Petra Petroleum Inc.

Petra Petroleum Inc.

April 01, 2014 09:00 ET

Petra Petroleum Inc. Appoints Vice President, Corporate Development

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 1, 2014) - Petra Petroleum Inc. (TSX VENTURE:PTL) (the "Corporation") is pleased to announce that Mr. Pete Hughes has been appointed as Vice President, Corporate Development with immediate effect. Mr. Hughes has a strong business development, commercial and executive management background. He has over 40 years of international petroleum industry experience, including 18 years in a variety of senior commercial and management roles with Texaco Inc., where he was Vice President, Contracts and Negotiations in the Worldwide Growth Division. Subsequently, Mr. Hughes was CEO of Penton Energy Inc. and Concorde Oil & Gas PLC. His most recent position was as an advisor to Wintershall's Global Business Unit in Germany, which was responsible for the company's new country entry strategy development and execution. Bob Lambert, President and Chief Executive Officer of Petra Petroleum Inc., commented that, "I am delighted to welcome such an experienced and well-respected petroleum industry executive to the Petra Petroleum Management Team, as we try to accelerate our commercial activities in support of our growing E&P business."

Cautionary Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements with respect to the Corporation's use of proceeds from the Private Placement. The intended use of proceeds might change if the board of directors of the Corporation determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. Undue reliance should not be placed on such forward-looking information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Petra Petroleum Inc.
    Robert A. Lambert
    President and Chief Executive Officer
    +44 7837 463 596