Petro-Reef Resources Ltd.

Petro-Reef Resources Ltd.

December 30, 2008 16:15 ET

Petro-Reef Provides Management Update

CALGARY, ALBERTA--(Marketwire - Dec. 30, 2008) - Petro-Reef Resources Ltd. ("Petro-Reef" or the "Corporation") (TSX VENTURE:PER) is pleased to provide an update concerning a change in management. Joe Werner, President and Chief Executive Officer of the Corporation has advised the Board of Directors that he will be retiring from his duties effective December 30, 2008 after 17 years of exemplary dedicated service to the Corporation. Mr. Werner has advised the Board of Directors of his intention to remain on the Board of Directors as Chairman and provide his services on a consulting basis to the Corporation as required. The Board of Directors and management would like to thank Mr. Werner for his years of service to the Corporation and its shareholders and wish him all the best in his future endeavors.

Effective December 30, 2008, Mr. Ted Donhuysen will be promoted to President and Chief Executive Officer of Petro-Reef. Mr. Donhuysen had previously held the position of Chief Operating Officer and Vice President Exploration and Production with Petro-Reef. Mr. Werner and Mr. Donhuysen are the original founders of Petro-Reef and the Corporation is pleased to have both of their services and considerable knowledge at its disposal.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Petro-Reef Resources Ltd.
    John Pantazopoulos
    Vice-President Finance and CFO
    (403) 265-6444
    (403) 264-1348 (FAX)
    Petro-Reef Resources Ltd.
    970, 10655 Southport Road S.W.
    Calgary, Alberta T2W 4Y1