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Futures and Commodity Market News |
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Sat May 17, 2008 |
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Breaking financial news 24/7 courtesy of TradingCharts.com Inc. / TFC Commodity Charts |
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CALGARY, May 9, 2008 (Canada NewsWire via COMTEX) -- Pyramid Petroleum Inc. (TSXV: PYR) today announced that Mr. Ray LaGarde and Mr. Saad Shaarawi have been appointed as Directors, subject to regulatory approval, and Mr. John Frey has resigned as a Director of Pyramid. Mr. LaGarde worked with Conoco Inc. until 1996 and subsequently held various management and negotiation positions with international oil and gas companies including Union Texas Petroleum, Burlington Resources International and Anadarko Petroleum Company. After leaving Anadarko, he was President of GFI Oil and Gas Corporation, an oil and gas company listed on the TSX Venture Stock Exchange. Mr. Shaarawi worked with ExxonMobil for 28 years as Senior Geosciences Advisor. During this period he worked on projects in the Gulf of Mexico, Middle East, Africa, and South East Asia. He is currently the President of Lotus Resources, Inc, a private company engaged in international oil and gas business development. Pyramid also announced the grant of 2,110,000 stock options to various employees, officers and directors of the Company at an exercise price of $0.59 per share, all expiring on May 1, 2013. A total of 381,667 options have vested immediately and the balance will vest at different times over the next 3 years. Disclaimers The TSX Venture Exchange has neither approved nor disapproved of the contents hereof. Except for statements of historical fact, all statements in this press release, without limitation, regarding new projects and future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. SOURCE: Pyramid Petroleum, Inc. Faisal Chaudhary, V.P. Marketing, Pyramid Petroleum Inc., faisal@pyramidgom.com, (281) 822-0801 x 110, www.pyramidpetroleum.com; CHF Investor Relations, Cathy Hume, CEO, cathy@chfir.com, (416) 868-1079 x 231; Michael Borovec, Account Manager, michael@chfir.com, (416) 868-1079 x 229 |
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Copyright (C) 2008 CNW Group. All rights reserved. ********************************************************************** As of Monday, 05-05-2008 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREN Please read the End User Agreement. News provided by COMTEX |
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