The Company is continuing with the previously announced brokered private placement of up to $7.5 million and anticipates completion of this financing in the near term.
The Company also announces the appointment of Rodney L. Eson as Interim Chief Financial Officer effective June 30, 2006. Mr. Eson has replaced Mr. J. Bruce Petrie, who resigned as Chief Financial Officer when the Calgary office was closed at the end of June, 2006. Mr. Eson will continue as Interim Chief Financial Officer until a Houston based replacement is hired. In addition, the Company has appointed Mr. John Dorrier to the Audit Committee as a replacement to Mr. Eson, who resigned from the Audit committee to take on the role as Chief Financial Officer.
Ridgeway Petroleum is a development stage company that controls approximately 220,000 acres of land in Arizona and New Mexico where the Company has identified a significant resource of helium and carbon dioxide gases. Development of the project could lead the Company to potentially becoming one of North America's largest suppliers of these gases to Industry.
Most Popular Articles