Arrow Energy Ltd. has announced that Richard Edgar has been appointed Executive Director overseeing all of the affairs of Arrow to replace Chris Tesarski who has resigned as President and Chief Executive Officer of Arrow effective July 31, 2008. Edgar has extensive experience in the oil and gas industry having been President of several public oil and gas companies including Energy North Inc. and Avery Resources Inc. Arrow wishes to thank Tesarski for his service and acknowledge his significant contributions.
Arrow also announces that Sandford Gauchier, a director of Arrow, has been appointed as Vice President of Surface Operations of Arrow. Gauchier has extensive knowledge of the Northern communities and experience working with aboriginal and Metis settlements. Gauchier will be a great addition to Arrow furthering its goals with respect to the exploration and development on Alberta Metis settlements and on First Nations' Reserves.
As part of Gauchier's employment package, he will receive 100,000 stock options to purchase common shares of Arrow at an exercise price of $0.17 per common share effective August 1, 2008 pursuant to Arrow's stock option plan. The stock options expire July 31, 2013.
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