Strategic American Oil Corporation has appointed Jeremy Driver as the new President and Chief Executive Officer of the Company, effective December 1st, 2009. Mr. Driver succeeds Randall Reneau, who will continue to serve as Chairman of the Board of Directors.
With a solid background in upstream oil and gas, specifically in Texas and Louisiana, Mr. Driver brings proven experience, leadership, and professional skills to a growing company. Most recently, he served as President of HYD Resources Corporation (wholly-owned subsidiary of publicly traded firm -- Hyperdynamics Corporation, an operating oil and gas company headquartered in Houston, TX. Mr. Driver led the turn-around of HYD Resources ultimately bringing it to profitability and later focusing on strategic acquisitions to increase acreage, reserves, and daily production.
Prior to his tenure at HYD Resources, Mr. Driver served honorably with the United States Air Force as an Officer, Chinese Linguist, and foreign intelligence specialist. He holds a Master of Business Administration degree as well as a Master of Science in Accounting degree from Northeastern University and while serving in the military he earned his B.S. in Liberal Studies, Chinese Language from Excelsior College.
Randall Reneau, Chairman stated, "Jeremy's extensive oil and gas experience while with HYD in Houston, including projects in Texas and Louisiana, two of the Company's core operational areas, along with his strong educational background make him a valuable addition to the Strategic American team. I am also very pleased that he will be working out of the Company's Corpus Christi office where the balance of our operational staff is based. Jeremy has an excellent understanding of both the operational aspects of an oil company and the management of a public company. I am very proud to be introducing Jeremy to this Company and working with him to increase our shareholder value."
"I am very excited to be joining the Strategic American Oil team," said Mr. Driver. "I believe strongly that with our impressive portfolio of prospects, our first-class team of geologists and engineers, and our solid financial positioning we are poised for remarkable growth in the very near future."
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