Archer announced, effective immediately, the appointment of Mr. Claude V. Perrier III to the position of Chief Executive Officer and a Director of the Company.
Mr. Perrier has 30 years of experience in the Oil & Gas Industry with a key focus on finding, acquiring and developing lower risk, higher impact assets with a high potential return on investment.
Since 1998, Mr. Perrier has been the Managing Director of Henican Terrebonne Property and since 2000 has been a Director of the Louisiana Landowners Association. Mr. Perrier founded the Land Management Group in 1985. Perrier received his Bachelor of Science Degree from Louisiana State University in 1980.
Mr. Perrier stated, "Archer Petroleum is an opportunity that I am delighted to be a part of. The team has considerable technical and operational experience and I believe that our mandate of delivering high rate-of-return projects will provide shareholders with significant growth potential in both the short and long term."
To enable this appointment, Mr. Victor Barcot is stepping down as Chief Executive Officer but will remain an active Director of the Board. The Board wishes to thank Mr. Barcot for his service as CEO.
Mr. Barcot stated, "I am very excited that Archer has been able to attract an individual with the skill and experience that Claude has. Claude will be a huge asset in the future growth of Archer, and I look forward to working with him to deliver shareholder value going forward."
To position Mr. Perrier on the Board of the Company, co-founder Arni Johannson has stepped down as a Director of the Board and will move to an advisory role within the Company. The Board wishes to thank Mr. Johannson for making this concession and looks forward to working with him as a valued advisor to the Company.
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