PRD Strengthens Management

PRD announced that Mr. Ted Watchuk has been appointed Vice President Exploration of the Company and that Mr. James (Terry) McCoy has been appointed the board of directors of the Company.

Mr. Ted Watchuk, B.Sc. - Vice President, Exploration. Mr. Watchuk is a senior oil and gas executive with over 30 years as a successful geologist and exploration manager. Mr. Watchuk spent 15 years with Poco Petroleums in various roles, including as a geologist, exploration manager and member of the corporate development team. Mr. Watchuk is a member of The Association of Professional Engineers, Geologists and Geophysicists of Alberta, The Canadian Society of Petroleum Geologists and The American Association of Petroleum Geologists.

Mr. James (Terry) McCoy, P. Geol. - Director. Mr. McCoy is a senior oil and gas executive with over 40 years of experience with major, senior intermediate and junior oil and gas companies. Mr. McCoy is currently the President of Koa Resources. Mr. McCoy is a director of several public and private companies and an advisory board of a private capital company.

Commenting on the appointments, Mr. Michael Greenwood, Chairman and Chief Executive Officer of PRD, said, "We are very pleased with the additions of Ted Watchuk to our management team and Terry McCoy to our board of directors. These individuals offer PRD a deep knowledge and capability in geosciences which, when combined with the recent addition of Daryl Gilbert from a reservoir engineering perspective, provide considerable bench strength to our already highly capable team of directors and officers."

PRD also announced that Mr. Roger Harman, Chief Financial Officer of the Company, is no longer with the Company. The directors and management express their gratitude to Mr. Harman for his contributions to the Company and we wish him well in his future endeavors.

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