Petrol Welcomes New Board Members
Petrol Oil and Gas, Inc., an independent oil and gas company with operations in Kansas, on Wednesday announced the addition of two experienced oil and gas executives to its Board of Directors.
Robert H. Kite has over 20 years of experience in public company Board governance, having served as a Director of several publicly traded companies. He was a Director and member of the Audit Committee of National Energy Group, Inc., which in November 2006 sold its onshore and offshore natural gas and oil properties to its parent company, American Real Estate Partners, LP, a NYSE-listed company. ACP, chaired by Carl Icahn, subsequently sold all of its oil and gas investments for $1.025 billion in cash and 12.8 million shares of common stock in SandRidge Energy, Inc.
Kite also manages KFT LLP, a private investment partnership, and he is President/CEO of Roamin' Korp. Inc., a private holding company involved in real estate, equities, and other investments. He currently serves on the Boards of Directors at ANTs Software, Inc. and LocatePLUS Holdings Corp.
Kite earned a B.S. degree in psychology and political science with a minor in business from Southern Methodist University.
Duane D. Fadness has more than 25 years of experience in the oil and gas industry in the United States, Canada and Europe. His board-level experience includes virtually all aspects of the financing and management of oil and gas properties. He has successfully managed the coordination of oil and gas exploration and development projects and has structured lease/property acquisitions and drilling ventures. In the early 1980s, Fadness served as a special projects landman for the Hunt family of Dallas, Texas.
Fadness, a Certified Professional Landman, earned his master of business administration degree from the University of Denver.
"We are very pleased that these two seasoned executives have agreed to serve on our Board of Directors," stated Paul Branagan, Chief Executive Officer of Petrol. "Individually, they bring a great deal of high-level energy industry and management experience to Petrol's board. Collectively, their talents should strengthen our ability to enhance shareholder value through the development of the Coal Creek and Petrol-Neodesha gas projects in Kansas and the future expansion of our oil and gas property portfolio."
Petrol Oil and Gas, Inc. is an oil and gas exploration and development company currently involved in the development of natural gas from leases encompassing approximately 165,000 gross acres in Kansas and Missouri.
- Petrol Names Steve Littell Chief Operating Officer (Aug 22)
- Petrol Welcomes New Board Members (Dec 14)
- Petrol Closes on Additional Financing for Coal Creek Project (Jun 07)