HOUSTON, Aug. 13, 2013 /PRNewswire/ -- Liberty Energy Corp. (OTCQB: LBYE) ("Liberty" or "the Company") is pleased to announce the appointment of new CEO Arthur Roy. Mr. Roy has extensive experience in commercial and residential real estate investments, as well as other acquisitions and developments. In the last ten years, he has focused on small cap investments and raising capital for oil & gas transactions, including the acquisition of properties and redevelopment of distressed properties. Mr. Roy received a BBA degree in Marketing from The University of Texas, Austin.
"Upon my appointment, we are immediately moving forward on a series of mandates to support the launch of the oil & gas acquisition program. The Company will share key developments and will be launching a blog where it will provide ongoing information, pictures of field developments and field visits," stated CEO Roy.
These updates will be provided via the new Corporate Website: http://LibertyEnergyCorp.com.
The Company has negotiated and is structuring the retirement of a significant portion of the common shares outstanding. This is being done to reduce the issued and outstanding common shares as well as available common shares in Cede & Co (float) to support the upcoming acquisitions.
As previously stated, there are currently several oil & gas acquisitions with existing production that the Company intends to acquire and develop. The Company has executed a Letter of Intent with its first acquisition, details of which the Company will be announced in a subsequent press announcement. These properties are located in North Central Texas and are shallow, low risk and have upside potential through workovers, recompletions or infill drilling.
ABOUT LIBERTY: Liberty Energy Corp. (OTCBB: LBYE) is an Independent Oil and Gas Exploration and Production Company dedicated to the sourcing and production of oil and gas onshore in the United States. Headquartered in Houston, Texas, the company has acquired several leases with extensive potential for future development.
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Liberty Energy Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Liberty Energy Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Liberty Energy Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
David Sexton, Investor Relations Executive
Liberty Energy Corp.
Two Allen Center
1200 Smith Street
Houston, TX 77002
SOURCE Liberty Energy Corp.