NEW ORLEANS, July 12, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO), (www.treatyenergy.com), a growth-oriented international energy company, announced today the appointment of George W. Warren Jr to the company's Board of Directors as Independent Non-Executive Director, effective September 1, 2012.
Andrew V. Reid, Chairman of Treaty Energy Corporation, commented, "George Warren first became an investor in Treaty in September of 2011. After several meetings and conversations he indicated he would like to introduce Treaty to possible investors in Malaysia. After many months of due diligence a group of investors, introduced to us by Mr. Warren, began acquiring shares in Treaty. Once the Malaysian group achieved a sizable equity position they requested Board representation as they continued to grow their investment in our company."
Mr. Reid added, "Treaty decided that in order to more fully benefit from this growing relationship it would be prudent to offer Mr. Warren a seat on our board of directors, an offer he accepted. We believe that Mr. Warren will be integral to bringing major foreign investment and technical expertise to Treaty Energy that will help propel the company toward our goal of becoming a Major Oil Exploration and Production Company."
As an Independent Non-Executive Director of Treaty Energy, Mr. Warren will have the same general fiduciary responsibilities to the company as any other Director. The Board as a whole is collectively responsible for the success of the company.
The Treaty Board of Directors:
- Provides entrepreneurial leadership of the company within a framework of prudent and effective controls which enable risk to be assessed and managed.
- Sets the company's strategic aims, ensures that the necessary financial and human resources are in place for the company to meet its objectives, and reviews management performance.
- Sets the company's values and standards and ensured that its obligations to its shareholders and others are understood and met.
Bio for George W. Warren Jr – Independent Non-Executive Director of Treaty Energy Corporation:
George William Warren Jr., an American, aged 42, was appointed as Independent Non-Executive Director of Treaty Energy Corporation, effective September 1, 2012. He also serves as Independent Non-Executive Director of Tanjung Offshore since August 28, 2007. He holds a Bachelor of Science Degree in Accounting (Graduating with Beta Alpha Psi Accounting Honors) from the Louisiana State University. In 1993, after graduation, he joined Wegmann Dazet & Co., a professional corporation of certified public accountants in New Orleans, LA, where he was both a Senior Auditor and a Forensic Auditor.
In 1997, he was appointed as the Managing Director of BWB Controls, Inc., at Houma, LA, a worldwide manufacturer of pneumatic, hydraulic and electric surface safety equipment engineered specifically for the oil and gas industry. In 2006, he became a Director/Investor in Mezco Fabrication, L.L.C., at Carencro, LA, a manufacturer of precision sheet metal parts utilizing laser cutting technology for the oil and gas industry, a position he continues to hold. He also serves as a member of the AC of Tanjung. For more about Tanjung Offshore, headquartered in Kuala Lumpur, Malaysia, go to: http://www.tanjungoffshore.com.my/portal/
Mr. Reid concluded, "We see George Warren, with his international knowledge and experience in the offshore oil, gas and energy industries, as a wonderful addition to our Board. We look forward to working with George and his Malaysian investors for many years into the future."
About Treaty Energy Corporation
Treaty is engaged in the acquisition, development and production of oil and natural gas. Treaty acquires and develops oil and gas leases which have "proven but undeveloped reserves" at the time of acquisition... These properties are not strategic to large exploration-oriented oil and gas companies. This strategy allows Treaty to develop and produce oil and natural gas with tremendously decreased risk, cost and time involved in traditional exploration. Treaty's headquarters is located in Houston, Texas.
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in the Company's filings with the Securities and Exchange Commission, including Forms SB-2, 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward-looking statements.
SOURCE Treaty Energy Corporation