Archer Petroleum Corp. Appoints New CEO and Board Member
Sep. 23, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/23/10 -- Archer Petroleum Corp (TSX VENTURE: ARK)(OTCQX: APEUF)(DBFrankfurt: A6VA) (the "Company") is very pleased to announce 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, LLC. where he has overseen the drilling, leasing, subleasing, and permitting of oil and gas wells in South Louisiana, and since 2000 has been a Director of the Louisiana Landowners Association. Mr. Perrier founded the Land Management Group in 1985 which managed all forms of land acquisition projects, including leasing for oil and gas and hard minerals as well as negotiating and implementing a broad spectrum of agreements and contracts for clients including Shell Oil Company, Union Pacific Resources and Burlington Resources. Perrier received his Bachelor of Science Degree from Louisiana State University in 1980.
Mr. Perrier states, "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 states, "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.
About Archer Petroleum:
Archer Petroleum Corp. is an independent oil and gas company focused on the exploration and development of its assets in North America including the Western Canadian Sedimentary Basin, the Permian Basin of West Texas, and the Bakken Shale area of North Dakota. The Company's shares are listed on the TSX Venture Exchange under the symbol "ARK" and the OTCQX under the symbol "APEUF".
ON BEHALF OF ARCHER PETROLEUM CORP.
Colin Bowkett, President
Although Archer believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Archer can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), and commodity price, interest rate and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Archer undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Contacts:
Archer Petroleum Corp.
Colin Bowkett
President
(604) 683-7588
(604) 683-7589 (FAX)
info@archerpetroleum.com
www.archerpetroleum.com
Tribeca Capital Partners Inc.
Ali Sinawi
1-866-944-8674
ali@tribecacap.com
www.tribecacap.com
Source: Marketwire (September 23, 2010 - 2:41 PM EDT)
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