Strategic American Oil Corporation Appoints Jeremy Driver as President and Chief Executive Officer
December 01 2009 - 9:00AM
PR Newswire (US)
CORPUS CHRISTI, Texas, Dec. 1 /PRNewswire-FirstCall/ -- Strategic
American Oil Corporation (OTC:SGCA) (BULLETIN BOARD: SGCA) (the
"Company") is pleased to announce it has appointed Jeremy Driver as
the new President and Chief Executive Officer of the Company,
effective December 1st, 2009. Mr. Driver succeeds Randall Reneau,
who will continue to serve as Chairman of the Board of Directors.
With a solid background in upstream oil and gas, specifically in
Texas and Louisiana, Mr. Driver brings proven experience,
leadership, and professional skills to a growing company. Most
recently, he served as President of HYD Resources Corporation
(wholly-owned subsidiary of publicly traded firm - Hyperdynamics
Corporation, an operating oil and gas company headquartered in
Houston, TX. Mr. Driver led the turn-around of HYD Resources
ultimately bringing it to profitability and later focusing on
strategic acquisitions to increase acreage, reserves, and daily
production. Prior to his tenure at HYD Resources, Mr. Driver served
honorably with the United States Air Force as an Officer, Chinese
Linguist, and foreign intelligence specialist. He holds a Master of
Business Administration degree as well as a Master of Science in
Accounting degree from Northeastern University and while serving in
the military he earned his B.S. in Liberal Studies, Chinese
Language from Excelsior College. Mr. Driver aims to strengthen the
Company's profile with the investment community, develop merger and
acquisition strategies, and further identify oil and gas
development projects that meet the Company's exacting standards.
Randall Reneau, Chairman stated, "Jeremy's extensive oil and gas
experience while with HYD in Houston, including projects in Texas
and Louisiana, two of the Company's core operational areas, along
with his strong educational background make him a valuable addition
to the Strategic American team. I am also very pleased that he will
be working out of the Company's Corpus Christi office where the
balance of our operational staff is based. Jeremy has an excellent
understanding of both the operational aspects of an oil company and
the management of a public company. I am very proud to be
introducing Jeremy to this Company and working with him to increase
our shareholder value." "I am very excited to be joining the
Strategic American Oil team," said Mr. Driver. "I believe strongly
that with our impressive portfolio of prospects, our first-class
team of geologists and engineers, and our solid financial
positioning we are poised for remarkable growth in the very near
future." About Strategic American Oil Corporation Strategic
American Oil Corporation (OTCBB: SGCA) is an exploration and
production company with operations in Texas, Louisiana, and
Illinois. The company draws on an internationally recognized team
of geologists, engineers, and executives with extensive oil and gas
exploration and production experience. The Company's objective is
to find and acquire oil and gas projects of merit and develop those
projects to their full potential.
http://www.strategicamericanoil.com/ Safe Harbor Statement This
news release contains forward-looking statements within the meaning
of Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities and
Exchange Act of 1934, as amended. Statements in this news release,
which are not purely historical, are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future. These statements involve risks and
uncertainties which could cause actual results to differ materially
from those in the forward-looking statements contained herein. Such
risks and uncertainties may include, but are not limited to, the
impact of competitive products, the ability to meet customer
demand, the ability to manage growth, acquisitions of technology,
equipment or human resources, the effect of economic and business
conditions, the ability to attract and retain skilled personnel and
factors outside the control of the Company. These forward-looking
statements are made as of the date of this news release, and the
Company assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ
from those projected in the forward-looking statements. Although
the Company believes that the beliefs, plans, expectations and
intentions contained in this news release are reasonable, there can
be no assurance those beliefs, plans, expectations or intentions
will prove to be accurate. Investors should consider all of the
information set forth herein and should also refer to the risk
factors disclosed in the Company's periodic reports filed from
time-to-time with the United States Securities and Exchange
Commission. This news release shall not constitute an offer to sell
or the solicitation of an offer to buy nor shall there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
DATASOURCE: Strategic American Oil Corporation CONTACT: Investor
Relations of Strategic American Oil Corporation, 1-800-643-5815 Web
Site: http://www.strategicamericanoil.com/
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