Panther Energy today issued a corporate
update press release discussing its recent name change, new ticker symbol, and
a series of significant actions that have contributed to the company’s current
position and outlook for the near future.
Last week the company announced the official
name change from Innocent Inc. to Panther Energy and today the company started
trading under the new ticker symbol PNEG. These changes reflect the company’s
ongoing efforts to minimize the risks of exploration by developing proved
petroleum reserves and maximizing profit through strategic acquisition and
liquidation of selected oil and gas properties. Management chose the name
“Panther Energy” to portray the company’s aggressive and stealth strategy to
achieve these goals and generate predictable, sustainable company value.
Panther’s journey traces back to an
exploration agreement signed in November 2013 with Dallas, Texas-based
Evergreen Petroleum. Evergreen was retained to leverage its more than 150 years
of experience in the oil and gas industry to serve as general manager of the
company’s Exploration Project in the Powder River Basin of Wyoming. Ranking
eighth in the Energy Information Agency’s U.S. crude oil production rankings,
Panther (at the time doing business as Innocent) solidified its footing in a
state recognized by many as being on the cusp of a second oil boom.
The following months entailed a significant
C-level adjustment, as well as the expansion of the Company’s board of
directors and launch of an advisory panel.
Patrick Johnson, formerly the company’s chief
operating officer, in June 2014 was promoted to the role of chief executive
officer, succeeding the resigning CEO Wayne Doss. Johnson, a seasoned
entrepreneur with a lengthy executive background in the oil and gas, consumer
products, and neutraceutical industries, also demonstrated experience in the
public and private sectors, as well as in consulting and non-profit operations.
Additionally, Terry Lynch was appointed as new president and chairman of the company’s
board of directors.
Later that month, the company appointed James
Kerr as its new chief financial officer, where he brings more than 20 years of
extensive experience in corporate restructuring, mergers and acquisitions, debt
consolidation, corporate finance, financial statement preparation, audits and
more for both private and public companies.
With managerial restructuring in place, the
company in July launched an advisory council to further support corporate
initiatives, naming to the council: Peter Kent, a corporate commercial lawyer
and business advisor with more than 35 years of experience; Scott Davis, who
has managed teams of more than one hundred workers while implementing land
strategies in the field for Devon, ConocoPhillips, XTO, Samson, Cimarex, and
other E&P companies; and Denis Clement, a highly experienced international
business executive with more than 30 years of experience in finance, law,
M&A, management and entrepreneurship throughout various industries
including financial, oil and gas, mining and technology.
CEO Patrick Johnson stated, “Our team members
have laid a solid foundation for Panther to thrive in the North American oil
and gas market. We are committed to building a leading, exploration and
production company, dedicating our recourses to meet the ever growing demand
for dependable energy.”
For more information, visit
www.PantherEnergyInc.com
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