Texas-based oil and gas exploration and production company Pegasi Energy Resources Corp. recently announced that the company had elected Dr. Oliver C. Waldron as Chairman of the Board. Mr. Michael Neufeld, President and CEO of Pegasi, was the previous acting Chairman of the company, and will retain the positions of President and CEO at Pegasi.
Pegasi, headquartered in Tyler, TX, is currently focused on building a portfolio of drilling opportunities that exploit underdeveloped oil reserves. Current Pegasi projects include a repeatable, low geological risk, high potential project in the active East Texas oil and gas region.
With over 30 years of experience in oil and gas exploration around the world, Waldron was the founder and chairman of Dragon Oil, which explored for oil and gas in North and South America, Middle East and Far East and produced oil and gas in the U.S., Gulf of Thailand, Offshore UK. With Dragon, Waldron was also able to negotiate with the Government of Turkmenistan in 1994. This allowed Dragon to develop the abandoned Zhadanov field in the Caspian Sea. Dr. Waldron retired from Dragon Oil in 2000 after the Emirates National Oil Company Limited acquired a controlling interest.
Waldron is a graduate of University College Cork, holds a B Sc. in Mathematics and Physics, an M Sc. in Physics, and a Doctorate in Nuclear Physics from the University of Oxford. Waldron is also chairman of Caspian Oil Resources Limited, Gibraltar, serving as a consultant on oil and gas projects in the Caspian Region.
Mr. Michael Neufeld, President and CEO of Pegasi, said, “We are pleased and honored to have Dr. Waldron join our Board. Dr. Waldron brings considerable industry experience to the Company from many aspects of the oil and gas business, which are directly relevant to our on-going development program. We look forward to working with him.”
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