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Paleo Resources, Inc. Announces Board and Management Changes, and Appoints New Auditor

21.01.2022 | 23:30 Uhr | The Newswire
Calgary, January 21, 2022 - Paleo Resources Inc. ("Paleo" or the "Corporation") (TSXV:PRE) announced today changes to its Board of Directors and Officers.

Roger S. Braugh, Jr. has resigned as Chief Executive Officer, Thomas M. Crain, Jr. has resigned as Secretary and Jeff Harder has resigned as a Director of the Corporation. Mr. Crain and Mr. Braugh will remain as Directors of the Corporation. Paleo would like to thank Mr. Harder, Mr. Crain and Mr. Braugh for their service and dedication to the Corporation.

Garrett Glass has been appointed as a Director of the Corporation to fill the vacancy created by Mr. Harder's resignation.

Laura Pommer Fidler, the Chief Executive Officer of Paleo's wholly owned subsidiary EF Resources, Inc. and its indirect subsidiary EnergyFunders LLC, has been appointed Chief Executive Officer of Paleo.

Virginia Urban Light, the Secretary and Vice-President of Reservoir Engineering and Regulatory Affairs of both EF Resources, Inc. and EnergyFunders LLC, has been appointed Secretary and Vice-President of Reservoir Engineering and Regulatory Affairs of Paleo.

Garrett Glass - Director

Garrett is currently the managing partner and co-founder of a real estate development company with 20 years of business and financial management experience. Previously, as the CFO, Garrett spent the last 14 years building businesses alongside the founder and CEO of a multi-billion dollar investment enterprise, focused primarily on ranching and energy investments. He has led and promoted multiple process improvement initiatives, system integrations, automation projects, and AI endeavors. Prior to his energy stint, Garrett worked in assurance and advisory consulting services for Ernst & Young. Garrett earned a Bachelor of Science in Business Administration with concentrations in Finance and Accounting from Trinity University. He is a Certified Public Accountant and also holds a Masters of Science in Accounting from Trinity University.

Laura Pommer Fidler - Chief Executive Officer

Laura previously served as the CEO and lead geologist of Century Natural Resources. Laura, along with her partners, founded Century in October 2018 with US$75M in private equity sponsorship from Juniper Capital. In her role as CEO, she guided the company's development and management of approximately 150,000 acres in the Powder River Basin. Before leading Century Natural Resources, Laura worked in operations and development for Anadarko Petroleum's U.S. onshore assets. She's also worked for various private equity-backed companies on regional and asset level mapping, log interpretation, risk analysis and deal evaluation. Laura is a geologist by training-earning her masters in Geology from The University of Texas at Austin and her bachelor's in Geology from The University of Colorado.

Virginia Urban Light - Secretary and Vice President, Reservoir Engineering & Regulatory Affairs

Virginia previously served as Vice President of Reservoir Engineering & Evaluations at Gaedeke Energy, where she continues to assist with internal reserves management and A&D efforts. Virginia began her petroleum engineering career at DeGolyer and MacNaughton, specializing in the estimation and appraisal of reserves in Russia and the countries of the former Soviet Union. While at D&M, Ms. Light evaluated the oil reserves of several major waterflood projects in Russia and estimated the future deliverability of numerous gas fields important to the gas supply of the Russian Federation. Before joining D&M, Virginia practiced law as an oil and gas title attorney, with a focus on title work in the Barnett Shale. She holds a Bachelor of Science degree in Petroleum Engineering as well as a Minor in Dance from Texas A&M University where she was a President's Endowed Scholar. Ms. Light received her Juris Doctorate degree from St. Mary's University School of Law where she served on the Editorial Board of the St. Mary's Law Journal. She is a licensed attorney admitted to the State Bar of Texas.

Appointment of New Auditor

Paleo also announced today that it has appointed Fruci & Associates II, PLLC as auditor of Paleo effective January 13, 2022. The resignation of Paleo's former auditor, MaloneBailey, LLP, was accepted by the Company effective January 13, 2022.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Paleo Resources Inc. is an oil and natural gas and mineral exploration company headquartered in Calgary, Alberta, with executive offices in San Antonio, Texas. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "PRE" and on the OTCQB as "PRIEF".

For further information please contact:

Roger S. Braugh, Jr., Interim Chief Executive Officer and Chairman of the Board
Email: rbraugh@paleooil.com

Paleo Resources Inc.
716 S. Frio St., Suite 201
San Antonio, Texas 78207
Telephone: 254-699-0975
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