Chaparral Resources, Inc. Appoints President and Chief Operating Officer.HOUSTON--(BUSINESS WIRE)--Jan. 21, 1999--Chaparral Resources, Inc. (Nasdaq:CHAR) announced today that Dr. Jack A. Krug, 53, has been appointed President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , effective immediately. In his new position, Dr. Krug will assume the operating responsibilities for the Company's interest in the Karakuduk Field located in the Republic of Kazakhstan as well as other future projects. Dr. Krug has directed and managed joint venture operations in Russia and Kazakhstan as well as in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . In Kazakhstan, Dr. Krug has experience with joint venture management, licensing, strategic business planning and operational plans and budgets. Dr. Krug received his Professional, Master of Science and Ph.D. degrees in Petroleum Engineering from the Colorado School of Mines Colorado School of Mines, at Golden; state supported, coeducational; chartered 1874. It was one of the first mineral engineering schools in the United States. . John McMillian, the Chairman of the Board, was enthusiastic about the addition of Dr. Krug. "The addition of Dr. Jack A. Krug significantly strengthens our operating position in Kazakhstan. His experience and leadership will enhance the Company's ability to maximize its international opportunities and will prove to be a great asset to Chaparral." Chaparral Resources, Inc. is an international oil and gas exploration and production company. The Company participates in the development of the Karakuduk Field through the Karakuduk Munay, Inc. Joint Venture ("KKM KKM Kyou Kara Maou (fanfiction) KKM Kreiskolbenmotor (German: Planetary Rotation Motor) KKM Katholische Korporationen München KKM Koordinierungskreis Mosambik eV ") of which it is the operator. The Company controls a 50% beneficial ownership interest in KKM with the other 50% ownership interest being held by Kazakh investors, including KazakhOil, the government-owned oil company. Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of oil prices, product demand, market competition, risks inherent in the Company's international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , imprecision of reserve estimates and the Company's ability to replace and expand oil and gas reserves. These and other risks are described in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other filings with the Securities and Exchange Commission. |
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