Fountain Oil announces important board additions.HOUSTON--(BUSINESS WIRE)--April 18, 1995--Fountain Oil Inc. (NASDAQ/NMS:GUSH) Tuesday announced that Oistein Nyberg, Robert Halpin Robert Charles Halpin, Master Mariner, (born February 16, 1836 in Wicklow, Ireland), was the son of James and Anne Halpin (nee Halbert) and captained the Brunel-designed leviathan SS Great Eastern which laid transoceanic telegraph cables in the late 1800s. and Stanley Heckman have been elected to the company's board of directors succeeding Robert Case, Susan Palmer and Sharon Van Horn. Chairman Gene Meyers commented: "Our new directors bring a depth of experience and skill commensurate com·men·su·rate adj. 1. Of the same size, extent, or duration as another. 2. Corresponding in size or degree; proportionate: a salary commensurate with my performance. 3. with our new organization and ambitious growth strategy. We recognize and appreciate the dedicated service of our previous board members who have ably served the company during a period of dramatic transition." Nyberg, 52, was recently elected president and chief executive officer of Fountain fountain, natural or artificially conveyed flow of water. In ancient Greece columnar shrines were built over springs and dedicated to deities or nymphs. In ancient Rome fountains fed by the great aqueduct system furnished water in the streets, in the villa gardens, Oil. He is expected to split his time among Fountain Oil's offices in London, Oslo and Houston. For the past 11 years, he was a managing director of Smedvig Technology A/S, a leading oil and gas technology company based in Norway, that experienced high growth and profitability during his tenure. Throughout his 30 years of experience, Nyberg has held important positions at a number of companies including Schlumberger, Superior Oil and Statoil. Halpin, 59, brings extensive petroleum industry experience to Fountain Oil. Over the past 38 years, he has held technical, operational, management and executive positions with two major companies (Chevron, Mobil), four independents and one national oil company in all oil producing areas of the world. After retiring from Petro-Canada in late 1993 as its vice president for international exploration and production, Halpin, a graduate engineer, formed Halpin Energy Resources Ltd., which provides advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to the petroleum industry. Heckman, 55, is a graduate of Harvard Law School Harvard Law School (colloquially, Harvard Law or HLS) is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, Harvard Law is considered one of the most prestigious law schools in the United States. and attended the London School of Economics The School is a member of the Russell Group, the European University Association, Association of Commonwealth Universities, the Community of European Management Schools and International Companies, The Association of Professional Schools of International Affairs as well as the Golden . For the past 23 years he has been a principal owner and manager of The Richard Group, a national real estate development and investment company. Fountain Oil is actively acquiring and developing a portfolio of oil and gas properties. The company has also developed and is marketing a patented, electrically enhanced oil recovery Enhanced Oil Recovery (EOR) is a generic term for techniques for increasing the amount of oil that can be extracted from an oil field. Using EOR, 30-60 %, or more, of the reservoir's original oil can be extracted [1] compared with 20-40% [2] technology used to increase the production of heavy oil. CONTACT: Fountain Oil Inc. Gene Meyers, 310/305-8640 or Liviakis Financial Communications Inc. John M. Liviakis, 916/448-6084 |
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