GLOBAL NATURAL RESOURCES NAMES VAGT PRESIDENT
GLOBAL NATURAL RESOURCES NAMES VAGT PRESIDENT HOUSTON, May 19 /PRNewswire/ -- Global Natural Resources Inc.
(NYSE: GNR) (the "company") announced today that Robert F. Vagt, 45, has been elected president and chief executive officer. Vagt replaces Roger C. Chapman who is retiring. Vagt has been nominated for election as a director of the company at the 1992 annual meeting of shareholders to be held next month. Chapman will assist the company during the transition until his retirement on July 1, 1992.
Vagt's previous position was president and chief operating officer of Adobe Resources Corporation. James G. Niven, chairman of the company, stated that "In light of the company's new focus on international opportunities and continued efforts domestically, we are extremely fortunate to secure the services of Robert Vagt with his years of experience in all phases of the oil and gas business. We are confident that he will be an invaluable asset to the company in capitalizing on the many opportunities facing the company today in the United States, Russia and South America." Global Natural Resources Inc. is a Houston-based energy company engaged in the exploration, development and production of oil and gas in North America. The company also owns an interest in long-term oil and gas production sharing contracts in Indonesia and has joint venture projects in Tatarstan-Russia and Argentina. -0- 5/19/92 /CONTACT: Eric Lynn Hill of Global Natural Resources 713-880-5464/ (GNR) CO: Global Natural Resources Inc. ST: Texas IN: OIL SU: PER
LR -- NY103 -- 2044 05/19/92 17:07 EDT
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|Date:||May 19, 1992|
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