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PETROMINERALS CORP. APPOINTS EUGENE L. BUTLER TO SERVE AS PRESIDENT AND CEO

 TUSTIN, Calif., April 6 /PRNewswire/ -- Larry S. Dodson, chairman of Petrominerals Corp. (NASDAQ: PTRO) today announced that the board of directors has appointed noted businessman Eugene L. Butler to serve as president and chief executive officer and as a director of the corporation, commencing April 15, 1993.
 According to Dodson, Petrominerals is undertaking aggressive steps to enhance future growth and development of the company. Butler, who comes to the company with a proven track record of developing companies and enhancing shareholder value as a result of his expertise in the financial and energy-related industries, will be primarily responsible for locating suitable opportunities to enhance the company's growth.
 Prior to 1991, Butler was employed by Weatherford International Inc. (AMEX), a multinational corporation serving the worldwide energy market. Weatherford manufactures and markets specialized oilfield tools and equipment and provides a variety of technical oilfield services to the petroleum industry through its subsidiaries and divisions. From 1974 to 1991, Butler served as an executive officer of Weatherford, first serving as senior vice president and chief financial officer in 1974, and in 1978, was elected to serve as a member of the board. He was appointed president and chief operating officer in 1979, and in 1984, was appointed president and chief executive officer.
 Prior to his employment with Weatherford, Butler was a certified public accountant with Arthur Andersen & Co. in Houston.
 Since 1991, Butler has served as chairman of the board of Black Warrior Wireline Corp., a Mississippi corporation (NASDAQ OTC), engaged in the oilfield service and wireline-related business. (In 1991, Butler also formed Intercoastal Terminal Inc., a bulk terminaling facility engaged in the transportation of bulk fuel oil products, located in Texas City, Texas. He holds a majority ownership interest in Intercoastal Terminal Inc. and serves as chairman of the board.
 Butler has served as a director of Powell Industries Inc. (NASDAQ), Houston, a public company engaged in the design, manufacture and servicing of equipment and systems for the control and management of electrical power, since 1989. As a member of the board, he is currently serving as a member of Powell's Audit and Nominating Committees.
 Butler is also a member of the Texas A&M University System Investment Advisory Board; a member of the Council of the Texas A&M University College of Business Administration and the Graduate School of Business. In addition, he is a member and former director of the Petroleum Equipment Suppliers Association (PESA). He was a founding member of the American Business Conference, Washington, D.C., founded in 1980; and a founding director of the Association for Corporate Growth, of the Houston chapter, founded in 1976, and is a current member of the Association of Independent Certified Public Accountants.
 A resident of Houston, Butler received his B.B.A. in accounting from Texas A&M University in Houston in 1963, and received his certification as a certified public accountant in 1974. He is a member of the AICPA, the Texas State Chapter of CPAs and the Houston Chapter of the TSCPA.
 Petrominerals Corp. engages in the production and marketing of crude oil and natural gas in California and Louisiana. Lunn Production Service, a division of Petrominerals Corp., services and maintains oil and gas wells for a number of major oil companies.
 -0- 4/6/93
 /CONTACT: Virginia M. Lazar, corporate secretary of Petrominerals, 714-730-5400/
 (PTRO)


CO: Petrominerals Corp. ST: California IN: OIL SU: PER

JL-MS -- LA010 -- 3341 04/06/93 09:04 EDT
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Publication:PR Newswire
Date:Apr 6, 1993
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