LAS VEGAS, Nov. 15, 2010 /PRNewswire-FirstCall/ -- Consolidation Services Inc. ("CNSV" or the "Company") (OTC Bulletin Board: CNSV), an exploration and production company engaged in the acquisition, operation and development of domestic oil and natural gas, announced that Stephen Lieberman has agreed to join its management team as Chief Operating Officer and Senior Petroleum Engineer. Mr. Lieberman will lead the development of the pending acquisition announced by CNSV on October 16th, referred to as the "Grayson Acquisition." The Grayson Acquisition includes six oil & gas leases, equipment and operations located in Kern and Santa Barbara Counties, California, with current production of 346 net barrels of oil equivalent per day. The producing zones include the Antelope Shale, Monterey Chert, and Sisquoc Sand.
Stephen A. Lieberman has 36 years of experience in the oil and gas industry. Since December 1996, he has owned and operated American Energy Advisors, Inc. ("AEA") – a full service oil and gas consulting group performing reservoir studies and managing operations for companies and investors including creating and implementing exploitation programs and conducting general oilfield maintenance. Prior to working at AEA, Mr. Lieberman was Vice President of Presidio Oil Company, where he was responsible for business development activities (over $500MM of acquisitions) and reservoir studies. He has also worked in various engineering roles at Ventura Consulting, Clarion Resources, Kenai Oil & Gas, Grace Petroleum and Getty Oil. He has designed and implemented hundreds of exploitation programs in California, Oklahoma, the Gulf Coast, Texas, and all Rocky Mountain States. These have included successful recompletion and drilling programs, enhanced recovery projects including water floods and steam floods, and general field rehabilitation. Mr. Lieberman attended Colorado School of Mines for 3 1/2 years and obtained his B.S. in Petroleum & Natural Gas Engineering from Pennsylvania State University.
Company President, Gary Kucher stated that: "Stephen's knowledge and experience in the exploitation of California oil & gas will be a tremendous asset to the Company. He will be a valuable addition to our team as we continue to grow through the ongoing development of our assets and through the execution of our acquisition strategy."
The Employment Agreement, executed on November 11th, calls for Mr. Lieberman to earn a combination of cash and stock for a three-year period commencing with the closing of the Grayson Acquisition.About CNSV: Founded in 2007 and based in Las Vegas, Nevada, Consolidation Services Inc. is engaged in the acquisition, operation and development of domestic oil and natural gas production. The Company currently owns oil and gas wells along with oil and gas mineral rights on approximately 13,500 acres in eastern Kentucky and Tennessee. Consolidation Services Inc. is attempting to build shareholder value through further acquisition and development of domestic energy resources. For more information, please visit: consolidation-services.net or csi-energy.net