HOUSTON, TX, Jan. 17, 2013 /PRNewswire/ - Enhanced Oil Resources Inc. (TSX.V: EOR; OTCQX: EORIF) (the "Company") today announces the following addition to the Company's management team.
The Company is pleased to report that Mr. Mark Peavy has joined the Company as Vice President CO 2 Projects and will report directly to the Company's President and CEO.
Mark holds a Master of Business Administration from Rice University, Houston, Texas (2008) and a Bachelor of Science in Petroleum Engineering from University of Texas-Austin, Austin, Texas (1981). Mark has over 30 years of experience as a petroleum engineer and most recently was employed by Kinder Morgan CO 2 Company where he was CO 2 subsurface engineering manager and SACROC field development manager with direct responsibility for the subsurface design and execution of eight CO 2 redevelopment projects within the SACROC field.
EOR Inc.'s President and CEO Mr. Barry Lasker reports "The Company is very pleased to have a person of Mark's caliber join the team at EOR. Mark's experience in developing large scale CO 2 Enhanced Oil Recovery projects will greatly help the Company as it executes its plan to become one of the largest enhanced oil recovery resource companies in the Permian basin."The Company also announces the grant of 1,940,000 incentive stock options entitling the purchase, for a period of five years, of 1,940,000 shares of the company at a price of $0.10 per share pursuant to the terms of the Company's Stock Option Plan approved by shareholders on August 31, 2012. About Enhanced Oil Resources Inc. Enhanced Oil Resources Inc. (TSX.V: EOR; OTCQX: EORIF) trades in Canada on the TSX Venture Exchange under the symbol "EOR" and in the United States on OTCQX under the symbol "EORIF". Enhanced Oil Resources Inc. is an early-stage company, with a principal goal of increasing crude oil and natural gas production through enhanced oil recovery ("EOR") and infill drilling projects it is initiating in the Permian Basin. Forward-Looking Statements Certain statements contained herein are "forward-looking statements" and "forward-looking information" under applicable securities laws, including statements regarding beliefs, plans, expectations or intentions regarding the future relating to Enhanced Oil Resources Inc.'s operations, business prospects, expansion plans and strategies.