Scottsdale, Arizona 7/9/2009 10:46:40 PM
News / Finance

Savoy Energy Corp. (SNVP.OB) Adds New Board Members Retaining International Oil Exploration Experience

QualityStocks would like to highlight Savoy Energy Corp. (OTCBB: SNVP). Savoy Energy is an independent oil and gas company building a diversified portfolio of valuable oil and gas assets. The company is focused on identifying abandoned oil and gas assets, which are then brought online through recompletion and work-over activities, a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its asset base and cash flow, while significantly reducing the cost of initial drilling, and takes away the risk of traditional exploration projects.

 

In the company’s news yesterday,

 

Savoy Energy Corp. announced that on June 25, 2009 the Board of Directors of the company appointed Mr. William F. Howell, Mr. Raymond A. Crabbe, and Mr. Charles J. Jacobus to the Board of Directors. All three will remain in their newly appointed positions until the next regularly scheduled shareholder meeting at which time they may stand for re-election.

 

Mr. William Howell’s oil and gas experience spans nearly 50 years, both onshore and offshore. He has worked as a geologist domestically in Oklahoma, Texas and the Gulf of Mexico as well as internationally in Libya. Mr. Howell’s previous experience includes 13 years (1955 – 1968) as an exploration geologist at Continental Oil Company, 6 years (1968 – 1974) as Gulf Coast Exploration Manager for Mesa Petroleum, originating prospects and organizing a bidding group for participation in the Gulf of Mexico Shelf Exploration when he founded Paragon Petroleum, Inc., serving as Exploration Vice President for Roberts Oil and Gas, and serving as a Senior Exploration Advisor to Hardy Oil & Gas.

 

Mr. Raymond Crabbe retains more than thirty-five years of extensive knowledge and experience in the oil and gas industry. This experience includes pipeline, chemical, petrochemical, refining and offshore. Mr. Crabbe has both domestic and international expertise in oil and gas gathering, pipeline, storage, transmission and loading facilities. His domestic experience covers all fifty of the United States and his international experience includes South America, Russia, Asia, Middle East, Indonesia, Canada, Africa and the Virgin Islands. Most recently, Mr. Crabbe has been employed by Chevron (2005 – 2006); STV Inc. in 2007; and Mustang Engineering from 2007 to present. Mr. Crabbe has never served on the board of a publicly traded company.

 

Since 1973, Mr. Charles Jacobus has been an accomplished real estate attorney and publisher. Receiving his Bachelor of Science from the University of Houston and Doctor of Jurisprudence from the University of Houston, he has a sole practice law office and maintains affiliations with many real estate associations as they pertain to commercial and residential real estate law in the State of Texas. Mr. Jacobus has also published numerous books focused on Georgia, Ohio and Texas Real Estate Law, co-authoring many of them.

 

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.