DALLAS, April 22, 2009 (GLOBE NEWSWIRE) -- Apollo Drilling, Inc. (Pink Sheets:APDR) today announced the appointment of new officers and directors to the Company. The new Chairman of the Board of Directors is Mr. Clark Boyles, and the new Chief Executive Officer is Mr. Patrick Berry, who will also serve as the Company's Chief Financial Officer.
"We are excited about the new future of this company," said Mr. Berry. "Over the next several days we will be focused on defining the new direction for the Company, which will remain in the oil and gas production sector."
Patrick G. Berry has over 30 years experience in financial and executive management positions, primarily within the oil and natural gas industry. He began his career as a CPA with KPMG, an international CPA firm, and from 1974 to 1987 was the managing partner of Berry Smith Duke & Co., a 25 person Dallas CPA firm. Mr. Berry has concentrated his practice in the accounting and tax areas of the petroleum industry and has worked with numerous exploration and production companies.
Mr. Berry's activities have included management organization, financial structuring, Private Placement Memorandum preparation, investor fund raising, management of oil and gas drilling JVs, re-entry JVs, drilling rig JVs, and royalty and lease bank JVs. He is experienced in numerous oil and gas accounting programs for joint interest billings (JIBs) and revenue distribution and has extensive joint venture tax return preparation experience. He has written and presented white paper reports to geology classes on Evaluation of a Drilling Project - Guidelines for an Individual Investor, and prepared and conducted continuing education classes for CPAs on the oil and gas business, most recently an all day seminar for CPA's on the Barnett Shale (Texas) play. He has invested in and owned and managed numerous oil and gas working interests directly and though partnerships he has organized.
Clark H. Boyles currently serves as Chief Operating Officer and as a Director for Bedford Energy, Inc., an oil and gas exploration and production company based in Oklahoma City. For the past 20 years Mr. Boyles has directed the activities of numerous partnerships and corporations as Chief Executive Officer or General Managing Partner. He is particularly involved in acquisitions, logistics, trucking, expansion and development of various projects, real estate and purchase of various trucking companies. Mr. Boyles is a consultant to numerous entities where he provides expertise in goal setting, strategic planning, business strategy, logistics, transportation, supply chain management, financial and corporate management and international trade and a special emphasis on turn-around management.
Other entrepreneurial activities over the past twenty years have included operations in a variety of diversified industries. Activities have included the acquisition, management and development of Black Diamond Group, Inc. and Safari Investments, Inc. On behalf of his and the accounts of others, Mr. Boyles has started or acquired over 50 corporations and 38 commercial real estate properties and acted as a consultant to others on many diversified acquisitions, financings, logistics operations, trucking operations, SCM, reorganizations and real estate transactions, and managed as many as 50 other properties for other third parties.
Apollo Drilling, Inc. is focused on upstream oil and gas exploration, development, and production. The Company is currently in the process of refining its new business plan.
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.