Petro Resources gets new management team

Petro Resources Corp., Houston, named Gary C. Evans chairman and Ronald D. Ormand executive vice-president.

May 28, 2009

By OGJ editors
HOUSTON, May 28 -- Petro Resources Corp., Houston, named Gary C. Evans chairman and Ronald D. Ormand executive vice-president.

Evans founded and was chairman and chief executive officer of Magnum Hunter Resources Inc., Dallas, for 20 years before it was acquired by Cimarex Energy Co. in June 2005. He is chairman and CEO of private Gruy Petroleum Management LLC Inc.

Ormand has more than 25 years of investment and commercial banking experience in the energy industry.

Wayne P. Hall has resigned as Petro Resources chairman and chief executive officer and will remain as vice-chairman. Donald L. Kirkendall will continue as president and has resigned as a director.

Hall said, "We are looking forward to the new leadership from Gary and Ron in our mutual goal of changing the direction of the company to more of an oil and gas operator with access to capital markets. The company plans to focus on acquisitions, low risk development drilling, and new projects exhibiting repeatable success opportunities."