22 August 2006: Gray to Gray to Rees 03/07
William W. Gray resigned Monday as chairman and chief executive of Chelsea-based independent oil operator Well Renewal Inc.
Everett W. Gray II, former vice president and co-founder, immediately took over the positions.
The "pink sheet" company said William Gray left "to pursue other interests." Everett Gray could not be reached for comment.
Well Renewal's Web site (www.wellrenewal.com) said the company focuses on three areas of business: oil production, well servicing and well re-pressurization. It identified United Energy Group Inc. as the planner and manager of all field projects Well Renewal worked. Further company and investor details were not available.
Through nitrogen and carbon dioxide gas injection, the company Web site promises Well Renewal can bring new life to oil fields exhausted through conventional production techniques. Citing U.S. Energy Department data, Well Renewal said noted a potentially wide field of employment, with up to 20,000 wells prematurely abandoned each year.
From its April opening at 15 cents a share, Well Renewal stock enjoyed a roller-coaster rise to 55 cents a share in early May before suffering an even steeper decline. From nearly 5 cents a share it managed a brief reprise, climbing near 20 cents in June, only to slide back to juggle around the 9-cent mark, where it closed Monday. The bid price managed to rise as high as 75 cents a share in early May, only to range around 12 cents by August.
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TULSA, Okla., March 14, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- Well Renewal, Inc. (Pink Sheets:WRNW), a rapidly growing diversified oil and gas regional operator specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, and oil field services, today announced changes in corporate governess. Mr. E. Will Gray II has resigned from all corporate positions at Well Renewal and its subsidiaries. Mr. David Rees, Esq. has been appointed the new President and CEO and will chair the company's Board of Directors.
Mr. Rees is a Partner in the Salt Lake City firm of Vincent & Rees. Mr. Rees has specialized in mergers and acquisitions as well as structured financing. He continues to assist companies in going public and raising capital both domestically and internationally.
Mr. Rees has served as general counsel to numerous public and private companies, and was Vice President for a large investment banking firm. He has extensive background in the oil and gas, public utility and petrochemical arenas. Mr. Rees has advised several companies including, Lyondell, Potomac Energy, Entergy and many independent oil and gas companies.
Mr. Rees received his B.A. from Weber State University and his J.D. from New York University.
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There is quite a difference in the PR's above. Hopefully, the management and transparency of the company will also be such a contrast...in content and style.
Waves of Crude Oil & Natural Gas:
