PetroSun Announces Resignation of Chief Executive Officer
PetroSun, Inc. (OTC PINK:PSUD) announced the resignation of Dr. R. Gerald Bailey as CEO and Director, effective November 23, 2022. Dr. Bailey cited the pursuit of other industry opportunities as his reason for leaving, expressing positive sentiments regarding his tenure and the company’s drilling project at Manuel Seep. The Chairman, Gordon LeBlanc, Jr., acknowledged Dr. Bailey's contributions and confirmed that a search for a new CEO with relevant energy experience is underway to advance the company's helium exploration and production initiatives.
- Dr. Bailey's resignation allows for fresh leadership and potential strategic shifts.
- The company is actively seeking a new CEO with energy exploration experience to enhance operations.
- The departure of a long-serving CEO may raise concerns about leadership stability.
- Potential gaps in experience until a new CEO is appointed could hinder decision-making.
PHOENIX, AZ / ACCESSWIRE / November 30, 2022 / PetroSun, Inc. (OTC PINK:PSUD; the "Company") announced today that Dr. R. Gerald Bailey, who has served as the Chief Executive Officer of PetroSun since June 1, resigned as CEO and as a Director of the Company, effective November 23, 2022.
Dr. Bailey stated, "I have resigned to pursue other opportunities in the industry. I am pleased to have contributed to the commencement of and progress on the Company's current drilling project at Manuel Seep."
Dr. Bailey added, "My five years with PetroSun was a positive experience, and I wish the Company all the best. I appreciate the support I always had from the Chairman, Gordon LeBlanc, Jr."
The Chairman of the Company, Gordon LeBlanc, Jr., commented, "I have enjoyed working alongside Jerry as both an officer and director of PetroSun, and I appreciate his years of service to the Company's shareholders. The Company has commenced a search for a CEO with experience in energy exploration and production operations to lead the Company and execute on our deep inventory of helium opportunities."
ABOUT PETROSUN, INC.
PetroSun, Inc. owns significant leasehold acreage that is prospective in helium exploration and production in the Holbrook Basin of Arizona and prospective for natural gas and helium in the Paradox Basin of Utah. The Company holds mineral leases on approximately 280,000 gross acres in the Holbrook Basin and over 26,000 gross acres in the Paradox Basin. The Company trades on the OTC Pink Sheets under the symbol "PSUD".
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "ongoing", "plan", "potential", "predict", "project", "should", "will", "would", or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTCMarket.com website.
Contact:
PetroSun, Inc.
2999 North 44th Street, Suite 620
Phoenix, Arizona 85018
480-425-4290
Website: www.petrosun.us
SOURCE: PetroSun, Inc.
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FAQ
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