HOUSTON, Dec. 3, 2015 /PRNewswire/ -- Hydrocarb Energy Corporation (OTCQB:HECC) announced that Mr. Robert M. Harrell has joined the company's Board of Directors as the second independent director effective November 23, 2015. The company previously disclosed the appointment of Mr. Harrell in its Current Report on Form 8-K filed with the Securities and Exchange Commission on November 23, 2015. Now with two out of three directors being deemed independent, the company has a majority independent board.
When asked to comment, the Company's Chairman, Kent P. Watts stated, "We are very happy that Bob has joined our board. He has the background and experience to help direct Hydrocarb through this current industry downturn and allows us to maintain a majority of independent Board of Directors. We believe that strengthening our corporate governance in this manner can be a major factor to help us improve the market for our common stock and one more requirement to check off the list for us to be able to obtain listing on a major stock exchange. We continue to be on the lookout for qualified directors and may add additional directors as we move forward."
About Robert M. Harrell
Mr. Harrell has served as the Director of Offshore Select, Americas, of INTECSEA, Inc., an offshore engineering company, since December 2014. From November 2011 to September 2014, Mr. Harrell served as President Europe Region (2013 to October 2014) and Vice President Sales & Commercial, Asia Pacific Region (2011 to 2012), of Wison Offshore & Marine Ltd., a marine contracting company. From June 2005 to October 2011, Mr. Harrell served in various positions with Williams Companies, Inc. ("Williams"), including General Manager – Western Gulf of Mexico (2011), General Manager – Eastern Gulf of Mexico (2010) and Director Technical Services – Deepwater (2005 to 2009). Mr. Harrell obtained a Bachelor of Civil Engineering Degree from the Georgia Institute of Technology in 1975 and a Master of Business Administration from Harvard University in 1982.
About Hydrocarb: Hydrocarb Energy Corporation is a publicly-traded Domestic and International Energy Exploration and Production Company targeting major under-explored oil and gas projects in emerging, highly prospective regions of the world. With exploration concessions in Africa and domestic production in Galveston Bay, we maintain offices in Houston, Texas, and Windhoek, Namibia.
For further information: www.hydrocarb.com.
This news release includes "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. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward looking words including "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Forward-looking statements are subject to risks inherent in natural gas and oil drilling and production activities, including risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; delays in receipt of drilling permits; risks with respect to natural gas and oil prices, a material decline which could cause the company to delay or suspend planned drilling operations or reduce production levels; risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in natural gas and oil prices; risks relating to unexpected adverse developments in the status of properties; risks relating to the absence or delay in receipt of government approvals or fourth party consents; and other risks described in the company's Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC, available at the SEC's website at www.sec.gov. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the company. The company's SEC filings are available at http://www.sec.gov.
PCG Advisory Group, LLC
Chuck Harbey, +1-646-863-7997
Managing Director, Corporate Advisory
Kent P. Watts, CEO
800 Gessner, Suite 375
Houston, Texas 77024
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SOURCE Hydrocarb Energy Corporation