Petrolium Oil Alliance, Inc. Announces Changes in Management
17 Juli 2009 - 1:28PM
Marketwired
Petrolium Oil Alliance, Inc. announces changes in management within
Petrolium Oil Alliance as well as removal of several members of
management and the board members from its wholly owned subsidiary
PetrOil Inc. formerly CybeRecord, Inc. (PINKSHEETS: CYRD). In order
to aggressively pursue the company's business model the Majority
Shareholder of Petrolium Oil Alliance, Inc. has accepted the
resignation of President Wadah Richad Kilani, and Executive V. P. -
Middle East and African Development: Mohammad Rashad Zeid. The
President's corporate responsibilities will be assumed by the
office of the International Director/CEO. To aggressively pursue
the company's strategic expansion strategy Mr. Jean-Jacques Monnet
is assuming the position of the African Development and two new
executive positions have been created; Mr. Richard Brundle as head
of Merger and Acquisitions, and Mr. Ram�n Girard� as head of Oil
and Gas Exploration.
Additionally, the majority shareholder has removed from its
wholly owned subsidiary PetrOil Inc. formerly CybeRecord, Inc.
(PINKSHEETS: CYRD) President Munther Daher, Secretary Ibrahim Gad,
and Director Jamal Alassaf, the other board members remain
unchanged. Director Alfred Victor Brewster has been appointed to
the position of President, and Marcel Diab has assumed the position
Secretary and Director. The company re iterates the management
change will have no effect on the capital structure of the company.
No additional shares will be issued and there will be no reverse
splits.
Petrolium Oil Alliance, Inc. is an IBC with representation
offices in Riyadh, Dubai, Doha, Hong Kong, Moscow, St Petersburg,
Rotterdam, and Cyprus specializing in oil distribution and other
related petroleum, gas and energy industries.
The above news release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on assumptions that management
believes are reasonable based on currently available information,
and include statements regarding the intent, belief or current
expectations of the Company and its management. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performances, and are subject to a
wide range of business risks, external factors and uncertainties.
Actual results may differ materially from those indicated by such
forward-looking statements. The Company assumes no obligation to
update the information contained in this press release, whether as
a result of new information, future events, or otherwise.
CONTACT: Petrolium Oil Alliance, Inc. Marcel Diab Secretary
Director Tel: +966-1 211-8157
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