On Wednesday July 27, 2011, Hull Energy, Inc. (PINK:HULL) announced the implementation of its new all-embracing restructuring program, according to which the company has renovated its management.
The restructuring program has been under taken by the company in order to bring about an up gradation of its existing short- and long-term financial condition thereby creating greater share holder value.
In accordance to the restructuring plan, Ron Ratner resigned from the post of Company’s sole officer and director, on July 14, 2011. Mr. Anthony Maye has been appointed as the new incumbent to the posts of President, Chief Executive Officer, Chairman of the Board and Secretary Treasurer. These valued posts have been entrusted upon him, considering his extensive experience in the field of management in various oil companies in West Texas.
Mr. Anthony Maye, upon entering his new office said that he is determined to get started with the developmental works. His strategy is to identify additional oil leases with producing wells which has the caliber of generating sufficient revenues for positive cash flow, the acquisition of additional leasehold interests and for general working capital. He is convinced that the said plan will be effective in bringing about a positive development of the company and enhance the share holder value.
Mr. Ratner has expressed his best wishes to the new experienced incumbent, whom he believes will provide efficient service to the company in their development process. He also exclaimed that he has gathered a pleasing yet challenging experience in directing Hull Energy for the past several years.
The company is planning to move its corporate headquarters to West Texas with its new management.
Shared of HULL slumped 25% to $0.0060.
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