Proper Power & Energy Announces Management Restructuring and Strategic Alliance
PR Newswire “Press Releases US – English”
TAMPA, Fla. , Jan. 18, 2011 /PRNewswire/ — Proper Power & Energy, Inc. (OTC Bulletin Board: PPWE) announced today that it has restructured its executive management team and entered into a strategic alliance.
Andrew J. Kacic will replace Joseph Abdo as President of Proper Power & Energy . Mr. Kacic brings more than 32 years of progressive experience as a chief executive in oil and gas, investment banking, insurance services and public securities. Mr. Kacic was the founder and president of American Resources of Delaware , Inc. and its subsidiary Southern Gas Company , successfully taking assets from $220,000 to more than $40 million in less than 4 years. Mr. Abdo will remain the Chief Executive Officer and Chairman of the Board.
Concurrently to the management restructuring, the Company has entered into a strategic alliance with Douglas Kiggins , founder of Mayo Energy Partners . Mr. Kiggins will assist Mr. Kacic in the development of the Company’s Utah asset, with the target goal of drilling the first exploratory well in Utah by third Quarter 2011. Mr. Kiggins has participated in the drilling and development of over 250 oil and gas wells in Texas , Oklahoma and Colorado , with the deepest well reaching a total depth over 21,000 feet.
“The Company is now postured to accelerate the development of both Utah and Kentucky in the first Quarter 2011,” Mr. Abdo stated.