HOUSTON, June 24, 2011 (GLOBE NEWSWIRE) -- EFL Overseas Inc. (OTCBB:EFLO) ("EFLO" or "the Company"), announces the appointment of James Ebeling to its Board of Directors.
"We are very pleased that Jim Ebeling has agreed to join our Board of Directors," stated EFLO President, Keith MacDonald. "Jim's addition enhances the Company's big project skill set and increases our experience in negotiating world-class energy transactions. His efforts will be helpful in commercializing our Texas operations and in pursuing completion of our acquisition of the Kotaneelee gas fields and processing facilities."
James Ebeling has been the Chief Financial Officer of Holloman Corporation since November 2007. Holloman's operations extend to three continents and include plant and pipeline construction, oil and gas exploration, and international heavy-equipment leasing. During the period from 2001 to 2007, Mr. Ebeling was Vice President of SUEZ Energy North America, Inc. In that capacity, he provided project management and development services on a variety of multi-billion dollar energy related projects. Prior to 2001, Mr. Ebeling served as: Vice President of Hawkins Oil and Gas (1996-2001), Vice President of Transworld Oil Company (1989-1996), Vice President of Anchor Coupling, and Vice President of The Charter Company.
About EFL Overseas
Beginning in 2010, EFLO announced pursuit of an acquisition of certain working interests in the Kotaneelee gas facility and its related proven and producing gas fields located in the Yukon Territory, Canada. EFLO is currently a party to negotiations with multiple interest holders in those assets.
In April 2011, the Company initiated oil and gas operations through its execution of Farmout and Participation Agreement for the acquisition of a net working interest ranging from 21.25% to 42.5%, in a 2,629 acre oil and gas lease located in southwest Texas.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS
EFL Overseas Inc.