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Centor Energy (CNTO), down 16%, adds to board

Gaalen Engen Gaalen Engen,
0 Comments| January 3, 2014

Centor Energy (OTCBB:CNTO, StockForum), a Winterpark Florida-based exploration stage company engaged in developing and exploring mineral properties in Nevada and the Republic of Ghana West Africa, announced today that Centor had appointed C.W. Chapman to their advisory board and launched the new corporate website.


According to the news release, Mr. Chapman, a forty-year industry veteran, is a professional engineer with developed experience in reservoir engineering and product optimization.


Chapman also founded Petroleum Engineering in 1985 and is currently the president of said firm. The company provides extensive petroleum engineering, geological, geophysical and management services for an international client base. He is also a member in such organizations as the Association of Professional Engineers and the Society of Petroleum Evaluation Engineers (“SPEE”).


Centor president and CEO, James Michael Sullivan, commented on the days events, “Mr. Chapman is an extraordinary addition to the Centor team. As an Advisory Board member the Company will benefit from Mr. Chapman's expertise in optimizing operations as well as a wealth of industry knowledge and contacts to obtain resources, recruit professional services and target additional acquisitions.”


Sullivan added, "I also welcome you to visit our new corporate website where you will find additional information on the Company, our recent acquisition of shale oil resources and our going forward strategy.”


Then he summed up, “As always our goal is to keep our shareholders fully informed and provide profitable growth and consistently expand shareholder value for the Company.”


Centor was in the news recently when the company entered into a purchase agreement for oil shale resources in the middle of December.


Shares dumped 16% on the news to $1.95 per share.


Currently there are 68.7m outstanding shares with a market cap of $134.0 million.


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