|Wed Jun 20, 2018|
Oracle Announces Results of Annual General Meeting and Organizational Changes
|Vancouver June 20, 2018 - Oracle Energy Corp. ("Oracle" or the "Company") (TSX.V: OEC) (Frankfurt: O2E) is pleased to announce results of the annual general meeting held June 12, 2018. All matters presented to our shareholders were overwhelmingly approved including the reappointment of Darrell McKenna, Art Green, Nasim Tyab, James Ladner and Peter Francis to the board of directors (the "Board").|
In accordance with Oracle's shift away from Africa and its new focus on the Texas Eagle Ford play, as described in the June 19 press release, Oracle has made changes to its organization.
Messrs. Howard Jeter and Cyril Odu were not re-nominated to the Board. Peter Francis has resigned, effective June 15, from the Board and from his role as CEO. Messrs. Martin Yeo and Des Norris, who were serving as Planning Manager and Geoscience Manager respectively, have left the company. Oracle is grateful to Ambassador Jeter, Cyril, Peter, Martin and Des for their contributions.
The Board now consists of 4 members: Darrell McKenna, Chairman; Nasim Tyab; Art Green and James Ladner. Oracle expects that there will be additional appointments to the Board as the Eagle Ford project develops.
Darrell McKenna, in addition to his role as Chairman will assume the role of CEO. Art Green is Producing Manager. Nasim Tyab is Capital Markets Strategist. Mark Forster will continue in his role as interim CFO. Additional senior appointments will be made as the deals announced in the June 19 release close.
ON BEHALF OF THE BOARD OF DIRECTORS.
Darrell McKenna, Chairman
About Oracle Energy Corp.
Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an international oil and gas exploration and development company.
For more information on Oracle Energy visit www.OracleEnergy.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward- looking statements in this release are made pursuant to the 'safe harbour' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.