TULSA, Okla., March 14, 2007 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW), a rapidly growing diversified oil and gas regional operator specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, and oil field services, today announced changes in corporate governess. Mr. E. Will Gray II has resigned from all corporate positions at Well Renewal and its subsidiaries. Mr. David Rees, Esq. has been appointed the new President and CEO and will chair the company's Board of Directors.
Mr. Rees is a Partner in the Salt Lake City firm of Vincent & Rees. Mr. Rees has specialized in mergers and acquisitions as well as structured financing. He continues to assist companies in going public and raising capital both domestically and internationally.
Mr. Rees has served as general counsel to numerous public and private companies, and was Vice President for a large investment banking firm. He has extensive background in the oil and gas, public utility and petrochemical arenas. Mr. Rees has advised several companies including, Lyondell, Potomac Energy, Entergy and many independent oil and gas companies.
Mr. Rees received his B.A. from Weber State University and his J.D. from New York University.
About Well Renewal, Inc.
Well Renewal, Inc., headquartered in Tulsa, Oklahoma, is principally engaged in oil and gas exploration as well as enhancement and recovery of abandoned and low production oil properties, and oil field services.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.