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If oil really is headed higher soon, don't you think it is a good idea to be with oil stocks that have held up well even during this recent market decline? It makes sense that stocks which have shown strength in this difficult time will only further blossom when oil prices rebound.
That leads us to our latest trade idea---Capital City Energy Group (CETG). This is a high growth energy company that is pursuing what it calls a "Triad" business model, which consists of Fund Management, Principal Investments and Strategic Acquisitions of energy related companies.
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CETG News - Capital City Energy Group Appoints Joseph Sites to its Board of Directors and Charles Kendall to Additional Positions of Director of Business Development and Land Management
Capital City Energy Group, Inc. (OTCBB: CETG | Quote | Chart | News | PowerRating) or "Capital City" announced today that it has appointed Joseph Sites to its Board of Directors and the position of Executive Vice President and has promoted Charles Kendall from the position of Director of Business Development and Land Management to president of Avanti Energy Partners, the Company's oil & gas operating company which is a wholly owned subsidiary. Mr. Sites is president of Hotwell Services, an oil field services company recently acquired by Capital City.
"I am pleased that Joseph has joined our Board of Directors and that Charles has assumed an expanded role," said Timothy Crawford, CEO of Capital City Energy Group. "Each has extensive experience in helping developing oil and gas companies grow, and we look forward to the role that each will play as we grow our operations."
Mr. Sites founded Hotwell Services in November of 2007. He has a record of achievement in both publicly held (Schlumberger Limited) and privately held (J-W Wireline Company) oilfield service firms. Mr. Sites possesses domestic and international experience in all facets of the wireline business including field engineering, operations management, personnel development and business development. Throughout his professional career, Mr. Sites has been routinely recognized as a leader in service quality and safety - the two cornerstones of successful oilfield operations. He holds a degree in Chemical Engineering from the University of Pittsburgh.
Mr. Kendall began his career with Giant Petroleum Corp. in Tulsa, OK as a landman and was quickly promoted to Head of Operations. He later formed Petroleum Land Services, which became PetroSearch, Inc., a company that provided land related services to oil and gas companies throughout the Appalachian basin. Prior to joining Capital City, Mr. Kendall managed all Ohio lease acquisitions for Schreiner Oil & Gas, Inc. and was responsible for surveying, land title work, and permitting. These include supervision of an 80,000 acre lease acquisition program for Belden & Blake Corp. He brings over 30 years of experience in the oil & gas industry.
About Capital City Energy Group
Based in Columbus, Ohio, Capital City is a diversified oil and natural gas company with three separate divisions. Capital City has evolved from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil and natural gas companies, which is publicly-traded. Its strategy is to continue to grow a portfolio of core areas which provide growth opportunities through drilling, operating, oil field service companies, acquisitions and fund management.
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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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