DALLAS, TX–(Marketwired – Jul 11, 2013) – Petron Energy II, Inc. (OTCBB: PEII) announced today that it will add a new member to its Board of Directors and operation update.
Petron Energy II, Inc., together with its subsidiaries, engages in the acquisition and development of properties for the production of crude oil and natural gas, transporting natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary in the United States.
Petron II announced that it will add Judson F. Hoover to its Board of Directors. Mr. Hoover has served as CFO of several Public Companies for over 10 years. Mr. Hoover is a licensed CPA; and has a B.S. in Accounting from Regis University and a Master’s Degree in Taxation from the University of Colorado at Denver. This addition brings the total participants on the Petron II board to 3.
Floyd Smith, President and CEO of Petron Energy II, Inc., states, “Mr. Hoover will provide several strengths to our company and we are extremely excited to have him join the Petron II family.” Mr. Hoover states, “I am honored to join a team that has vision, and a great business plan. Petron II, under Floyd’s direction has been innovative in every area. I look forward to working with such a dynamic and creative team.”
Recently, we preformed completion operations on our Covenant #5 and LaNina #2 wells, operations involved acid stimulation treatments on both wells. After swab test were ran on each well the test returns yielded oil. These results are very positive and allow us to move to the next stage of completion which is scheduled for Friday. We have scheduled sand fracture stimulation treatments on each well for Friday. We expect to report production results in the next 10 days.