(Source: MARKETWIRE)

Petro Resources Corporation, an independent oil & gas exploration and production company located in Houston, Texas (NYSE Amex: PRC) ("the Company"), announced today that effective May 22, 2009, Mr. Gary C. Evans has joined the Company as Chairman of the Board. Additionally, Mr. Ronald D. Ormand has also joined the Company as Executive Vice President, Chief Financial Officer and a member of the Board of Directors.
Mr. Evans previously founded and served as the Chairman and CEO of Magnum Hunter Resources, Inc., a NYSE listed company, for twenty years before selling Magnum Hunter to Cimarex Energy in a $2.2 billion transaction in June 2005. During Mr. Evans' tenure as the CEO, the common shareholders of Magnum Hunter averaged an annual rate return on their investment of approximately 37%. After the sale of Magnum Hunter, Mr. Evans formed GreenHunter Energy, Inc. (NYSE Amex), a renewable energy company focused on biodiesel, wind and biomass power, and currently serves as Chairman and Chief Executive Officer. Additionally, Mr. Evans serves as Chairman and Chief Executive Officer of Gruy Petroleum Management LLC, Inc., a privately held oil and gas operating company. Mr. Evans serves as an Individual Trustee of TEL Offshore Trust, a NASDAQ listed oil and gas trust, and is Lead Director for Novavax Inc., a NASDAQ listed vaccine pharmaceutical company. Mr. Evans also serves on the Board of the Maguire Energy Institute at Southern Methodist University. Mr. Evans was recognized by Ernst and Young as the Southwest Area 2004 Entrepreneur of the Year for the Energy Sector and was subsequently inducted into the World Hall of Fame for Ernst & Young Entrepreneurs.
Mr. Ormand has over twenty five years of investment and commercial banking experience in the energy industry. Most recently, Mr. Ormand served as Senior Vice President and Chief Financial Officer for Gruy Petroleum Management LLC, Inc. and as President of Perugia Advisors, Inc., a financial advisory and private investment firm focused on the energy industry. Mr. Ormand previously served as President, Chief Financial Officer and member of the Board of Directors of Tremisis Energy Acquisition II, Corp., ("Tremisis II") a special purpose acquisition company focused on energy and environmental projects until the sale of a majority interest in Tremisis II to a Korean Investment group in March 2009. Mr. Ormand remains as a member of the Board of Directors of Tremisis II. From 2005 to 2007, he served as Managing Director and Head of the North American Oil and Gas Investment Banking group at WestLB AG. From 1988 until December 2004, Mr. Ormand was with CIBC World Markets and Oppenheimer & Co., and served as Managing Director and Head of CIBC World Markets' U.S.