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International PetroReal Announces Election of New Board of Directors
Calgary, Alberta, August 8, 2008 – International PetroReal Oil Corporation (TSX-V:IPO)(“PetroReal” or “the Company”) today announced that, at the Company’s Annual and Special Meeting of Shareholders held late yesterday, shareholders elected the following Board of Directors. The Board is comprised of the following individuals:
Ernst Schlotter, Director of International PetroReal since November 2007, President and Chief Executive Officer of SISM Research, a Swiss financial analysis firm
Rolf Uebersax, Director of International PetroReal since June 2006, accountant and owner of Swiss consulting firm RMU
Patrick McGowan, Chief Financial Officer, Executive Vice President and Director of MIV Therapeutics Inc.
Gregor Rominger, independent Swiss-based consultant for international banks
The Board has appointed the following officers as its new management team:
Ernst Schlotter, President and Chief Executive Officer
Patrick McGowan, Chairman
Edward Borrelli, Executive Vice-President
Mr. Borrelli is the President of Dunedin Inc., an international corporate advisory services firm based in New York. “The new management team plans to invigorate the Company by consolidating the inventory of prospects available to it” said Ernst Schlotter, President. “PetroReal’s investment fundamentals are underpinned by solid assets that can deliver increased, sustainable shareholder value over the near and long term,” said outgoing President, Mark Hlady. “The outgoing management team looks forward to working with the new Board to effect a seamless transition, with shareholders’ best interests in mind.”
About International PetroReal Oil Corporation
International PetroReal Oil Corporation is a Calgary-based, emerging, TSX Venture-listed company focused on exploration, exploitation, development and production of oil and gas primarily in North America. Recently restructured, the Company's invigorated business plan is to enhance shareholder value through a pragmatic strategy of exploration, acquisition and timeliness.
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