Osyka Corporation Adds New Members to Its Board
18 June 2010 - 1:34AM
Business Wire
Osyka Corporation (“Osyka”), a Houston-based energy company
specializing in exploration, production, development, and
acquisition of oil and gas properties, today announced the addition
of three new members to its board of directors. The company also
filed its quarterly unaudited financial statements with
pinksheets.com.
“With the addition of our new board members, Osyka has taken
another step in positioning the company for future growth,” said
founder and CEO Michael Harness. “We believe their experience,
insight, and skills will be beneficial to Osyka as we move the
company forward.”
The new board members are as follows:
Tyrone G. Byrd, President of Y & T Development, LLC, a
privately-held real estate company. Previously, Mr. Byrd served as
Treasurer of Texaco Worldwide Exploration and Production Company
and Assistant Treasurer of Texaco Inc.
Bryan Brown, is currently Partner in the Corporate; Securities;
Merger and Acquisitions section of Porter & Hedges, LLP law
firm. Previously Mr. Brown served as Corporate and Finance Counsel,
McDermott International, Inc. and later for the U.S. Securities and
Exchange Commission.
C. Duane Roberts, founder and CEO of Charis Industries Co., one
of the largest minority controlled holding companies in the
financial services sector. Formerly, he was an investment advisor
with significant financial firms, including JC Bradford &
Company, JB Oxford & Company, and Rodman and Renshaw.
For the quarter ending March 31, 2010, the company also reported
revenue of $388,710. The company’s net loss was $462,787 or $.0015.
Osyka ended the quarter with approximately $1 million in cash on
hand.
The company’s management team has a strong track record of
finding underdeveloped oil and gas exploitation opportunities
principally in the onshore Louisiana, Mississippi and Texas Gulf
Coast. Currently, the company has an interest in approximately 18
wells in Texas and Mississippi, with an average working interest of
70%.
ABOUT OSYKA CORPORATION
Osyka Corporation is an oil and gas company headquartered in
Houston, Texas, and is a Nevada corporation. The company is an
independent exploration and production company with a focus on
acquiring producing oil and gas properties located onshore in the
Gulf Coast with upside economic potential.
For company information, visit www.osyka.com.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that
involve risks and uncertainties, which may cause actual results to
differ materially from the statements made. When used in this
document, the words “may”, “would”, “could”, “will”, “intend”,
“plan”, “anticipate”, “believe”, “estimate”, “expect” and similar
expressions are intended to identify forward-looking statements.
Such statements reflect Osyka’s current views with respect to
future events and are subject to risks and uncertainties. Many
factors could cause actual results to differ materially from the
statements made including those factors detailed from time to time
in filings made by Osyka with securities regulatory authorities.
Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated or expected. Osyka does
not intend and does not assume any obligation to update these
forward-looking statements.
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