RE:RE:RE:When is Trillion going to raise the cash to do the work?I'm not sure why Trillion has struggled to finance this project. The former CEO walked away.
Dallas, Texas, July 31, 2017 – Park Place Energy Inc. (OTCQB: PKPL) (“Park Place” or the “Company”) announces that on July 17, 2017, Scott C. Larsen resigned as President and CEO of the Company and as a Director from the Board of Directors. In addition, on that same date, the following officers resigned their positions: Chas Michel resigned as Chief Financial Officer, David Campbell resigned as Vice President-Exploration and Francis M. Munchinski resigned as Corporate Secretary and Treasurer. Each of these officers also resigned from all capacities including their respective positions as officers and directors of the Park Place subsidiaries.
The Dallas, Texas office will close August 31, 2017. The Company’s activities are focused in Eastern Europe and Turkey. It currently has offices in Ankara, Turkey and Sofia, Bulgaria.
Dr. Arthur Halleran (Ph.D. Geology) has been appointed President and Chief Executive Officer, David Thompson as Chief Financial Officer and and Ijaz Khan as Corporate Secretary and Treasurer.
Dr. Halleran, the Company’s new President and CEO, stated: “Park Place Energy has excellent gas and oil production from its Turkey assets. The Dallas, Texas office closing is the first step in re-aligning company expenditures with production revenue. The new management will be looking at ways to reduce G&A and OPEX costs and increase production revenue.”