HOUSTON, May 2 /PRNewswire-FirstCall/ -- Caspian International Oil Corporation (OTCBulletinBoard:CIOC) (CIOC), which provides seismic surveys and other oil field services to the petroleum industry in Kazakhstan and elsewhere in Central Asia and operates an oil field in Western Kazakhstan, today reported that David Fulton has been named as Vice President-Finance. In his new position, Mr. Fulton, who brings more than 25 years of experience in the international oil and gas industry, serves as Chief Financial Officer for CIOC and is responsible for directing the company's finance and accounting functions, including its external reporting and filing requirements. Mr. Fulton reports to James. E. Knight, President and CEO of CIOC.
"We are very pleased to have David as a member of the CIOC team," said Mr. Knight. "As CIOC pursues our growth strategy to expand our areas of operations and lines of service to our clients, we are excited to strengthen our management team with David, who has extensive experience in international oil and gas financial and accounting activities. David also will be working with me in our communications with the financial community and investors to update them on our operations and progress."
Mr. Fulton, who graduated with a bachelor's degree in accounting from Texas A&I University, worked for more than 25 years at Union Texas Petroleum, an independent exploration and production company with international operations including Kazakhstan. During his career at Union Texas, Mr. Fulton held positions of increasing responsibilities in the company's accounting department, including Assistant Controller of its international accounting and external reporting functions.
Headquartered in Houston, CIOC acquired its current operations in August 2006 with the merger of several Kazakhstan companies, principally Dank and Kor-Tazh. Dank and PGD Services (a subsidiary of Dank) provide oil field services including 2-D and 3-D seismic acquisitions, data processing and interpretation, reservoir modeling and topography to the petroleum industry in Kazakhstan and elsewhere in Central Asia, while Kor-Tazh operates an oil field in Western Kazakhstan. CIOC's common stock is traded on the OTC Bulletin Board (OTCBB) under the stock symbol "CIOC.OB".
This news release may contain "forward-looking statements" about the business, financial performance and prospects of the company. Statements about the company's or management's plans, intentions, expectations, beliefs, estimates, predictions or similar expressions for the future are forward- looking statements. No assurance can be given that the outcomes of these forward-looking statements will be realized, and actual results could differ materially from those expressed as a result of various factors. A discussion of these factors, including risks and uncertainties, is set forth from time to time in the company's filings with the U.S. Securities and Exchange Commission.
Contact: Rich Miller Mirador Consulting 877-647-2367
Source: Caspian International Oil Corporation