Epsilon Energy Ltd. Terminates Ramik Arandjelovic as President, Effective November 30, 2013
November 20, 2013 at 09:48 pm
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Epsilon Energy Ltd. (Canada) announced that in its ongoing efforts to reduce G&A, the Board and CEO have decided to eliminate the position of President. As a result, Epsilon has terminated the employment contract of the President which was put in place by the prior Board. Ramik Arandjelovic, Epsilon's President, will transition out of the company effective November 30, 2013.
Epsilon Energy Ltd. is an onshore focused independent natural gas and oil company. The Company is engaged in the acquisition, development, gathering and production of natural gas and oil reserves. It operates through three segments: Upstream, Gathering System, and Corporate. Upstream activities segment includes acquisition, exploration, development and production of oil and natural gas reserves on properties within the United States. Gathering System segment partner with two other companies to operate a natural gas gathering system. The Company holds leasehold rights to approximately 84,684 gross (15,463 net) acres. It has natural gas production in the Marcellus Shale in Pennsylvania and oil, natural gas liquids and natural gas production in the Permian Basin in Texas and New Mexico and in the Anadarko Basin in Oklahoma. Its subsidiaries include Epsilon Energy USA Inc., Epsilon Midstream, LLC, Altolisa Holdings, LLC, and Dewey Energy Holdings, LLC.