Park Place Energy Inc. announced 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. Dr. Arthur Halleran (Ph.D. Geology) has been appointed President and Chief Executive Officer, David Thompson as Chief Financial Officer and Ijaz Khan as Corporate Secretary and Treasurer. Dr. Halleran has 37 years of petroleum exploration and development experience predominantly international. In 2007, Dr. Halleran founded Canacol Energy Ltd. Dr. Halleran has been a director and technical advisor to Park Place since 2011 and is very familiar with Park Place's business; this will ensure a smooth transition of management. David M. Thompson, the company's new Chief Financial Officer, has over 30 years financial experience in the oil and gas industry. He founded a Bermuda oil trading company in with offices in the U.S. and Europe. He was responsible for the company's production operations in Turkmenistan and successfully raised over $100 million in equity and negotiated the farm-out of a number of company assets. Ijaz Khan, the company's new Secretary/Treasurer, was formerly general counsel for Kuwait Gulf Oil Company and Vice President, Special Projects, for United Hydrocarbon International Corp.

The company's 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.