PLEDGE PETROLEUM CORP. (OTCMKTS:PROP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 30, 2017, C. Brian Boutte provided Pledge Petroleum Corp. (the “Company”) with notice of his resignation as Chief Executive Officer and President, effective March 31, 2017. Mr. Boutte served as the Company’s Chief Executive Officer and President since 2016.
About PLEDGE PETROLEUM CORP. (OTCMKTS:PROP)
Pledge Petroleum Corp., formerly Propell Technologies Group, Inc., is an oil exploration and production (E&P) acquisition company. The Company focuses on building a base of producing assets by using technology, including Plasma Pulse well treatment, which uses no acidization, hydrofracking or other chemicals. The Company’s segment is the Plasma Pulse Technology for the petroleum industry. Through its subsidiaries, Novas Energy USA, Inc. and Novas Energy North America, LLC (NENA), the Company intends to manage oil production using the Plasma Pulse Technology. The Plasma Pulse Technology is an Enhanced Oil Recovery methodology and process. The Plasma Pulse Technology utilizes a down-hole tool that is lowered into vertical wellbores to the perforated oil producing zone. The Plasma Pulse Technology is suitable for oil wells as deep as approximately 12,000 feet. PLEDGE PETROLEUM CORP. (OTCMKTS:PROP) Recent Trading Information
PLEDGE PETROLEUM CORP. (OTCMKTS:PROP) closed its last trading session 00.0000 at 0.0285 with 50,730 shares trading hands.