Particle Drilling Technologies, Inc.
Appoints
Independent Director
HOUSTON--(BUSINESS WIRE)--June 1, 2005—Particle Drilling
Technologies, Inc. (PDRT.OB) today announced that on May 31,
2005 it’s Board of Directors expanded the size of the Board
from six members to seven members and appointed Steve Weyel as
a Director to fill the vacant spot. Mr. Weyel has also agreed
to serve on the Company’s audit committee effective
immediately.
Mr. Weyel, age 51, is co-founder, principal, and
President and Chief Operating Officer of EnerVen LLC, a
company with strategic ventures in the energy industry.
EnerVen’s businesses include the start-up of WesCo LLC, a gas
compression services company, and EnerVen Compression
Services, a joint venture company with Enogex Inc., an
unregulated subsidiary of OGE Energy Corp. (NYSE: OGE),
providing compression asset rentals. Mr. Weyel has been a
principal of EnerVen LLC since 2001. Prior to EnerVen LLC, Mr.
Weyel was President of InterGen North America, a Shell –
Bechtel joint venture in the gas and power business, from 1999
to 2001. Mr. Weyel was responsible for the acquisition and
management of gas assets including gas storage, mid-stream gas
assets and over 15,000 miles of regulated pipelines,
development of greenfield merchant power projects, and
board-level oversight of InterGen’s equity ownership in Coral
Marketing and Trading.
Mr. Weyel was employed by Dynegy Corporation (previously
known as Natural Gas Clearinghouse and then NGC Corporation)
from 1994 to 1999. He served in several senior executive
leadership roles including Senior Vice President – Power
Development. Mr. Weyel began his career with Baker Hughes in
1976 and rotated through a variety of assignments including
responsibility for Baker Production Service’s operations in
North and South America. In 1985 he formed a start-up
technology and engineering driven oilfield services company,
Resource Technology Corporation (“RTC”), evaluating oil and
gas reserves around the world. RTC’s assets and ongoing
operations were later sold to John Wood Group PLC in 1993.
Mr. Weyel is a 1976 graduate of Texas A&M and
received his MBA from the University of Texas in 1989.
About Particle Drilling Technologies, Inc.
PDTI is a development stage oilfield service and
technology company owning certain patents and pending patents
related to the Particle Impact Drilling technology.
PDTI’s technology is designed to enhance the
rate-of-penetration function in the drilling process,
particularly in hard rock drilling environments. PDTI is
headquartered in Houston, Texas.
For further information please contact: J. Chris Boswell,
Chief Financial Officer, Particle Drilling Technologies, Inc.
+1-713-223-3031 x 204,
.
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