Hartsdale, N.Y., USA - July 30, 2010, Hartsdale, N.Y., USA - Camac Energy announced that Frank C. Ingriselli will retire from his position as CEO, president and member of the board, effective August 1.
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Mr. Ingriselli has more than 30 years experience in the energy industry. Before founding Camac Energy (formerly known as Pacific Asia Petroleum), Mr. Ingriselli spent 23 years at Texaco in diverse senior executive positions involving power and gas operations, merger and acquisition activities, pipeline operations and corporate development.
Mr. Ingriselli served as President of Texaco Technology Ventures, President and CEO of the Timan Pechora Company, and President of Texaco International Operations, Inc. He led Texaco's global initiatives for exploration and development in key new countries at that time, including China and Russia.
Following the ChevronTexaco merger in 2001, Mr. Ingriselli retired as President of Texaco Technology Ventures, where he oversaw Texaco's multi-billion dollar global technology initiatives and investments. Mr. Ingriselli holds a Master of Business Administration degree from New York University in both Finance and International Finance, and a Juris Doctor degree from Fordham University School of Law.
The company also announced that board member William E. Dozier has been appointed interim chief executive officer and Abiola Lawal has been promoted to executive vice president and chief financial officer after serving as interim chief financial officer since May 17, 2010. Mr. Ingriselli will stay on as a consultant to provide transitional support through September 30, 2010.
Mr. Dozier is an independent consultant and the President of Extex Consulting, Inc. He also currently serves on the Board of Directors of Evolution Petroleum Corporation, a Houston-based public company active in the acquisition, exploitation, development, and production of crude oil and natural gas resources.
Mr. Dozier has held several key executive positions including Senior Vice President - Business Development and Senior Vice President - Operations at Vintage Petroleum, Inc. (a NYSE listed independent oil and gas company), which was acquired by Occidental Petroleum for $3.8 billion in 2006.
Mr. Dozier also served as Manager of Operations Engineering for Santa Fe Minerals Inc., an independent oil and gas company. He began his career with Amoco Production Company in 1975, working in all phases of production, reservoir evaluations, drilling and completions in the Mid-Continent and Gulf Coast areas.
Mr. Dozier has been a member of the Society of Petroleum Engineers (SPE) since 1973. As a registered professional engineer, he is also an active member of the Independent Petroleum Association of America (IPAA).
Mr. Lawal has extensive experience working with both private and public companies. Throughout his career, Mr. Lawal has served in various senior management and director positions driving corporate strategy, process efficiencies and value maximization.
Mr. Lawal served as Executive Vice President and Chief Strategic Offer for CAMAC International and Allied Energy, Group Chief Strategy Officer at Oando Plc., Senior manager with SAP Business Consulting, and CEO at eWorldtrack Mobile Technologies. ■