HOUSTON, June 3 (UPI) -- GulfWest Energy Inc. of Texas said Thursday the board of directors had elected John Loehr as chief executive officer.
Loehr was previously chairman of the board of GulfWest from September 1993 through July 1998, and has been a director of GulfWest for over 12 years. He lives in Dallas and work at the GulfWest corporate office in Houston, as well as his office in Dallas.
The company said Loehr is taking the lead roll in considering various financing, recapitalization and merger/acquisition opportunities available to further grow the company. In addition he will focus on the financial aspects of the corporation. GulfWest recently closed an $18 million bridge financing, and is actively considering strategic alternatives to refinance this and other debt within the next nine months.
Thomas Kaetzer was CEO/president/COO of GulfWest and will continue with the company as president and COO. The company said by bringing in Loehr as CEO, Kaetzer will be able to focus on leading the development and operational activities of the company's oil and gas properties, as well as providing input on asset management decisions, and business development opportunities for additional growth of GulfWest.
