Oct 21, 2021: Empire Petroleum Corporation is pleased to announce that its Board of Directors has unanimously voted to appoint Phil Mulacek and Ben Marchive as members of the company’s Board of Directors effective immediately.
“I am proud to join my fellow Empire directors, as my first Board seat in over 8 years. I am committed to Empire as evidenced by being its largest individual shareholder. I see Empire as a company that can excel above others with material scalability in today’s market.” – Phil Mulacek
“It’s been a pleasure to work with Phil over the last year, first as joint development partner in our Fort Trinidad Field, Texas and, more recently as a key financial partner in our May acquisition of the Eunice Monument Field in the Permian Basin from ExxonMobil,” stated Mike Morrisett, President of Empire. “We look forward to Phil and Ben playing a vital role on our Board as we establish a financially superior company with core operational performance.”
Phil Mulacek has a proven track record of over 40 years in global oil and gas and LNG development. He was the founder and former Chairman and CEO of an NYSE-listed InterOil company and retired in 2013. Under his 14-year tenure, the company’s market cap increased from US$10 million to over US$5.6 billion, with the share price improving from US$0.50 cents to over US$109 per share. Mr. Mulacek led the discovery of 1.6 billion barrels of oil equivalent in Papua New Guinea.
Mr. Mulacek has a Bachelor of Science in Petroleum Engineering from Texas Tech University. Mr. Mulacek formed his private investment company, Petroleum Independent and Exploration Corporation (PIE Corp), in 1981. PIE Corp and its sister companies hold through recent private acquisitions a vast amount of oil and gas royalty mineral acreage in the United States. The acquisition secured long-term access to more than 400 properties and over 500,000 acres spreading from Texas to Georgia and Alabama.
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