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Petrolium Oil Alliance, Inc.: Petrolium Oil Alliance, Inc. Announces Changes in Management

^{Published on 2009-07-17 04:41:37, Last Modified on 2009-07-17 04:41:44 - Market Wire}
 

RIYADH, SAUDI ARABIA--(Marketwire - July 17, 2009) - Petrolium Oil Alliance, Inc. announces changes in management within Petrolium Oil Alliance as well as removal of several members of management and the board members from its wholly owned subsidiary PetrOil Inc. formerly CybeRecord, Inc. (PINKSHEETS: [ CYRD ]). In order to aggressively pursue the company's business model the Majority Shareholder of Petrolium Oil Alliance, Inc. has accepted the resignation of President Wadah Richad Kilani, and Executive V. P. - Middle East and African Development: Mohammad Rashad Zeid. The President's corporate responsibilities will be assumed by the office of the International Director/CEO. To aggressively pursue the company's strategic expansion strategy Mr. Jean-Jacques Monnet is assuming the position of the African Development and two new executive positions have been created; Mr. Richard Brundle as head of Merger and Acquisitions, and Mr. Ramón Girardé as head of Oil and Gas Exploration.

Additionally, the majority shareholder has removed from its wholly owned subsidiary PetrOil Inc. formerly CybeRecord, Inc. (PINKSHEETS: [ CYRD ]) President Munther Daher, Secretary Ibrahim Gad, and Director Jamal Alassaf, the other board members remain unchanged. Director Alfred Victor Brewster has been appointed to the position of President, and Marcel Diab has assumed the position Secretary and Director. The company re iterates the management change will have no effect on the capital structure of the company. No additional shares will be issued and there will be no reverse splits.

Petrolium Oil Alliance, Inc. is an IBC with representation offices in Riyadh, Dubai, Doha, Hong Kong, Moscow, St Petersburg, Rotterdam, and Cyprus specializing in oil distribution and other related petroleum, gas and energy industries.

The above news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of business risks, external factors and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.