Archer Petroleum Appoints New CFO and Grants Stock Options
Vancouver, British Columbia, CANADA (October 27, 2010) –
Archer Petroleum Corp (TSX.V-ARK, OTCQX:APEUF, DB Frankfurt: A6VA), (the “Company”) wishes to announce that the Company has granted stock options pursuant to its Stock Option Plan to purchase up to 354,000 shares of the Company at $0.20 per share for a period of five years.
The Company would also like to announce that Mr. Robert McMorran, CA, has been appointed as the Chief Financial Officer of the Company in place of Darren Tindale, who has resigned. Management would like to thank Mr. Tindale for his contributions to the Company.
About Archer Petroleum:Archer Petroleum Corp. is an independent oil and gas company focused on exploration and development in North America. Archer’s assets include properties in the Western Canadian Sedimentary Basin of Alberta, the Permian Basin of West Texas, and the Bakken Shale of North Dakota. The Company’s shares are listed on the TSX Venture Exchange under the symbol “ARK” and the OTCQX under the symbol “APEUF” and the DB Frankfurt exchange under “A6VA”. Further information on Archer can be found on the company's website at www.archerpetroleum.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
ON BEHALF OF ARCHER PETROLEUM CORP.
"Colin Bowkett"
President
For further information contact:
Colin Bowkett
President
Archer Petroleum Corp.
Tel: (604) 683 - 7588
Fax: (604) 683 - 7589
info@archerpetroleum.com
www.archerpetroleum.com
or
Ali Sinawi
Tribeca Capital Partners Inc
1-866-944-8674
ali@tribecacap.com
http://www.tribecacap.com
Although Archer believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Archer can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), and commodity price, interest rate and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Archer undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.