Metawells Oil & Gas Announces New President and Acquisition of South Plains Petroleum

Metawells Oil & Gas Inc. has announced two major corporate developments that signal a strategic shift for the development-stage energy company. The appointment of Stefanos Kalogirou as President of the Board of Directors and the finalization of the acquisition agreement with South Plains Petroleum Inc. represent significant milestones in the company's growth trajectory. Kalogirou brings over twenty years of experience in project management and strategic planning to his new role, succeeding Ronald Minsky who will continue serving as a senior advisor and consultant.

The leadership transition coincides with the completion of the South Plains Petroleum acquisition, which followed several months of negotiations and due diligence. This acquisition provides Metawells with access to multiple properties in the Eastern Permian Basin of Texas and onshore Louisiana near the Gulf Coast, areas known for significant proven oil and gas reserves ready for development. The integration of these assets through the acquisition agreement with South Plains Petroleum Inc. (https://www.southplainspetroleuminc.com) is expected to substantially strengthen Metawells' portfolio and accelerate the company's operational expansion plans.

Kalogirou expressed enthusiasm about both developments, stating his honor in joining the board at what he described as a pivotal time for the company. He emphasized his commitment to advancing Metawells' strategic roadmap through disciplined execution and pursuit of new opportunities. The new president highlighted the transformative nature of the South Plains acquisition, noting that the integration of these assets would play a crucial role in the company's growth strategy. The combination of new leadership and expanded asset base positions Metawells for potential operational scale-up in key energy-producing regions.

The Eastern Permian Basin properties acquired through the South Plains transaction represent particularly valuable assets given the region's established infrastructure and production history. Similarly, the Louisiana Gulf Coast locations offer strategic positioning in another significant energy-producing area. These acquisitions through the finalized agreement with South Plains Petroleum Inc. (https://www.southplainspetroleuminc.com) provide Metawells with immediate access to proven reserves, potentially shortening the timeline from development to production. The company has indicated that further updates regarding leadership initiatives and the South Plains integration will be provided in subsequent announcements as these strategic developments unfold.