Northern Explorations Ltd., Scottsdale, Ariz., (OTCBB: NXPN) has named Mark Schaftlein president and chief executive. He was CEO of financial consulting and advisory firm Capital Consulting Inc.
Schaftlein says, "I am extremely pleased to be undertaking the role of president and CEO of Norex at this time and believe the company’s portfolio of high quality prospects, especially in California, have the potential to bring to production commercially viable 2-million to 3-million-cubic-feet-per-day gas wells that could create for Norex a positive cash flow position before the end of the third quarter of 2009.”
Norex has oil and gas operations in California and Alberta.