Metawells Oil & Gas Appoints New Board President and Finalizes South Plains Petroleum Acquisition

Metawells Oil & Gas Inc. has announced two major corporate developments with the appointment of Stefanos Kalogirou as President of the Board of Directors and the finalization of its acquisition agreement with South Plains Petroleum Inc. These developments represent significant milestones for the development-stage energy company as it positions itself for expanded operations and strategic growth in the competitive energy sector.

The leadership transition became effective November 1, 2025, with Kalogirou succeeding Ronald Minsky, who resigned from the position but will continue serving the company as a senior advisor and consultant. Kalogirou brings over twenty years of experience in project management and strategic planning to his new role, with a demonstrated track record of leading large-scale projects. His educational background includes a degree from Baruch College, City University of New York, providing him with strong foundational knowledge for corporate leadership.

Kalogirou expressed his perspective on the appointment, stating his honor in joining the Board of Directors at what he described as a pivotal time for the company. He emphasized his commitment to advancing Metawells' strategic roadmap and supporting the company's growth through disciplined execution and pursuit of new opportunities. This leadership change comes at a critical juncture as the company navigates significant corporate transitions and expansion initiatives.

Concurrent with the leadership announcement, Metawells confirmed the completion of its acquisition agreement with South Plains Petroleum Inc. following several months of negotiations and due diligence processes. The acquisition represents a strategic move that substantially enhances Metawells' asset base and operational potential. South Plains Petroleum maintains multiple properties in strategically important energy regions, including holdings in the Eastern Permian Basin of Texas and onshore Louisiana near the Gulf Coast. These assets include significant proven oil and gas reserves that are positioned for development, providing Metawells with immediate opportunities for operational expansion and revenue generation.

The importance of this acquisition extends beyond mere asset accumulation. Kalogirou characterized the transaction as a transformative step for Metawells, noting that the integration of South Plains' assets will strengthen the company's portfolio and accelerate its path toward operational expansion. The Eastern Permian Basin represents one of the most productive oil and gas regions in the United States, while the Louisiana Gulf Coast properties offer additional strategic advantages for energy development and distribution. The combination of these assets with Metawells' existing operations creates a more diversified and potentially more resilient energy company positioned across multiple key energy markets.

These corporate developments signal Metawells' commitment to executing its growth strategy through both leadership expertise and strategic asset acquisition. The company has indicated that further updates regarding leadership initiatives and the South Plains integration will be provided in subsequent announcements as the integration process progresses and new operational plans are implemented. The successful completion of these significant corporate actions demonstrates Metawells' ability to navigate complex business transactions while maintaining focus on long-term strategic objectives in the competitive energy sector.