**Daybreak Oil and Gas Announces Changes in Senior Leadership**

by · The Markets Daily

Daybreak Oil and Gas, Inc. (OTCMKTS:DBRM) recently reported a significant change in its leadership team. In an 8-K filing submitted to the Securities and Exchange Commission (SEC) on November 1, 2024, the company announced the departure of James F. Westmoreland, who served as the President, Chief Executive Officer, Interim Principal Financial Officer, Chairman, and Director of Daybreak Oil and Gas. Westmoreland informed the Board of Directors that he would be retiring from all positions he held within the company, effective at the close of business on November 1, 2024.

Following Westmoreland’s retirement, the Board appointed Bennett Anderson as the new President and Chief Executive Officer, effective from the same date. Anderson, who previously held the position of Chief Operating Officer, has been with the company since 2006 and brings a wealth of experience to his new role. Additionally, he has been elected to the company’s Board of Directors as of November 1, 2024.

Bennett Anderson’s background includes serving as a Vice President at Novell, Inc. and working as a rig hand on drilling projects in North Dakota. He holds a Bachelor of Science degree in Computer Science from Brigham Young University. Despite his new appointment, there will be no changes in Anderson’s annual salary, which is currently set at $100,000. However, due to company policies, employees, including Anderson, are presently being paid at 25% of their original salary with the remaining 75% being accrued.

The filing also noted the retirement of two more Directors, Mr. James F. Meara and Mr. Timothy R. Lindsey, effective November 1, 2024, as well as the decision to reduce the Board’s size to three members. To fill the vacancies left by the departures, the Board elected Mr. Darren Williams to remain as a Director and elected Mr. John B. Linford as a newly appointed Director. Linford, an Attorney based in Bakersfield, CA, has an extensive background in oil and gas law and has been providing legal counsel to Daybreak since 2011.

Daybreak Oil and Gas indicated that there were no transactions to report between the company and its newly appointed Directors since the start of the fiscal year in March 2024.

The changes in leadership signal a significant shift within Daybreak Oil and Gas, with the company working towards ensuring a smooth transition and maintaining stability in its operations and governance.

This article is based on the information provided in the recent 8-K filing by Daybreak Oil and Gas to the SEC on November 1, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Daybreak Oil and Gas’s 8K filing here.

Daybreak Oil and Gas Company Profile

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Daybreak Oil and Gas, Inc engages in the exploration, development, and production of crude oil and natural gas in the United States. It holds 42.5% interests in the East Slopes project located in the southeastern part of the San Joaquin Basin near Bakersfield, California; and 45.3% interests in the Reabold project located in the Monterey and Contra Costa counties, California.

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