Powder River Petroleum International Inc. (OTCBB: PWDR) announced today that Jerry W. Walters will take over the position as Operations Manager. Walters has over 30 years experience in oil and gas. He has a wealth of knowledge in this sector, ranging from research and development to design, management and consulting.

“I am thrilled to have Mr. Walters join the Powder River Petroleum International Inc. team. I believe his experience and expertise in this industry will be an excellent addition to our production and operations team,” stated Powder River Petroleum International Inc. CEO Brian Fox.

Powder River Petroleum International Inc. is actively seeking acquisitions of oil and gas properties and companies operating in these venues in the United States and Canada. The company is also a marketer of crude oil and natural gas. Powder River Petroleum recently purchased a drilling and service company. The company expects an increase

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I had a very interesting meeting with the largest athletic shoe company in the world, Yue Yuen Industrial (0551.HK). The soles of tennis shoes are made from 'synthetic' rubber, a combination of petroleum-based chemicals as well as rubber. Since the cost of oil is soaring, so is the cost of synthetic rubber. That doesn't mean Yue Yuen International is headed for trouble. It does mean that they'll need to improve productivity and/or raise prices to compensate for the raw materials increase. I did have a fascinating discussion with the CEO about the success of their manufacturing plant in Vietnam.