August 5, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Sun River Energy, Inc. (OTCBB: SNRV) said that it has closed on its acquisition of PC Operating Texas, Inc. and leasehold and well bore interests from FTP Oil & Gas LP. In addition, in connection with the closing of the acquisitions, the company has engaged two new executives under three year employment contracts.

Donal R. Schmidt, Jr. will serve as president and chief executive officer and Thimothy S. Wafford as chief operating officer. Schmidt has also been appointed as a director.

According to Sun River, the acquisition includes around 2,148 gross acres (1,610 net acres) in Tom Green County, Texas, which consists of four prospects developed by industry partner Fairchild Petroleum of Midland, Texas.

As part of a management restructuring plan, Jay Leaver has resigned from his position as president of Sun River and Joe Kelloff has resigned as the COO and have been reassigned to senior exploration and senior operational positions managing continued expansion and future operations of the Rocky Mountain Region. As a result of a change in management, the company will relocate its primary office and headquarters to Dallas, Texas and will maintain a regional office in Denver, Colorado.

For the last 11 years, Schmidt has been an independent oil and gas producer. Schmidt is a managing member of FTP Oil and Gas I LLC, the general partner of FTP. FTP is a limited partnership formed for the acquisition of leases in the Permian Basin located in West Texas.

Texas-based Sun River Energy is an oil and gas exploration company focusing its efforts on North America, specifically oil and natural gas in the Rocky Mountain region

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