Surya Oil & Gas Corp. Appoints William T. “Bill” Devereux as Chief Financial Officer and Treasurer to Support Transition into Execution Phase
Surya Oil & Gas Corp. (“Surya” or the “Company”) (OTCID: SURY) has announced the appointment of William T. “Bill” Devereux as Chief Financial Officer and Treasurer, marking a significant step in the Company’s evolution from strategic planning into active execution across its oil and gas portfolio. The appointment comes at a pivotal moment for Surya as it prepares to initiate redevelopment activity on its West Virginia assets in the first quarter of 2026 and positions its wider acreage holdings, including those in Texas, for subsequent phases of development.
The addition of Mr. Devereux to Surya’s executive leadership team reflects the Company’s emphasis on disciplined financial management, capital efficiency, and governance as it advances toward operational deployment. With redevelopment plans moving forward and capital allocation becoming increasingly central to execution, Surya is strengthening its financial leadership to ensure that growth initiatives are supported by rigorous controls, transparent reporting, and a long-term value creation framework.
Mr. Devereux brings more than two decades of experience spanning capital markets, corporate finance, investment strategy, and enterprise governance. Over the course of his career, he has worked with organizations navigating complex growth cycles, including periods of operational scale-up that required careful balancing of capital deployment, cash-flow optimization, and risk management. His background encompasses both principal investing and advisory roles, providing him with a broad and practical perspective on how financial strategy supports operational success.
Notably, Mr. Devereux has deployed approximately $1.5 billion as a principal investor across public markets and special situations, gaining firsthand experience in evaluating opportunities, managing downside risk, and driving returns through disciplined execution. In parallel, he has advised on more than $250 billion in transactions, working across a wide range of industries and deal structures. This combination of investment and advisory experience has given him deep insight into capital structuring, valuation, mergers and acquisitions, and stakeholder engagement.
In addition to his transaction experience, Mr. Devereux has overseen global financial reporting frameworks across multiple regulatory regimes, including SEC, exchange, and GAAP environments. His expertise in governance and compliance will be particularly relevant as Surya scales its operations and aligns its financial reporting and controls with the expectations of public market investors and institutional stakeholders.
As Chief Financial Officer and Treasurer, Mr. Devereux will play a central role in supporting Surya’s capital deployment strategy as redevelopment activities progress across the Company’s West Virginia acreage. This will include overseeing budgeting and financial planning, strengthening internal controls, managing liquidity, and ensuring that capital is allocated efficiently across projects. His leadership is expected to be instrumental in translating Surya’s strategic vision into financially sound execution as the Company moves from planning into active field operations.
Surya’s near-term focus is on the redevelopment of its West Virginia wells, where initial activity is expected to commence in the first quarter of 2026. These efforts represent a key milestone for the Company, as they are designed to unlock value from existing assets through targeted redevelopment and optimization initiatives. At the same time, Surya continues to evaluate and position its broader acreage portfolio, including assets in Texas, for future development phases that can be pursued as operational and market conditions align.
The Company has also been advancing Kubera™-enabled development initiatives as part of its broader operational strategy. These initiatives are intended to enhance decision-making, improve efficiency, and support more data-driven development planning. As these programs are integrated into Surya’s redevelopment efforts, strong financial oversight will be critical to ensuring that technology-enabled initiatives deliver measurable economic benefits and align with the Company’s capital discipline objectives.
Hemal Rathod, Chief Executive Officer of Surya Oil & Gas Corp., emphasized the strategic importance of the appointment, stating that Mr. Devereux’s experience sits squarely at the intersection of disciplined finance, capital structuring, and institutional investment. According to Mr. Rathod, these capabilities make him exceptionally well-suited to support Surya during this next phase of growth, when careful execution and financial stewardship will be essential.
“As we advance redevelopment planning across our West Virginia portfolio and continue to integrate Kubera™-enabled development initiatives, Bill’s vast experience and leadership will help ensure the Company is positioned for sustainable, long-term value creation,” Mr. Rathod said. He added that Surya’s leadership team is focused on building a strong operational and financial foundation that can support growth while maintaining a clear focus on shareholder value.
In conjunction with the announcement of Mr. Devereux’s appointment, Surya also disclosed a change to its board and officer roles. Frank Kristan has stepped down from the Company’s Board of Directors, as well as from his positions as Secretary and Treasurer, effective December 24, 2025. The Company expressed appreciation for Mr. Kristan’s service and contributions during his tenure and noted that the transition aligns with Surya’s broader evolution as it enters a new stage of development.
The leadership changes underscore Surya’s intent to align its governance and management structure with the demands of an execution-focused operating environment. As the Company prepares to deploy capital and commence redevelopment activities, having experienced leadership in place across both operational and financial functions is viewed as critical to managing complexity and maintaining accountability.
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