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Tampa Bay-Lakeland
Business Observer Tuesday, Jan. 18, 2011 10 years ago

Proper makes moves for growth

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The Tampa firm has a new president and a new development partner.

TAMPA — Proper Power & Energy Inc. (symbol: PPWE) has a new president in place, and will work with a new partner in 2011 to develop its energy assets.

Andrew Kacic has been named Proper's newest president, a release said. Kacic is the former president and founder of American Resources of Delaware Inc., a company whose assets grew from $220,000 to more than $40 million over four years. Kacic replaces Joseph Abdo, who will remain with the company as CEO and chairman of the board.

Proper also announced that it has entered into a “strategic alliance” with Mayo Energy Partners to develop the company's assets in Utah. The companies hope to drill a new exploratory well in Utah in the third quarter of this year.

Proper Power & Energy Inc. is an energy exploration and production company. It owns energy assets in Kentucky and Utah, and its corporate headquarters are in Tampa.

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