Parex Resources Inc. announced that Mr. Dave Taylor has elected to retire from the Company under its normal course retirement policy, coincident with his 65th birthday, as of the Annual General Meeting of the Company's shareholders in May 2021. Parex announced that Mr. Imad Mohsen will be joining the Company as President with an anticipated start date of February 1, 2021. In 2013, Mr. Mohsen joined Tulip Oil Holding B.V. to explore for and develop oil and gas opportunities in Western Europe. After initially serving as COO, he was appointed CEO in 2015. Subject to completion of notice, immigration and other requirements it is anticipated that Mr. Mohsen will commence relocating to Calgary with his family to assume his duties with Parex in the first quarter of 2021 and will work through a transition period with Mr. Taylor that will extend to the AGM.