Stream Announces CFO Resignation & Management Appointments
CALGARY, Oct. 7, 2013 /CNW/ - Stream Oil & Gas Ltd. (TSX-V: SKO) ("Stream" or the "Company") announces that James Hodgson has resigned as Chief Financial Officer of the Company effective September 30, 2013 to pursue other interests. With his resignation, he has also stepped down as a Director on the Board of Directors and as Corporate Secretary. During his tenure, Mr. Hodgson was successful in arranging over US$40 million in financing, which permitted Stream to invest in its development plans to increase production.
"I would like to sincerely thank Jim for his contribution to Stream," said Dr. Sotirios Kapotas, President and Chief Executive Officer. "His financial acumen and leadership were instrumental in the Company's financial development and improvement of our financial systems over the last few years. On behalf of the Board and Stream, I wish Jim the very best in his future endeavours."
Mr. Paul Plater, Vice President, Finance and Corporate Controller, has been appointed as interim Chief Financial Officer of Stream. Mr. Plater has held his role as VP, Finance and Corporate Controller since January 2013 and has consulted to Stream through Plater Financial Consulting Ltd. since 2009. He has had experience consulting in a CFO capacity to other Calgary and Vancouver-based public companies in the energy and investment sectors since 2006. His career encompasses working at both Ernst and Young and Deloitte and Touche (where he was lastly a Senior Manager in the Deloitte Mining Group), being CFO of a Vancouver-based retail chain, and a position at the BC Securities Commission. Mr. Plater holds C.A. and C.P.A. (Illinois) designations.
Ms. Susan Soprovich has been appointed as interim Corporate Secretary for the Company. She is the Principal of Phoenix Strategies, which provides strategic counsel to companies in both the public and private sectors. In her career, Ms. Soprovich held senior roles encompassing finance, investor/public relations and corporate governance for companies of varying market capitalizations both within and outside of the petroleum industry. Previously, she held senior executive positions at Compton Petroleum Corporation and at Bankers Petroleum Ltd. where she was responsible for the strategic direction of those companies' international investor and public relations, communications and regulatory activities. In addition, she has managed several corporate transactions including restructuring, refinancing, corporate splits, and mergers and acquisitions. Ms. Soprovich holds a C.M.A. designation.
About Stream Oil & Gas Ltd.
Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and exploration company focused on the re-activation and re-development of three oilfields and a gas/condensate field in Albania. The Company's strategy is to use proven technology, incremental and enhanced oil recovery techniques to significantly increase production and reserves.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Stream Oil & Gas Ltd.For further information:
Dr. Sotirios Kapotas President & Chief Executive Officer P: (403) 531-2358
Paul Plater, Interim CFO P: (403) 531-2358