SLV TSX Venture
CALGARY, Feb. 4 /CNW/ - Stealth Ventures Ltd. ("Stealth" or the
"Company") [TSX.V: SLV] is pleased to announce that Mr. Subra
Subramaniam is assuming the position of Executive Chairman and Chief
Executive Officer effective immediately. Mr. Subramaniam joined the
board in January 2010 and has been the Executive Chairman and Managing
Director since June 2010. He has been instrumental in the
transformation of the Company from a Canadian domestic player, into the
International arena, specifically India and South East Asia. He has
spear-headed the efforts of the Company to leverage the Companies
strengths in the unconventional hydrocarbon resource development into
the International market, with the continued movement of Stealth into
Mr. Subramaniam is a successful and well established business executive
and entrepreneur specialized in international business in the oil and
gas industry with a market focus on Asia and with specific expertise on
India. His wide industry expertise ranges from strategic planning,
establishment of strategic partnerships/joint ventures, business
development, government relations, operations management and general
management, with proven experience and expertise in the upstream oil
and gas business. He is also well-versed with the nuances of the
mid-stream and down-stream activities of the oil industry. Mr.
Subramaniam has a proven track record of having established and managed
successfully various start-up operations, and in identifying and
implementing growth oriented projects and activities, and is a welcome
leader to Stealth's efforts in the International marketplace.
Mr. Subramaniam is a Commerce Graduate with Honors from the University
of Delhi in India and has over 26 years' experience in the Indian oil
and gas marketplace.
Mr. Subramaniam started his career with Griffin Alexander Drilling
Company (GADC), of Houston, Texas, USA during the start-up of its India
operations. He aided in strategic bidding to solidify long-term
offshore drilling contracts and was instrumental in forming an alliance
and establishing a joint venture for GADC in India, which today is the
largest drilling company in India, which trades on the Mumbai Stock
Exchange as Aban Offshore.
Mr. Subramaniam later secured contracts through bids and brought in 2
onshore drilling rigs for HEG Limited, of Delhi, India, and managed the
complete start-up operations for the Oil Division of that company.
Mr. Subramaniam later joined Lloyds Steel Industries Ltd., of Bombay,
India. He secured 2 drilling contracts with the National Oil Company in
India, for an onshore and an offshore drilling rig, for Lloyds Steel.
His mandate in the Company was for managing the complete start-up
operations for its newly established Oil & Gas Division.
Later in his career he moved to the E&P side where he negotiated,
finalized and established a Production Sharing Contract (PSC) with the
Government of India for a producing oil and gas field for Command
Petroleum Holdings NL (Command), of Sydney, Australia, which was the
first PSC ever signed by the Government of India with a Foreign Entity
for proven oil and gas fields in India. As part of the management team
for Command, he was one of the leads in completing a USD 250 million
oil field development program in India, within budget and ahead of
Command was later merged with Cairn Energy PLC (Cairn), of Edinburgh,
Scotland, UK where Mr. Subramaniam bid, negotiated and secured 8 PSCs
with the Government of India for oil and gas exploration in India. He
was one of the persons in senior management during multiple oil and gas
discoveries by Cairn in India and Bangladesh, and in the operations and
development of these discoveries, over a period of 8 years.
Following Cairn, Mr. Subramaniam was the lead person in negotiating,
securing and establishing 2 PSCs with the Government of India, for
Canoro Resources Ltd (Canoro), of Calgary, Canada. As the Country
Manager and as part of the Canoro team, he was instrumental in
negotiating and procuring additional participating interests to
consolidate and increase Canoro's oil and gas acreage in India.
Mr. Subramaniam then concentrated his efforts on entrepreneurial
endeavours and established and ran his privately owned company, where
he was a key person of a team that negotiated a Government to
Government alliance between the Government of Alberta and the
Government of India, through The Alberta Research Council, of Calgary,
Canada for the establishment of a Data Repository and the formulation
of a policy for continuous rounds of bidding for oil and gas acreage in
India. He later negotiated and secured a multimillion dollar contract
for MEG Worley, of Calgary, Canada for a FEED study for the largest
onshore oil and gas discovery in India, in addition to negotiating and
finalizing 4 Joint Venture projects for the bidding for acreages
offered by the Government of India for Pan Orient Energy Corp., of
Mr. Subramaniam's proven track record will aid Stealth in the
development of its technology, expertise and experience in the
international marketplace, and more specifically within India and S. E.
Asia, for conventional and unconventional Gas and tight reservoir
exploration and development.
Stealth is also pleased to announce the appointment of Mr. Sam Charanek
as Advisor to the Board of Directors. Mr. Charanek, will be a valuable
add in assisting the company with his experience and successful track
record in the international Oil and Gas sector.
Mr. Charanek brings over 12 years of experience in Corporate Finance and
Planning and has been instrumental in the creation of several companies
including, Pan Orient Energy, Canacol, Petrodorado, Excelsior Energy,
Sagres Energy and Mena Hydrocarbons, to name a few.
Mr. Subramaniam, on his role as CEO commented "I am delighted to
spearhead the efforts of the Company into making it a successful and
dominant international player, as we continue to focus our efforts in
India and S. E. Asia by implementing Stealth's ambitious growth plans,
by way of conventional and unconventional oil & gas exploration and
production. We are at the threshold of identifying specific project
opportunities and acquisitions, by way of strategic arrangements, to
add value to the existing projects, by applying proven techniques for
identifying and recovering hydrocarbons from unconventional geological
We plan to fast-track these ongoing efforts in India and other
jurisdictions of S. E. Asia, where we have historical expertise and
Mr. Derek Krivak has submitted his resignation as the President & CEO
and from the Board of Directors. The Board appreciates the excellent
and arduous service rendered by Mr. Krivak over the last 5 years, from
being the head of operations to being the CEO of the Company. He will
continue his association with the Company as an Adviser and may be
called upon for assistance from time to time. The Board wishes Mr.
Krivak with the very best of everything and continued successes in his
Stealth Ventures Ltd. is a Calgary-based junior oil and gas company
whose expertise and focus is on "unconventional" gas reserves from
shale gas, CBM, and tight gas sand reservoirs.
We seek Safe Harbor.
STEALTH VENTURES LTD.
Per: ROGER HARMAN
Chief financial Officer
Forward Looking Statements:
This News Release may contain forward-looking statements based on
assumptions and judgments of management regarding future events or
results that may prove to be inaccurate as a result of exploration and
other risk factors beyond its control, and actual results may differ
materially from the expected results.
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(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
RELEASE. THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION.
ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
SOURCE Stealth Ventures Ltd.
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