TORONTO, July 12 /CNW/ - Alange Energy Corp. (TSXV: ALE) is pleased to announce the appointment of Mr. Boris Abad Guerra to the Company's board of directors, effective immediately.
Mr. Abad has been in the oil and gas business for over 33 years. He is presently the Executive President of Oil and Gas Project Evaluation and Development at Amazonas Petroleum & Environmental Corporation (AMAPEC). He is also writing a book, in Spanish, entitled "Evaluation, Development and Operation of Oil & Gas Fields".
"Alange is essentially, and shall be, in the foreseeable future, an upstream company. Boris is a well-known and respected executive in the petroleum industry and for many years, has been active in the upstream. It is a blessing to have on the Company's board someone with his depth and understanding of reservoir engineering and production operations," said the Company's Chief Executive Officer, Luis E. Giusti.
Prior to joining AMAPEC, Mr. Abad was a director with the Synergy Group, a conglomerate of companies and businesses based in Sao Paulo, Brazil. Prior to, and during his tenure as director in the Synergy Group, he headed, structured and managed the oil and gas field development and operations in Ecuador, Colombia and Brazil; additionally, during his time with the Synergy Group, Mr. Abad was responsible for the conception, planning, development and construction of the first natural gas vehicle program in Ecuador. Throughout his professional career, Mr. Abad has worked in the United States, Colombia, Venezuela, Norway, the United Kingdom, Japan and Ecuador. In Colombia, he was co-founder and Chief Executive Officer of Meta Petroleum and Transmeta and started the development of the Rubiales field. Mr. Abad is a graduate of Pennsylvania State University where he obtained his Ph.D in Petroleum and Natural Gas Engineering.
Mr. Abad joins the board to replace Mauricio Salgar, who recently resigned; the appointment of Mr. Abad remains subject to regulatory approval.
The board of Alange Energy has also initiated a search to identify additional directors to enhance its efficacy and broaden its membership. No timetable has been set for completing this search process and the Company will report any additional appointments when and if they are determined.
Alange Energy is a Canadian-based oil and gas exploration and production company, with working interests in 12 properties in four basins in Colombia. Further information can be obtained by visiting our website at www.alangeenergy.com.
Forward Looking Information
This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements are detailed from time to time in the company's periodic reports filed with the British Columbia Securities Commission and other regulatory authorities. The company has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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 news release.
SOURCE ALANGE ENERGY CORP.
For further information: For further information: Peter Volk, General Counsel & Secretary, 416-360-4653, ext. 223