Ticker: EW (TSX-V)
VANCOUVER, Sept. 14, 2011 /CNW/ - Mr. David Sidoo, Chairman of East West Petroleum Corp. (EW-V) (the "Company" or "East West") - is pleased to announce that Mr. Barry Chovanetz has joined the
Company as Vice President, Engineering. Mr. Chovanetz brings over 30
years of global engineering, commercial valuation and project
management experience to the Company.
Mr. Chovanetz's career spans a variety of engineering disciplines as an
employee of major petroleum firms and as a consultant, both in North
America and overseas. He began his career in 1978 with Phillips
Petroleum as a reservoir engineer and petrophysicist working on North
Sea, Nigerian, Ivory Coast and U S properties. He consulted for Merit
Energy as a Reservoir and Exploitation engineer for all company
assets. He was responsible for reserve optimization by evaluating
enhanced oil recovery, infill drilling and waterflood potential as well
as acquiring assets in the US, and Canada for both conventional and
nonconventional assets in the Bakken and Barnett Shale.
Mr. Chovanetz's international experience is extensive. He held the
positions of Petroleum Engineer Advisor and acting Manager with Kuwait
Foreign Petroleum & Exploration Company where he was instrumental in
growing the company in South East Asia by obtaining exploration and
production assets in Malaysia, Indonesia, Australia and the
Philippines. As Engineering Manager for Sipetrol, his functional
responsibilities included business development, financial and
operational planning, quality control and the performance of units
operating in Brazil. He also directed acquisition evaluations in the
US of both conventional and nonconventional assets in the Barnett
Shale. Mr. Chovanetz held the position of Staff Reservoir Engineer
and Chief Petroleum Engineer for Triton Energy Corp., overseeing
reservoir engineering, reserves, and project management
responsibilities for the company's major international and domestic
projects including offshore Malaysia, Thailand and onshore Colombia and
Argentina. He was responsible for developing two major discoveries in
Colombia of reserves greater than 2 billion barrels with the joint
venture partners. He also held senior engineering roles at Virginia
Indonesia Company, Tenneco Oil, and Santa Fe Energy.
Most recently, Mr. Chovanetz was employed as an Reservoir Engineering
Advisor at Hess Corporation where he served in diverse petroleum
engineering roles as a Reservoir and Planning Engineer for company's
operated and non-operated assets in Africa, directing annual budgets up
to $200 million for development of major producing offshore properties
in deep water Equatorial Guinea and onshore in Algeria.
Mr. Chovanetz holds a BS and MS degrees in Petroleum Engineering from
the University of Texas and is a registered professional engineer in
the state of Texas.
The Company also announces that Mr. Chovanetz has been granted stock
options to purchase up to 225,000 common shares of the Company at a
price of $0.45 per common share for a period of three years.
Neither the 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 East West Petroleum Corp.
For further information:
David Sidoo, Chairman
telephone: +1 604 685 9316
fax: +1 604 683 1585