Stealth Ventures Ltd. appoints Subra Subramaniam as Chairman & CEO, and appoints Sam Charanek as Advisor to the Board of Directors

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 these regions.

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 schedule.

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 Calgary, Canada.

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 resource plays.

We plan to fast-track these ongoing efforts in India and other jurisdictions of S. E. Asia, where we have historical expertise and successes."

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 future endeavors.

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.

"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.


SOURCE Stealth Ventures Ltd.

For further information:

Subra Subramaniam
Tel: 403-514-9998
Fax: 403-514-9995

Profil de l'entreprise

Stealth Ventures Ltd.

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