LONDON, June 20 /CNW/ - Fox Petroleum Inc. (NASD OTC BB: FXPE) (hereafter
"FOX") has appointed an executive management team consisting of Oil and Gas
and Financial Industry veterans. The Fox Petroleum Team combines for more than
50 years of Industry experience. The management team will direct the Company's
two intended Oil and Gas projects and Fox Petroleum's future oil and gas
Fox Petroleum has signed an agreement to acquire 32,000+ acres of mineral
rights in Alaska's North Slope Region which are estimated to represent a
potential of up to 160 million barrels of oil (LAPP Resources, Inc. report,
April 2007). In the UK's North Sea, Fox has signed an agreement to earn a
33.3% stake in 37,000+ acres which could potentially hold up to 234 million
stock tank barrels(*) of oil (TRACS International Ltd report, April 2007).
Fox Petroleum has appointed the following personnel:
Richard Joseph Moore - C.E.O. & Director
Richard Moore is an Exploration & Production veteran with nearly 30 years
of experience in international Oil and Gas Development. He has been involved
in a wide array of business units including project finance, exploration,
production operations and downstream oil sales. Richard also brings with him a
solid background in corporate strategy, new business development,
international relations, and mergers and acquisitions.
Richard most recently served with Chaparral Resources Inc/KAZ Commertz
Group from 1998 to 2004 as an executive member of the main board responsible
for Finance, Operations and Strategic Planning with oversight in new business
Under Richard's control, Chaparral Resources (previously NASD OTC BB:
CHAR) increased production in Kazakhstan's Karakuduk field from negligible
amounts to over 15,000 barrels of oil per day (bopd), moving into positive
cash flow and profitability. Chaparral Resources was eventually acquired by a
wholly owned subsidiary of LUKOIL Oil Company for approximately $90 million
USD. LUKOIL is one of the world's largest Oil and Gas companies (London Stock
Exchange: LKOD / Market Cap: $144.61 B).
Richard has a firm grasp of the technical aspects required in developing
oil and gas fields with a specialist insight into emerging markets and remote
He is also well versed with the SEC compliance issues pre- and
post-Sarbanes Oxley, as well as being experienced in the various management
and financial functions with regard to shareholder reporting and
"Richard brings a very well rounded foundation to Fox Petroleum with
substantial relevant experience and a demonstrated ability in oil and gas
activities," said Vice President Finance, Alex Craven.
Richard Bullock - Chairman & Director
Richard Bullock specializes in the management of start-up and development
stage ventures as well as investment valuation. His career as an independent
business consultant spans more than 25 years, and includes the administration
of drilling, exploration, and production programs for resource based
Richard's involvement in public company management includes the proper
development and execution of Annual and Quarterly Financial Statements,
Prospectuses, Asset Acquisitions, and Share Issuance. He has managed the
listing and/or regulatory administration of approximately 30 public companies
in his career.
Over the past two decades, Richard has served in executive roles as
director and/or senior officer for a number of private corporations throughout
the United States, Canada and internationally. His experience extends to
acquisition and merger implementation, contract negotiation, and development
Currently, Richard is active in investment consulting, including due
diligence and supervision issues such as legal contracts, shareholder
agreements, and ownership rights.
Alexander J. Craven - Vice President, Finance & Director
Alex Craven draws on his formal training and breadth of experience in the
fields of European banking, finance, public companies, and the oil and gas
During his tenure at registered chartered accountants Mahony, Green and
Co in Nottinghamshire, England, Alex worked with numerous corporate clients
while training in Management Accountancy. His activities included aspects of
limited company formation, bookkeeping, financial reporting, and production of
business year-end accounts.
While at a registered Swiss Financial Intermediary in Geneva, Switzerland
dealing in asset and wealth management, Alex gained experience in the setup,
administration and financing of several junior resource and public companies.
Other responsibilities involved raising capital for various ventures, and
working with a wide network of banks and securities dealers on behalf of both
corporate and private clients.
Alex received oil and gas industry education and training from the
Petroleum Economist, London, whose faculty of seasoned industry experts
represents senior management experience at Shell, BP, Esso, BG, Phillips,
Talisman, Enterprise, and others. Beyond studying the fundamentals of the
industry, Alex focused on quantifying exploration risk; reserves and costs;
and the evaluation of investment opportunities.
Further training in London included studying Petroleum Economics through
Fugro Robertson Limited, one of the world's largest and most reputable oil and
gas consultancies, where special emphasis was given to energy project
assessment, economic modelling, and financial forecasting.
Alex studied Economics at the University of Sheffield, England, and is
currently a candidate for the Institute of Chartered Financial Analysts (CFA).
Shareholders and prospective investors are encouraged to visit Fox
Petroleum's website: www.foxpetro.com and download Fox Petroleum's Investor
Summary. Please feel free to call investor relations toll-free at
1-888-369-4744 to receive a full corporate investor's package
About Fox Petroleum
Fox Petroleum Inc. is an Oil and Gas Exploration company headquartered in
London, England, the financial capital of Europe. Fox has established an
operations office in Anchorage, Alaska. Fox's current projects include the
expected acquisition of 32,000+ acres of mineral rights in Alaska's North
Slope estimated to represent a potential of up to 160 million barrels of oil
(LAPP Resources, Inc.), and an agreement to earn a 33.3% ownership stake in a
37,000+ acre UK North Sea block which could potentially hold up to 234 million
stock tank barrels of oil (TRACS International Ltd). The Company's shares are
publicly traded on the NASD OTC BB under the ticker symbol FXPE.
On behalf of the Board of Directors
FOX PETROLEUM INC.
Alex Craven, VP Finance
NASD OTC BB: FXPE
(*) stock tank barrel: a measure of the volume of treated oil stored in
Legal Notice Regarding Forward-Looking Statements
Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties.
Forward-looking statements are based on current facts and analyses and other
information that are based on forecasts of future results, estimates of
amounts not yet determined and assumptions of management, including, but not
limited to, the Company's belief that we will successfully close the
acquisition of leases for oil and gas properties in Alaska, earn into leases
in the UK, that we can participate in the exploration of those properties, and
that we will maintain our management team. Actual results may differ
materially from those currently anticipated due to a number of factors beyond
the reasonable control of the Company. It is important to note that actual
outcomes and the Company's actual results could differ materially from those
in such forward-looking statements. Factors that could cause actual results to
differ materially include the uncertainty of the requirements demanded by
environmental agencies, the Company's ability to raise financing for
operations, breach by parties with whom we have contracted, inability to
maintain qualified employees or consultants because of compensation or other
issues, competition for equipment, inability to obtain drilling permits,
potential delays or obstacles in drilling operations and interpreting data,
and the likelihood that no commercial quantities of oil or gas are found or
recoverable. Additional information on risks for the Company can be found in
filings on Edgar of other junior oil and gas exploration companies with the US
Securities and Exchange Commission.
For further information:
For further information: Fox Petroleum Inc. Investor Relations Alex
Craven, 1-888-FOX-4744 (1-888-369-4744) VP Finance firstname.lastname@example.org