CALGARY, June 15, 2015 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: MQL) is pleased to announce the appointment of Mr. Glenn Carley as Chairman of the Board of Directors. Mr. Carley has served as a Director on Marquee's Board since December 2011. He also currently serves as Chairman of Painted Pony Petroleum Ltd.
The Company is also pleased to announce the appointment of Mr. James Wilson to the Board of Directors effective immediately, subject to TSX Venture Exchange approval.
Mr. Wilson has also been appointed Chair of Marquee's Audit Committee. He has more than 30 years of financial executive experience in both public and private Canadian junior and intermediate oil and gas companies. He received his Bachelor of Commerce from the University of Calgary in 1976 and holds professional designations from the Institute of Chartered Accountants of Alberta and an ICD.D from Canada's Institute of Corporate Directors. Mr. Wilson currently serves as Director and Audit Committee Chair of Storm Resources Ltd. and has previously served in executive and Director positions for numerous TSX and TSX Venture Exchange oil and gas companies.
Pursuant to the Company's stock option plan, Marquee has issued certain directors and a new employee, in aggregate, 250,000 stock options entitling them to purchase common shares in the capital of the Company. The stock options have an exercise price of $0.83 each and are exercisable for a term of five years. The option grants are subject to the approval of, and the Company fulfilling the requirements of the TSX Venture Exchange.
The Company will commence a six-well horizontal drilling program at Michichi in early July. The program will focus on following up the recently announced 9-16-30-18 W4M well and 14-15-32-17 W4M well in the southern and northern portions of the now ~25 mile long Michichi fairway. All wells are expected to be on production early in the fourth quarter of 2015.
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.
Marquee Energy Ltd. is a Calgary based, junior energy company focused on high rate of return oil development and production. Marquee is committed to growing the company through exploitation of existing opportunities and continued consolidation within its core area at Michichi. The Company's shares are traded on the Toronto Stock Exchange under the trading symbol "MQL.V" and on the OTCQX marketplace under the symbol "MQLXF". An updated presentation and additional information about Marquee may be found on its website www.marquee-energy.com and in its continuous disclosure documents filed with Canadian securities regulators on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
SOURCE Marquee Energy Ltd.
For further information: Richard Thompson, President & Chief Executive Officer, (403) 817-5561, [email protected]; or visit the Company's website at www.marquee-energy.com.