Oronova Energy Announces Executive Management Changes

CALGARY, June 9, 2017 /CNW/ - Oronova Energy Inc. ("Oronova" or the "Company") (TSX.V: ONV), a company focused on oil and gas exploration and production in Latin America, would like to announce the following changes to its Executive Management Team. 

Alan Aitchison appointed as Chief Operating Officer
Alan Aitchison has been appointed as the Company's Chief Operating Officer. Mr. Aitchison will be a member of the Company's executive leadership team and have overall responsibility for the operations of Oronova. Mr. Aitchison will be based in Guatemala City. Duncan Nightingale, the former Chief Operating Officer has for personal reasons, resigned from the Company.

Mr. Aitchison is a professional engineer with over 31 years of experience working internationally in the oil and gas industry. He has held executive, managerial and technical positions in companies and projects throughout Latin America. Most recently Alan was COO of PetroGranada, an E&P company with private equity backing from Barclays Natural Resource Investments with operations in Colombia. Prior to that, Alan was VP with Schlumberger responsible for production projects around the world ensuring technology and process application to maximize client value. His previous experience was as a Petroleum Engineer with Petrobras, Lasmo and BP in Latin America, the North Sea and North Africa. Alan has a B.SC in Chemical Engineering from Loughborough University, UK.

Scott Neate appointed as VP Finance
Scott Neate has been appointed as VP Finance. Mr. Neate has 12 years of experience in accounting, auditing, tax structuring, and corporate finance.  Most recently Scott was with a private equity firm where he was instrumental in completing multiple corporate acquisitions.  Prior to that, he was Controller with Petroamerica Oil Corp, a publicly traded E&P company where he managed multiple aspects of the finance department.  His previous experience includes seven years with PwC in Canada and the UK, working predominantly with E&P companies.  Scott is a Chartered Professional Accountant and a CFA® Charterholder.

Travis Doupe, the CFO and VP Finance has tendered his resignation and the Company is currently undertaking an executive search for a replacement CFO.

Raj Patel appointed as VP Marketing and Risk Management
Raj Patel has been appointed as VP of Marketing and Risk Management.  Raj is a Professional Engineer with a more than 30-year proven track record in crude oil, hydrocarbon liquids and natural gas marketing in Asia, Europe, Latin America and North America. He also has experience in commodity hedging, process engineering and hydrocarbon facility project management.

Ralph Gillcrist, President & CEO commented, "the addition of Alan, Raj and Scott not only strengthens our team considerably, but also addresses the two key issues of in-country project execution, and developing and capturing the markets for natural gas and refined liquid products. I am extremely pleased that we have managed to attract to our team senior executives with such exemplary track records."

The Oronova management team would like to thank the departing officers, Duncan and Travis, for their prior contribution.

On behalf of the Board of Oronova Energy Inc.

"Ralph Gillcrist"

President & CEO

About Oronova Energy Inc.
Oronova Energy Inc. is an international oil and gas exploration and production company currently focused on the development of the Ocultun Field in Guatemala which is expected to provide a strong platform for low-risk growth and value creation for shareholders. Oronova's strategy is to build a portfolio of early producing assets, that under a low cost operating approach, with associated exploration upside, will allow Oronova to create significant near-term and medium-term growth, whilst becoming a Central and South American low cost oil and gas producer, that operates to international EH&S and CSR standards and highest standards of corporate governance and ethical standards.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Oronova Energy Inc.

For further information: For investor and media inquiries please contact: Ralph Gillcrist - President and CEO, Oronova Energy Inc., Tel: +1 (403) 909 9258, Email: ralph.gillcrist@oronovaenergy.com; Scott Neate - VP Finance, Oronova Energy Inc., Tel: +1 (403) 680-7673, Email: scott.neate@oronovaenergy.com


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