CALGARY, June 10 /CNW/ - Richards Oil & Gas Limited (the "Company"), (TSX
Venture: RIX) announces that Mr. James Dowhaniuk will be joining the Company
effective June 10, 2008 as Exploration Manager.
Mr. Dowhaniuk is a Geologist with over 30 years' experience in the oil
and gas industry. He has worked for a number of growth orientated junior
producers with increasing responsibility in technical, supervisory and
management functions focused on play development in Alberta, North East
British Columbia and the United States.
For the past ten years Mr. Dowhaniuk has worked at TransGlobe Energy
Corporation as Manager, Domestic Exploration and was responsible for the
prospecting and development of over 1,400 BOE per day of production (both
conventional oil & gas plus coal bed methane). Mr Dowhaniuk has considerable
experience with the Company's properties and has been instrumental in
increasing production to over 3,000 BOE per day in prior positions.
We look forward to Mr. Dowhaniuk bringing his prospecting and exploration
expertise to the team.
Richards Oil & Gas Limited (www.richardsoilandgas.com) is a Calgary-based
exploration company, involved in the development of crude oil and natural gas,
with an emphasis on the exploitation of coal bed methane ("CBM"). The
Company's strategy is use its significant land base and experience in the
development of CBM projects to capitalize on opportunities that create both
short-term cash flow and long-term value for its shareholders by balancing
higher risk exploitation with lower risk development opportunities and earning
additional land positions where ever possible.
BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: Brad Turner, President & CEO, Richards Oil &
Gas Limited, Tel: (403) 265-8444, E-Mail: email@example.com; Lonn
Bate, CFO, Richards Oil & Gas Limited, Tel: (403) 265-8444, E-Mail: