/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY, Aug. 27 /CNW/ - Suroco Energy Inc. (TSX Venture Exchange: SRN)
(the "Corporation") is pleased to announce that at its annual and special
meeting of shareholders held today, three new directors were appointed to the
Board of Directors of the Corporation, subject to the approval of the TSX
Venture Exchange, those directors being Daryl Gilbert, Dennis Balderston and
Mr. Gilbert has over 30 years of varied experience in the oil and gas
industry. From 1979 until his retirement in 2005, Mr. Gilbert was with Gilbert
Laustsen Jung Associates Ltd. (also known as "GLJ", the largest independent
petroleum engineering firm in Canada). He was appointed President and Chief
Executive Officer of GLJ in 1994 after serving as a principal officer from
1988 to 1994. Prior to that Mr. Gilbert served in several positions with the
Alberta Energy Resources Conservation Board.
Mr Gilbert is currently Managing Director and an Investment Committee
Member of JOG Capital Inc., a provider of equity to junior Canadian oil and
gas companies and is a director of several energy related public and private
companies, including Falcon Oil and Gas, AltaGas Income Trust, Penn West
Energy Trust, Canetic Resources Trust, Crocotta Energy Inc., Kereco Energy
Ltd., MGM Energy Corp., Nextar Energy Ltd., Spry Energy Ltd., Seaview Energy
Inc., and Qwest Energy Investment Management Corp. He is also a Director of
Global Direct Inc. and Zed-I Solutions Inc., technology related public
Mr Gilbert holds a B.S. from the University of Manitoba in Civil
Engineering and is a member of the Association of Professional Engineers,
Geologists and Geophysicists of Alberta, the Canadian Institute of Mining and
Metallurgy and the Society of Petroleum Evaluation Engineers.
Robert R. Hobbs
Mr. Hobbs has over 40 years of related experience in the oil and gas
production, exploration and drilling service businesses. Over 30 years of this
experience is related to operations, finance, and management functions in
connection with international operations.
Mr. Hobbs is currently the President of R.R. Hobbs Financial Consultants
Ltd., and has been in this position for over 30 years. He was a director of
Niko Resources Ltd. from 1996 until 2008, a company with extensive operations,
but not limited to, India and Bangladesh. He is also a former director of:
Peregrine Oil and Gas Ltd., Plexus Energy Ltd., Surge Petroleum Ltd., Innova
Energy Ltd., Invader Exploration Ltd., and Danoil Energy Ltd., a predecessor
company of Canetic Resources Trust.
Mr. Hobbs completed his accounting designation in 1969 and has completed
two years of post graduate studies at the University of Calgary in computer
sciences. He is a former director and is a current member of the Association
of Management Accountants of Alberta.
Mr. Balderston is a Chartered Accountant and independent businessman with
over 38 years of public accounting experience specializing in public and
private energy sector companies. Previously, Mr. Balderston was a partner with
Ernst & Young LLP from 1990 to 2005. He is currently a director of Ember
Resources Inc. and VGS Seismic Canada Inc.
Concurrent with these appointments to the Board, Jeffrey Scott, Verne
Johnson and Fernando Puig have resigned from the Board. The Management and
Directors of the Corporation would like to express their sincere appreciation
to all three of the retiring Directors for their advice and counsel through
different stages of the Corporation's formation and growth. Under their
guidance the Corporation has established itself as a Colombia focused
exploration and production company with a foundation of production and strong
With these appointments and resignations, there are now seven individuals
on the Board of Directors of the Corporation, those individuals being Harry
Dobson, Brian Hinchcliffe, Alastair Hill, Juan Szabo, Robert Hobbs, Dennis
Balderston and Daryl Gilbert.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Travis Doupe, VP Finance and Chief Financial
Officer of the Corporation, or visit our website at www.suroco.com. Telephone:
(403) 232-6784, Facsimile: (403) 264-7455