Oracle Energy Corp Announces New Executive Chairman
May 27 2014 - 3:12PM
Access Wire
Vancouver, BC / ACCESSWIRE / May
27, 2014 / The Board of Directors of Oracle Energy Corp is pleased
to announce that Mr.
Darrell McKenna has
been named as Executive Chairman of the Corporation. Darrell has
executive E&P experience with Mobil, Schlumberger, Hess and
most recently Kosmos Energy.
Darrell has 34 years of experience in the oil and gas
industry in various engineering and leadership roles. Darrell's
most recent role was Chief Operating Officer of Kosmos Energy,
responsible for the overall success of Kosmos in Ghana and for
creating, planning, implementing, and integrating the strategic
direction of the organization as well as managing Developments,
Production, Strategic Planning, Business Development, HSES,
Technical Operations, and ongoing interface with the BOD
committees.
Before joining Kosmos Energy, Darrell held a number of
senior leadership posts at Hess. As President of Hess Australia he
was responsible for Exploration and Developing of all assets in
Australia. Darrell managed worldwide engineering, drilling &
completion operations in VP positions at Hess and Mobil. He has
extensive experience in production, field development and
redevelopment, production enhancement and optimization in both
onshore and offshore assets. He has spent the majority of his
career in international locations, with an emphasis on African
projects.
Darrell's major projects are; Ubit redevelopment in
Nigeria where production was increased from 30 to 130 thousand
barrels per day, Arun ongoing development in Indonesia, the Ceiba
and the Okume Complex in Equatorial Guinea producing approximately
125 tbd, and most recently the Jubilee and TEN projects in Ghana
where Jubilee produces 110 tbd and the TEN fields are scheduled to
produce 80 tbd in 2016. Darrell holds a B.Sc.(Honors) Petroleum
Engineering from the Montana School of Mineral Science and
Technology, Butte, Montana.
In addition Oracle is pleased to announce the addition
of Mr. Alan Sendzul
to the Oracle Team as Chief Investment Officer.
Alan is a dedicated commodity finance
executive with over 20 years experience providing financial
solutions and analytical services to natural resource and financial
clients throughout Canada, the UK and Africa. Alan has an in depth
knowledge of financing acquisitions and divestitures and business
analyses of metals, minerals and the oil and gas sectors. He has a
strong background in economics of exploration, production and
distribution cycles, financial and technical reporting procedures,
compliance and macroeconomic forecasting. He has been successful in
raising significant finance for African oil and gas transactions.
He is currently the Principal of IGNEUS Advisors Limited and a
former Director of COFII SL. He holds a Bachelor of Commerce
(Honors) in International Economics, Macroeconomics, Resource
Economics from the University of South Africa (UNISA).
Mr. Nasim Tyab has stepped down from the Chairman role and
will remain as Director. Oracle is very grateful for Mr. Tyab's
leadership. In addition to his Board of Directors responsibility
Mr. Tyab will remain actively involved in an advisory
role.
Dr. Robert McTavish has resigned from his position as
Director. Oracle would like to thank Robert for his contributions
to the Company..
Mr. Peter Francis commented that the Oracle Management
Team and Board of Directors now includes six professionals with
very successful on the ground E&P experience in West Africa and
four members with successful Nigerian project finance
experience.
The Board believes that the appointment of Mr. McKenna and
Mr. Sendzul along with the recently announced appointments of Mr.
Peter Francis to CEO and Ambassador Howard Jeter and Mr. Cyril
Odu to the Board of Directors places Oracle in strong
position to participate in Nigerian development and producing asset
acquisitions as well as other West African
opportunities.
About Oracle Energy
Corp.
Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) is an
international oil and gas exploration and development company with near term focus on
development of Nigeria's huge oil and gas resources. Oracle has two
indigenous partners in Nigeria, Bolad Energy and Greenacres Energy
and is well positioned to participate in the current Nigerian
Marginal Field Round and in acquisition of assets in the continuing
International Oil Company asset divestment processes.
For more
information on Oracle Energy visit www.OracleEnergy.com
ON BEHALF OF THE BOARD
"Peter Francis"
Oracle Energy Corp.
The TSX Venture Exchange has
not reviewed and does not accept Responsibility for the adequacy or
accuracy of this release. Forward-looking statements in this
release are made pursuant to the 'safe harbour' provisions of the
Private Securities Litigation Reform act of 1995. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties.
SOURCE: Oracle Energy Corp.
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