CALGARY, Aug. 12, 2014 /CNW/ - PetroNova
Inc. ("PetroNova" or the "Company") (TSX-V: PNA),
a company engaged in the exploration and development of oil and
natural gas resources in Colombia,
today announced that at the recommendation A.V. Securities Inc.,
the finder of PetroNova's previously announced $8 million private placement, it has appointed
Marcel Apeloig to serve as a Director of the Company.
"PetroNova welcomes Mr. Apeloig to its Board of Directors," said
Antonio Vincentelli, President and
Chief Executive Officer of PetroNova. "Mr. Apeloig's experience as
a Director of a TSX-listed Colombian oil and gas company (Suroco
Energy Inc.), combined with his experience in corporate finance and
capital markets, will be an asset to PetroNova as we continue to
progress our exploration and development program in the Llanos and
Caguan-Putumayo Basins."
Mr. Apeloig is Partner, Director and President of Activalores
Casa de Bolsa, a Caracas-based
brokerage firm, overseeing corporate finance, financial advisory
services and securities distribution. Prior to joining Activalores,
Mr. Apeloig held progressive positions in credit and relationship
management at Citibank, leading to his role as Vice-President and
Director of the Local Corporate Group, where he reported to the
Country Corporate Officer and served as a member of the Executive
Committee.
Mr. Apeloig has served as President of the Asociación Venezolana
de Casas De Bolsa (Venezuelan Association of Brokerage Houses) and
a member of the board of directors of several companies including
Suroco Energy Inc., Asociación Venezolana de Ejecutivos de Finanzas
(Venezuelan Association of Executives in Finance) and Bolsa de
Valores de Caracas (Caracas Stock
Exchange). He graduated Simón Bolívar University's Electrical
Engineering program cum laude, and received a Master of
Science degree in Industrial Engineering from Stanford
University.
About PetroNova:
The Company, through its subsidiaries, is engaged in the
exploration for, and the acquisition and development of, oil and
natural gas resources in South
America, specifically in Colombia. The Company's assets currently
include the Company's interests in the PUT-2 and Tinigua Blocks
located in the Caguan-Putumayo Basin in Colombia, both of which are operated by the
Company, and the non-operated Llanos Blocks located in the Llanos
Basin in Colombia. The common
shares of the Company trade on the TSX Venture Exchange under the
stock symbol "PNA".
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.
Caution Regarding Forward-Looking Statements and
Information:
Certain statements and information contained in this press
release constitute forward-looking statements and information
(collectively "forward-looking statements") within the
meaning of applicable securities laws. These statements relate to
future events or the Company's future performance. All statements
other than statements of historical fact are forward-looking
statements. The use of any of the words "anticipate", "intend",
"plan", "continue", "estimate", "budget", "targeting", "project",
"expect", "may", "will", "might", "should", "could", "believe",
"predict" and "potential" and similar expressions are intended to
identify forward-looking statements. Such statements represent the
Company's internal projections, estimates, expectations, beliefs,
plans, objectives, assumptions, intentions or statements about
future events or performance. These statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements. Management believes
the expectations reflected in these forward-looking statements are
reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements
included in this press release should not be unduly relied
upon.
With respect to forward-looking statements contained in this
press release, assumptions have been made regarding, among other
things: general economic, market and business conditions in
Colombia and globally; future
crude oil and natural gas prices; the continued availability of
capital, undeveloped lands and skilled personnel; the ability to
obtain equipment in a timely manner to carry out exploration and
development activities; the regulatory framework governing
royalties, taxes and environmental matters in Colombia and any other jurisdictions in which
the Company may conduct its business in the future; the ability of
the Company to obtain the necessary approvals, permits and licences
to conduct its operations; the applicability of technologies for
recovery and production of the Company's oil and natural gas
resources and reserves; the recoverability of the Company's oil and
gas resources and reserves; future capital and exploration
expenditures to be made by the Company; future sources of funding
for the Company's exploration program; the geography of the areas
in which the Company is exploring; and adequate weather and
environmental conditions.
Actual results could differ materially from those anticipated in
these forward-looking statements as a result of certain risk
factors, including, but not limited to: general economic, market
and business conditions; risks related to the exploration,
development and production of oil and natural gas; risks inherent
in the Company's international operations, including security and
legal risks in Colombia; risks
related to the timing of completion of the Company's projects;
competition for, among other things, capital, the acquisition of
resources and skilled personnel; actions by governmental
authorities, including changes in government regulation and
taxation; the failure of the Company to obtain the necessary
approvals, permits and licences to conduct its operations;
environmental risks and hazards; the availability of capital on
acceptable terms; the failure of the Company or the holder of
certain licenses or leases to meet specific requirements of such
licenses or leases; adverse claims made in respect of the Company's
properties or assets; failure to engage or retain key personnel;
geological, technical, drilling and processing problems, including
the availability of equipment and access to properties; failure by
counterparties to make payments or perform their operational or
other obligations to the Company in compliance with the terms of
contractual arrangements between the Company and such
counterparties; and the other factors discussed under the heading
"Risk Factors" in the Annual Information Form and the
Company's other continuous disclosure documents filed from time to
time with applicable securities regulatory authorities in
Canada and which may be accessed
on PetroNova's SEDAR profile at www.sedar.com.
Readers are cautioned that the foregoing lists of factors are
not exhaustive. The forward-looking statements included in this
press release are expressly qualified by this cautionary statement
and are made as of the date of this press release. The Company does
not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
SOURCE PetroNova Inc.