Standard Exploration Ltd. Announces Results of Annual General and Special Meeting
July 04 2013 - 7:45AM
Marketwired Canada
Standard Exploration Ltd. (the "Corporation") (TSX VENTURE:SDE) announces that
at its annual general and special meeting held on June 20, 2013 (the "Meeting"),
four of the five directors nominated by management to be re-elected as directors
of the Corporation received more "withheld" votes than votes "for." The
directors have agreed to resign from the board of directors of the Corporation
(the "Board"). Detailed voting results for the election of directors at the
Meeting are as follows:
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Nominee Votes For % For Votes Withheld % Withheld
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Ronald Wiebe 15,677,210 43.68% 20,214,747 56.32%
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Robert Mason 16,347,510 45.55% 19,544,447 54.45%
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Patrick Powell 19,981,210 55.53% 16,000,747 44.47%
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Brian Korney 16,342,180 45.53% 19,549,777 54.47%
----------------------------------------------------------------------------
John McGilvary 16,347,510 45.55% 19,544,447 54.45%
----------------------------------------------------------------------------
A new Board has been appointed, consisting of Alan R. Breakey, Tom MacKay, Peter
Sider and Dale Burstall (the "New Board"), who have agreed, subject to
regulatory approval, to act as directors of the Corporation until the next
annual meeting or until a successor has been appointed.
The composition of the New Board is designed to provide a balance between
oversight and assistance to management in meeting corporate growth objectives.
As soon as possible, the New Board plans to add an individual with a C.A.
designation to chair the Audit Committee.
The Corporation also announces that, effective immediately, Tom MacKay has
replaced Ronald Wiebe as President and Chief Executive Officer of the
Corporation and Dale Burstall has replaced Trevor Wong-Chor as Corporate
Secretary of the Corporation. In addition, Alan Breakey has been appointed as
Vice-President Exploration of the Corporation.
All officer appointments are also subject to regulatory approval.
The following are biographies regarding the members of the New Board and newly
appointed officers of the Corporation.
Tom MacKay, P. Eng.
Mr. MacKay is the President and co-founder of Penco Oil and Gas Ltd. ("Penco"),
a private oil and gas company, founded in 2011, with holdings in southern
Alberta. He is a petroleum engineer with 37 years of experience, providing
executive leadership to public and private junior oil and gas companies,
including Chancellor Energy, Forte Resources, Forte Energy, Forte Oil and Gas,
Valiant Energy and Thoroughbred Resources, in the western Canadian oil and gas
industry for the last 22 years. He holds a B.Sc. in Geological Engineering from
Queen's University. In addition to the Corporation and Penco, Mr. MacKay
currently serves on the boards of directors of two other Canadian private oil
and gas companies and a private U.S. based oil and gas company.
Alan R. Breakey, P.Geol.
Mr. Breakey is the Vice-President, Exploration and co-founder of Penco. He is a
petroleum geologist with nearly 40 years of experience in the industry. Prior to
the Penco start-up in 2011, Mr. Breakey co-founded a number of private junior
oil and gas companies over the past 15 years. He is also the Managing Director
of Moose Mountain Resources Inc., a private consulting company providing
geological evaluations for projects in Western Canada, Argentina, Papua New
Guinea and Pakistan. From 2000 to 2004, Mr. Breakey was the Vice-President,
Exploration and co-founder of Resolution Resources Ltd., and from 1991 to 1993,
Mr. Breakey was the Exploration Manager of Chancellor Energy Ltd., both Toronto
Stock Exchange ("TSX") listed companies. He holds a M.Sc. in Geological Sciences
from McGill University and a B.Sc. in Geological Sciences: from Queen's
University.
Peter Sider, P.Eng.
Mr. Sider has been Vice President of Operations, Engineering & Business
Development at Petromas Energy Inc. since May 27, 2013. Mr. Sider has more than
30 years of domestic and international oil and gas experience with a strong
background in production operations. He was most recently Vice President,
European Operations with Vermillion Energy Inc., a Calgary-based international
oil and gas producer with assets in Canada, France, the Netherlands, Ireland and
Australia. He joined Vermillion in 2006 and was previously the Managing
Director, Netherlands and Regional Director, Europe. Prior to that, he was a
venture capitalist and consultant involved in the start-up of a number of oil
and gas companies. He holds a B.Sc. in Chemical Engineering from the University
of Calgary.
Dale Burstall, LLB
Mr. Burstall has been a partner at Burstall Winger LLP since 1994. Mr. Burstall
has served as a director and officer of several public companies and is
currently Corporate Secretary of Karnalyte Resources Inc., a TSX listed company
and a director and Corporate Secretary of Marksmen Energy Inc., a TSX Venture
Exchange Inc. listed company. Mr. Burstall received his Bachelor of Commerce
from the University of Calgary in 1982 and his Bachelor of Laws from the
University of British Columbia in 1985. He was admitted to the Alberta Bar in
1986.
About Standard Exploration Ltd.
The Corporation is a Canadian based oil and gas corporation with operations in
Alberta, Canada and is traded on TSX Venture Exchange. The Corporation's public
filings may be found at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
terms is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking information and
statements. All statements included herein, other than statements of historical
fact, are forward-looking information and such information involves various
risks and uncertainties. There can be no assurance that such information will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such information. A description of
assumptions used to develop such forward-looking information and a description
of risk factors that may cause actual results to differ materially from
forward-looking information can be found in the Corporation's disclosure
documents on the SEDAR website at www.sedar.com. The Corporation does not
undertake to update any forward-looking information except in accordance with
applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Standard Exploration Ltd.
Tom MacKay
Chief Executive Officer
(403) 262-4450
www.standardexploration.com
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