Standard Exploration Ltd. Announces Results of Annual General and Special Meeting
July 04 2013 - 7:45AM
Marketwired
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:
----------------------------------------------------------------------------
Nominee Votes For % For Votes Withheld % Withheld
----------------------------------------------------------------------------
Ronald Wiebe 15,677,210 43.68% 20,214,747 56.32%
----------------------------------------------------------------------------
Robert Mason 16,347,510 45.55% 19,544,447 54.45%
----------------------------------------------------------------------------
Patrick Powell 19,981,210 55.53% 16,000,747 44.47%
----------------------------------------------------------------------------
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.
Contacts: Standard Exploration Ltd. Tom MacKay Chief Executive
Officer (403) 262-4450 www.standardexploration.com