Directorate Change
May 31 2007 - 3:01AM
UK Regulatory
First Calgary Petroleums Ltd. announces the proposed appointments of
additional Executive and Non-Executive Directors to the Board
CALGARY, May 30 /CNW/ - First Calgary Petroleums Ltd. ("FCP", "First
Calgary" or "the Company") is pleased to announce the nomination of four new
Directors to the Company's Board, including one executive and three
non-executive Directors. The new nominees reflect FCP's progression from a
pure exploration company to an exploration and production company.
The following appointments are subject to shareholder approval at the
Company's Annual Meeting, to be held in Calgary on Wednesday June 20, 2007.
Appointment of Executive Director
Mr. Shane O'Leary, the Company's Chief Operating Officer, has been
proposed to move to an executive position on FCP's Board. Since joining FCP in
January 2006, Mr. O'Leary has been instrumental in securing a gas marketing
agreement and completing the conceptual development planning for FCP's Block
405b in Algeria.
Mr. O'Leary will join Messrs. Richard Anderson, President and CEO, and
John van der Welle, CFO and Finance Director, as executive Directors of the
Company.
Appointment of Non-Executive Directors
First Calgary is honoured to announce the proposed election of three new
non-executive Directors to the Company's Board: Mr. Charles Pitman, Mr. Keith
Henry and Mr. Nick Zana.
Mr. Pitman, 65, has extensive exploration, development and production
experience in the oil and gas industry, including 24 years at Amoco
Corporation and BP plc. During this time he held a number of senior positions
including managing operations in Egypt, Oman, Qatar and the former Soviet
Union. Following Amoco's merger with BP he was Regional President,
Caspian/Middle East/Egypt and India. In 2000, Mr. Pitman was elected to the
Board of NYSE and Nasdaq quoted Apache Corporation, a leading independent oil
and gas exploration and production company with operations in the United
States, Canada, Egypt, Australia, the United Kingdom and Argentina. He is also
owner of Shaker Mountain Energy Associates, LLC, a consulting firm and a non
executive Director and Interim Chairman of AIM quoted Urals Energy Public
Company Limited, a leading independent exploration and production company with
operations in Russia.
Mr. Henry, 62, brings to the Board a diverse engineering, procurement and
construction background, having over 30 years of international business
experience in the development, financing, and management of oil and gas,
electricity, process, civil and defense related projects and organisations,
13 years of which were at Chief Executive level. He is currently non-executive
Chairman of Burren Energy plc, on the Main List of the London Stock Exchange;
senior non-executive Director of Emerald Energy plc, on the Main List of the
London Stock Exchange, and non-executive Director South East Water Limited,
Simon Carves Limited and HPR Holdings Limited. He previously served as Chief
Executive of Kvaerner E&C Plc, a construction and engineering firm with a
strong focus on the oil and gas sector; Chief Executive of National Power Plc,
a FTSE 100 international power generation and supply company with a market
capitalisation of approximately (pnds stlg)6 billion; and Chief Executive of
Brown & Root Limited and a member of the main Brown & Root/Halliburton
executive management team..
Mr. Zana, 61, is a senior international oil executive having accumulated
over 33 years experience in the upstream oil and gas business. He is currently
non-executive Director of Indago Petroleum, an AIM listed upstream company
with assets located in the Middle East; and non-executive Chairman of
KazStroyServices, a major integrated construction company located in
Kazakhstan. He previously served as General Director of Tengizchevroil Joint
Venture, the operator of the giant Tengiz field in Western Kazakhstan;
Managing Director of the Eurasia Business Unit for Chevron, operating
throughout the former Soviet Union; President of Chevron Petroleum Technology
Company and Chairman and Chief Executive of Nelson Resources, a Canadian and
London listed oil and gas exploration and production company with operations
in Kazakhstan until the company was acquired by Lukoil in December 2005.
Mr. Ray Antony has informed the Board of his decision to step down from
the role of the Chairman of the FCP Board and will not seek re-election to the
Board at the Annual Meeting.
Messrs. Pitman, Henry and Zana will join FCP's non-executive Directors
Alastair Beardsall, Darryl Raymaker and Yuri Shafranik.
Following the elections at the Annual Meeting on June 20, 2007, the newly
elected board will appoint a new non-executive Chairman.
The Company's 2006 Annual Report and Notice of Annual Meeting has been
mailed to shareholders and is available from our website at www.fcpl.ca or
from Sedar at www.sedar.com.
Richard Anderson, President and CEO, commented: "I am very pleased to
introduce these distinguished and accomplished gentlemen as new nominees to
the Board of Directors of FCP. The director nominees bring a diverse range of
upstream oil and gas, engineering and construction experience and I am
confident they will offer constructive and insightful advice as FCP continues
its growth and development."
This news release includes statements about expected future events and
financial results that are forward looking in nature and subject to risks and
uncertainties. First Calgary Petroleums Ltd. cautions that actual performance
may be affected by a number of factors, many of which are beyond its control.
Future events and results may vary substantially from what First Calgary
Petroleums Ltd. currently foresees.
Additional information on these proposed directors to be disclosed in
relation to Schedule Two paragraph (g) of the AIM Rules for Companies can be
found below.
Current Directorships Previous Directorships
SHANE PARKER O'LEARY:
---------------------
Tibbar III Holdings ULC Limited N/A
Partnership
CHARLES JOSEPH PITMAN:
----------------------
Apache Corporation N/A
Shaker Mountain Energy Associates,
LLC
Urals Energy Public Company
Limited
KEITH NICHOLAS HENRY:
---------------------
Emerald Energy plc Petrojarl ASA
Burren Energy plc Punj Lloyd Limited
South East Water Limited Petroleum Geo-Services ASA
Simon Carves Limited Davy Metals Limited
HPR Holdings Limited Kvaerner E&C Plc
Aker Kvaerner Projects Limited
Kvaerner Engineering and
Construction UK Limited
Kvaerner Hammersmith
(No. 1) Limited
Kvaerner Metals Holdings
Limited
Kvaerner Metals International
Limited
Kvaerner Metals Limited
Kvaerner Metals Overseas
Holdings Limited
Kvaerner Process Overseas
Holdings Limited
Kvaerner Th Engineering
Limited
Kvaerner Trustees Limited
Enterprise Oil Limited
Trafalgar House Trustees
Limited
ERDINC NICK ZANA:
-----------------
Indago Petroleum Ltd. Nelson Resources Ltd.
Various wholly owned subsidiaries of Various wholly owned
Indago Petroleum Ltd. subsidiaries of Nelson
KazStroyServices plc Resources Ltd.
ENZA Investments E LLC
ENZA Investments C LLC
ENZA Investments D LLC
Talahasse Holding Limited
There are no other matters to be disclosed in relation to Schedule Two
paragraph (g) of the AIM Rules for Companies for these proposed directors.
For further information: First Calgary Petroleums Ltd.; Richard G. Anderson,
President and CEO, Tel: (403) 264-6697; John van der Welle, Finance Director
and CFO, Tel: +44 (0) 20 3159 4010; Other Contacts: James Henderson, Pelham
Public Relations, Tel: +44 (0) 20 7743 6673; Carina Corbett, 4C - Burvale
Limited, Tel: +44 (0) 20 7559 6710; Nominated Adviser: John Wilkes/David
Nabarro, Nabarro Wells & Co. Limited, Tel + 44 (0) 20 7710 7400
(FCP.)
END
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