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Newton Energy Corporation Announces the Appointment of Two New Directors and One Resignation
By: Marketwired .
Feb. 11, 2013 05:00 PM
CALGARY, ALBERTA -- (Marketwire) -- 02/11/13 -- Newton Energy Corporation (TSX VENTURE:NTN) (the "Company" or "Newton") announces the appointment of Mr. Fram Moos and Mr. Dale Burstall as directors of the Company, subject to regulatory approval.
Fram Moos has over 20 years of involvement in the oil and gas and resource sector. He has been President of a private energy company and a senior geologist/consultant to several oil and gas companies in the areas of exploration geology, project management and land acquisition and sales. He holds a P. Geology designation with APEGA, an honours degree from the University of Waterloo in Earth Sciences and a general management certificate from the University of Calgary. He is also a graduate of the Canadian Securities Course and the Conflict Resolution program at Mount Royal College and he has mediation experience with the Provincial Court of Alberta.
Mr. Burstall has been a partner with Burstall Winger LLP since 1994 where he practices corporate and securities law. Dale has been a director or secretary of both private and publicly listed companies.
The Company also announces the resignation of Mr. Frank Stack as a director of the corporation. Newton is deeply indebted to Mr. Stack for his significant contribution to the Board of Directors of the Company and the management and directors of Newton wish him well in his various business endeavors.
As previously announced, the Company is assessing all of its assets and exploration target areas including its farm-in to the offshore Blocks A1, and A4 in The Gambia which is subject to financing. Despite difficult market conditions for financings, the Company remains cautiously optimistic with its negotiations with joint venture partners.
The Company is in discussions with partners to drill an appraisal well on its Belvoir prospect. The Company is concentrating on certain specific geographic areas where it has technical competence and experience.
Newton holds UK East Midlands assets and a farm-in agreement in The Gambia blocks A1 and A4. Newton is in discussions with several potential partners to facilitate field appraisal and development of the Belvoir Prospect.
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to receipt of regulatory approval. Statements included herein, other than statements of historical fact, including, 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 description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Newton's disclosure documents on the SEDAR website at www.sedar.com Newton does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Neither the TSX venture 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.
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