CORP / Arakis Energy Corp. Announces Appointment of President
and CEO
NASDAQ SYMBOL: AKSEF
FEBRUARY 6, 1998
CALGARY, ALBERTA--Arakis Energy Corporation (NASDAQ: AKSEF). The
Board of Directors of Arakis is very pleased to announce the
appointment of Raymond P. Cej to the position of President and
Chief Executive Officer. Mr. Cej, a professional engineer, brings
to Arakis over 29 years of experience in all aspects of Canadian
and international oil and gas business. Mr. Cej was employed with
Shell Canada Limited from 1969-1995, gaining experience managing
and directing activities in many areas of the business including
exploration, production and marketing of oil, corporate finance,
investor relations, financial management and general
administration. Mr. Cej's time at Shell culminated in his holding
the position of Senior Operating Officer, Resources, and as a
member of the five-man senior management team accountable to the
Board of Directors. Most recently, Mr. Cej served as CEO and
Chairman of the Board of Kyrgoil Corporation; a Calgary based
company with exploration, development, production, refining and
marketing operations in the Kyrgyz Republic of Central Asia. Mr.
Cej also serves as Chairman of the Canadian Association of the
World Petroleum Congress and was instrumental in the development
and marketing of the Association's recent successful bid to host
the 16th World Petroleum Congress in Calgary, Canada in the year
2000. Mr. Cej holds a B.Eng. in Chemical Engineering from the
Royal Military Colleges System and an M.Sc., also in Chemical
Engineering, from the California Institute of Technology.
Commenting on the appointment, Mr. Lutfur Rahman Khan, Chairman of
the Board of Directors of Arakis said, "The addition of Mr. Cej,
combined with the strength of the Board of Directors and existing
officers, represents a formidable management team leading Arakis
through the next critical phase of the Sudan Petroleum Project
consisting of the construction of the pipeline and continuing to
oil production in 1999."
Arakis has a 25 percent interest in the Sudan concession through
its participation in the Sudan Project Consortium comprised of
State Petroleum Corporation (25 percent), China National Petroleum
Company (40 percent), Petronas Carigali Overseas Sdn Bhd (30
percent) and Sudapet Limited (5 percent). |
