Epic names Hartzler and Malcolm to board
Epic Oil and Gas Ltd EAS
Shares issued 15,743,706 May 15 close $0.25
Tue 16 May 2000 News Release
Mr. Michael Hopley reports
Epic Oil and Gas Ltd. has made changes to the board of directors. Frank
Donis and Val Donovan have resigned and Curtis A. Hartzler and Robert T.
Malcolm have been appointed to the board.
Mr. Hartzler is an engineer with over 30 years of experience in the oil and
gas industry. Until recently he held the position of president of a private
Calgary-based oil and gas company. During his nine-year tenure, he was able
to increase the assets of the company from $40-million to more than
$200-million while returning all but $15-million of equity to the
shareholders. Previous to this, Mr. Hartzler was president of Penn West
Petroleum Ltd., a company listed on the Toronto Stock Exchange. Mr.
Hartzler has a broad range of experience in oil and gas operations
including evaluations, dispositions and corporate financing. Additionally,
he has been involved in coal bed methane exploration and production as well
as gas storage projects.
Mr. Malcolm, a Calgary-based lawyer, is a partner in the law firm of
Macleod Dixon and has many years of experience in the oil and gas industry.
This includes a broad knowledge of agreements relating to the purchase and
sale of oil and gas properties, joint ventures, petroleum and natural gas
leases, farm-outs, and operating agreements. Further, in his capacity as an
officer and director of a number of public and private oil and gas
companies, Mr. Malcolm has substantial expertise in corporate and
commercial law.
The addition of Mr. Hartzler and Mr. Malcolm to the board of directors
brings a needed depth of experience to the Epic management team. This
legal, operating and acquisition experience will enable the company to more
rapidly advance its plans for the future.
The newly constituted board of directors would like to thank Mr. Donis and
Mr. Donovan for their many years of dedicated service to the company.
In order to fully use all available technical knowledge needed to advance
Epic's projects, the company has formed a technical advisory committee.
This committee will bring cutting-edge technical assistance to Epic's
various continuing projects. Stephen Pappajohn, P.Geo., has agreed to serve
on this committee; he brings over 20 years of geological experience to the
company particularly in the area of coal bed methane exploration. Also,
Robert Bereskin, P.Geo., has agreed to join this advisory committee. Mr.
Bereskin brings over 25 years of hydrocarbon exploration and practical
on-site experience to the company.
There are plans to expand the technical advisory committee so that
specialists will be available to the company in the field of carbon-dioxide
sequestration, and other aspects of Epic's activities.
Epic currently has a number of active projects. These are as follows:
Canada -- enhancing the current oil production from the Redwater field in
central Alberta;
United States (through Epic's U.S. subsidiary, Rival Resources Inc.) --
exploration for natural gas and underground gas storage facilities in
Whatcom county, in northwest Washington state;
exploration for coal bed methane in Washington state; and
development of carbon-dioxide sequestration technology within the coal beds
underlying the company's leases in Washington state.
Lastly, subject to regulatory approval, the company has granted a total of
640,000 stock options at a price of 15 cents to certain members of the
company. |
