Strat Petroleum, Ltd. Appoints Board of Advisors 8/2/2004 10:39:00 AM
TORONTO, Aug 2, 2004 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (SPRU) is pleased to announce the immediate appointment of the following individuals to the Company's Board of Advisors.
Mr. Valeryi D. Krukov-Corporate Legal Advisor
Mr. Krukov graduated from the Law School at University of Krasnodar, Russian Federation in 1999 and has risen through the professional legal system at an extremely quick rate. He worked with the District Attorney's office on cases presenting most difficulty with many complications. He then moved to become Head of the Law Department for the Ministry of Fisheries, until he was appointed as Deputy Chief Judge of the Moscow Supreme Court, where he served for the past two years. Currently, Mr. Krukov is an independent practicing attorney and is the lead advisor to Dresdner Bank for Russia. In Mr. Krukov's role, he will ensure the Company fulfills all the legal requirements of doing business in Russia; review and participate in negotiations of acquisitions and joint ventures the Company may enter into. Further, Mr. Krukov's knowledge and experience of the financial industry in Russia will enable him to assist in securing and closing project financing with the various financial institutions the Company will be approaching, both in Russia and Europe.
Mrs. Elena V. Korzun, Ph.D. Oil & Gas - Consulting & Lobbing
Dr. Korzun is the General Director of "AssoNeft", the Association of small and medium size oil & gas producers in Russian Federation which was established in 1994. The association has 45 member companies. These companies own more than 400 oil fields and has produced more than 16 million ton of crude oil in 2003. Approximately 20,000 people are employed by these companies. Dr. Korzun is considered as an expert in the laws & regulations for the oil and gas industry. She has successfully lobbied the Federal Government on many occasions on behalf of "AssoNeft", to increase opportunities, and advantages for the smaller independent producers, and government benefits for the workers. Dr. Korzun will assist the Company in establishing its operations in the Russian Federation, by introducing and promoting it to the other producers.
Victor P. Philipov, PhD., Geology - Consulting Geologist
Dr. Philipov is Dean of the Geological Faculty of the Gubkin Oil and Gas University in Moscow, and is considered as the expert in oil and gas in the Russian Federation. He has over 25 years experience with the Ministry of Oil and Gas Industry, where the last position he held was Chief Geologist. During his career he explored and documented geological findings for all regions of the former Soviet Union.
Dr. Philipov will assist the Company in identifying sites that have the greatest probability of reserves with least recovery costs. He also will ensure geological and feasibility studies contain necessary information and data to receive approval from the appropriate authorities.
Alexander A. Arbatov, PhD., Economics - Consulting
During the Soviet era, Dr. Arbatov was employed with various departments of the Academy of Science providing political, economic and diplomatic advice to the Government on relationships with the West. Since the breakup of the Soviet Union, Mr. Arbatov established and has been the Chairman of the Energy Center for the Russian Federation. This organization provides the Government with analysis and recommendations regarding the development of oil and gas sites in the Country, which are then provided to the likes of BP, Exxon, Mobil, Shell for investment and drilling.
Dr. Arbatov will advise the Company on projects that will provide the best possibility of success, and ensure feasibility studies completed meet all requirements for approval.
Strat is delighted to announce these nominations. With their extensive petroleum, legal, government and management backgrounds, the appointed advisors will enhance Strat's abilities to maximize its performance.
Strat Petroleum, Ltd. is a petroleum based company acquiring licenses for oil and gas properties with proven reserves and where possible with producing or capped wells initially in the Russian Federation.
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Strat Petroleum, Ltd.
Strat Petroleum, Ltd.
Mike Long, 281-565-5983
mike@companyreporter.com
www.companyreporter.com
cbs.marketwatch.com{926187A1-A0BE-4752-B910-CF0D5FC4728B}&siteid=mktw&dist=nbs&symb=
. |
