(TSX-V Symbol: EXX)
HOUSTON, Jan. 4 /CNW/ - Exxel Energy Corp. (the "Company") (TSX Venture - EXX), is pleased to announce Tony Gale will join the Company as Senior Vice President of Operations effective January 15, 2007. Mr. Gale joins Mr. Bill Lingley who was announced as the Company's VP Exploration in the press release issued on Tuesday, January 2, 2007.
Mr. Gale brings 25 years of petroleum engineering experience focusing on both unconventional and conventional plays throughout the United States. Mr. Gale served most recently as the Senior Vice President at Gunnison Energy Corporation, where he was in charge of running the oil & gas operations for Gunnison. While at Gunnison, he focused primarily on unconventional plays in the Rocky Mountain region. Previously, Mr. Gale served in numerous capacities, including Operations and Engineering Manager, for Cabot Oil and Gas Corporation. For the past 10 years, Mr. Gale has focused specifically on operations in the Rocky Mountain region and has been responsible for production, drilling and engineering operations for both companies. He graduated from Marietta College with a Bachelor of Science in Petroleum Engineering.
Cliff Adams, President and CEO of Exxel Energy Corp., comments, "We are extremely pleased to have Tony join our team at Exxel. Along with the recent hiring of Bill Lingley leading the Exploration front, Tony complements the team bringing 25 years of experience in drilling operations and significant knowledge and experience in unconventional resource plays. Tony will be critical in working with Bill to further progress our drilling plans in our Columbia River Basin, managing our Piceance Basin drilling program and identifying new potential opportunities in the Rockies region. We are extremely excited about the additions of both Tony and Bill and the depth of knowledge and experience each of them bring to Exxel."
Company Grants Stock Options to Gale
The Company has granted stock options on a total of 200,000 common shares of the Company to Tony Gale, all such options being exercisable at $4.00 per share. The options shall vest evenly over three years upon the anniversary of Gale's employment. The options will be subject to the Company's 2006 Stock Option Plan (approved on September 7, 2006). All options shall vest upon termination by the Company other than for Cause and by the Employee for Good Reason. The options are granted effective January 15, 2007 and are subject to regulatory approval.
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