ST. JOHN'S, Aug. 27 /CNW/ - NWest Energy Inc. (TSX-V: NWN) is pleased to announce the following appointments to the board: Dr. James W. Buckee, retired Chief Executive Officer of Talisman Energy Inc. and Ms. Jacqueline Sheppard, who has recently announced her retirement as Executive Vice-President, Corporate and Legal, and Corporate Secretary of Talisman Energy Inc. The appointments are effective immediately.
"Dr. Buckee brings to the table international oil and gas experience and executive-level insight. His passion for finding and developing hydrocarbon resources in undervalued oil plays is a perfect fit for NWest", said Francois Gauthier, President & CEO of NWest Energy.
"Ms. Sheppard has been a key member of the senior executive team at Talisman for many years," Mr. Gauthier said. "She has managed a number of major projects and acquisitions and her appointment to the NWest board is a tremendous benefit for the company."
Dr. James Buckee said: "Western Newfoundland holds all the elements of a world-class petroleum province and I look forward to participating in this promising frontier exploration project as well as other high-impact projects throughout the world. NWest has put together a strong management team and I am pleased to work with them in building this company into a significant player in the international oil and gas scene."
Biographical information:
Dr. James W. Buckee
Dr. Buckee was appointed President and Chief Operating Officer for BP Canada Inc. in September 1991 and in May 1993 was appointed President and Chief Executive Officer of Talisman Energy Inc. (formerly BP Canada). He retired in October 2007. Jim received his BSc Honours in Physics from the University of Western Australia. In 1970 he received his PhD in Astrophysics at Oxford University. From 1971 to 1977 he held various petroleum engineering positions with Shell International and Burma Oil. From 1977 to 1987 he held a variety of petroleum engineering posts with British Petroleum in London. In 1987 he became Operations Manager for BP in Norway. Following this he became Vice President, Development Programmes for BP Alaska. In May 1989 he returned to England as Manager, Planning for BP Exploration.
Ms. Jacqueline Sheppard
Jacqueline Sheppard, originally from St. John's, Newfoundland, is a Rhodes Scholar and a prominent Canadian businesswoman. Jackie has recently announced her retirement as Executive Vice-President, Corporate and Legal, and Corporate Secretary of Talisman Energy Inc., having joined Talisman in 1993. She also served as Secretary to the Board, responsible for Legal Affairs, Corporate Projects and Acquisitions, Corporate Communications, Investor Relations, Corporate Responsibility and Government Affairs.
With the appointment of Dr. Buckee and Ms. Sheppard to the board, Carl Sheppard resigns his position from the Board of Directors. As a director and founding shareholder, Mr. Sheppard made a tremendous contribution to NWest Energy. He will continue to provide strategic consulting for the company. "Carl has been a driving force in bringing the company to where it is today and I would like to thank him on behalf of all shareholders for his many contributions," said Francois Gauthier.
Options
Upon joining the board of directors, Dr. Buckee and Ms. Sheppard will each be granted 800,000 options exercisable at $0.50, with 400,000 options vesting immediately and 400,000 options vesting upon the completion of certain corporate milestones.
About NWest Energy
NWest Energy is an innovative Canadian junior oil and gas company pursuing high-impact frontier basins and legacy assets for long-term, sustainable value creation. To date, NWest has acquired four properties, located off the west coast of Newfoundland and Labrador. All properties have defined seismic targets along with considerable exploration potential to host large oil and gas reservoirs. Through exploration licenses with the Canada-Newfoundland Labrador Offshore Petroleum Board, NWest holds approximately 1.6 million acres of highly prospective property in a geologically favourable environment for exploration.
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