ST. JOHN'S, June 24 /CNW/ - NWest Energy Inc. (TSX-V: NWN) is pleased to announce the appointment of Mr. Robert D. Webb as Vice President, Business Development and Operations. Mr. Webb will be responsible for securing partnership agreements for the development of the company's offshore exploration acreage and leading the supervision of all NWest operational activities.
Mr. Webb was formerly a Director at CIBC World Markets. Working in Calgary and London, he played a role in financing and merger and acquisition transactions with an aggregate value of over $10 billion. Prior to his investment banking career, he provided project management and engineering services with Schlumberger to clients in Indonesia, Vietnam, Russia and the United Kingdom. Mr. Webb has an MBA degree from the University of Toronto's Rotman School of Management and an Engineering degree from Memorial University of Newfoundland.
Effective June 17, 2008, Mr. Webb was granted 350,000 incentive stock options, vested over a three-year period and 250,000 incentive stock options to be granted upon the completion of certain performance milestones. All options are exercisable at $0.50.
About NWest Energy
NWest Energy is an innovative Canadian junior oil and gas company developing high-margin 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 favorable environment for exploration.
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