Press release from Marketwire
New Zealand Energy Corp. Expands Leadership Team
Wednesday, July 25, 2012
New Zealand Energy Corp. Expands Leadership Team07:30 EDT Wednesday, July 25, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2012) - New Zealand Energy Corp. ("NZEC" or the "Company") (TSX VENTURE:NZ)(OTCQX:NZERF) is pleased to announce a number of appointments to its leadership team as NZEC expands its exploration and production activities in New Zealand. HighlightsBruce McIntyre - Executive Director Chris Bush - New Zealand Country Manager Mike Oakes - General Manager Midstream Operations Cliff Butchko - General Manager Upstream Operations Bruce McIntyre has been appointed to the role of Executive Director. Bruce has been President of NZEC since January 2011 and has been instrumental in the exploration success and growth of the Company to date. In his new role as Executive Director, Bruce will oversee the Company's exploration and development opportunities and will continue to represent NZEC within the investment community. Chris Bush has been appointed New Zealand Country Manager, commencing in October. Chris is an experienced oil and gas professional with more than 30 years of experience in both upstream and downstream sectors, including roles in New Zealand, Australia, Canada and the United States. As NZEC's New Zealand Country Manager, Chris will oversee all aspects of the Company's in-country activities, including government and community relations, production activities, acquisition/partnership opportunities, and integration of the Petroleum Licenses and Waihapa Production Station that NZEC has agreed to acquire from Origin Energy pursuant to an agreement dated May 20121. Chris holds a Bachelor of Chemical Engineering (Honours) degree from the University of Canterbury in New Zealand and a Certificate in Finance and Accounting from Rice University in Houston, USA. Prior to joining NZEC he was employed by Origin Energy as New Zealand Country Manager/Director, where he was responsible for the establishment of Origin's oil and gas business in New Zealand including the Kupe, Rimu, Ahuroa Gas Storage and TAWN assets. Chris is a member of the Institute of Directors (New Zealand) and is Chairman of the Petroleum Exploration and Producers Association of New Zealand (PEPANZ). Mike Oakes has been appointed General Manager Midstream Operations, commencing August 6. Mike has worked in the oil and gas industry for 33 years in Canada, Brunei, Australia and New Zealand, overseeing design, commissioning and start up, staffing and operation of both onshore and offshore oil and gas fields and production facilities. Most recently Mike worked for Origin Energy as Operations Manager, Asset Manager and Operational Excellence Advisor, overseeing the development and operation of Origin's oil and gas assets and production facilities in New Zealand. As General Manager Midstream Operations, Mike will be responsible for all producing wells and operation of the Waihapa Production Station.Cliff Butchko has been appointed to the position of General Manager Upstream Operations. Cliff joined the Company in March 2011 and relocated to New Zealand at the end of 2011 to oversee the Company's drilling, completions and production activities. Cliff is a professional engineer with more than 30 years of oil and gas experience in both technical and business roles. As General Manager Upstream Operations, Cliff will continue to oversee all site activities including procurement of well hardware and drill rigs, construction and operation of pipelines, and drilling, completions and production activities."NZEC's ability to attract the industry's top professionals is testament to the prospectivity of our asset base and the strength of our team," said John Proust, NZEC's Chief Executive Officer. "Chris Bush's exceptional management skills and strategic leadership complement the in-country expertise and stakeholder relationships of Ian Brown, NZEC's Chief Operating Officer. Bruce McIntyre, in his new role as Executive Director, will focus on leading the Company's exploration and development opportunities. Cliff Butchko's expertise in drilling and completion activities will ensure the Company meets its operational objectives, while Mike Oakes' leadership and organizational experience will be invaluable as NZEC transitions into operatorship of the Waihapa Production Station and brings new discoveries onstream."With a significant exploration program set to begin in early August, NZEC is building the foundation to support continued growth in all areas of its business."In connection with the appointment of officers, NZEC has granted 240,000 stock options exercisable at $1.73 and 1,000,000 stock options exercisable at $1.68. The options are exercisable for a period of five years and vest over a period of 24 months, with one quarter of the options vesting every six months. On behalf of the Board of DirectorsJohn Proust, Chief Executive Officer & Director About New Zealand Energy Corp.NZEC is an oil and natural gas company engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. NZEC's property portfolio collectively covers two million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island. The Company's management team has extensive experience exploring and developing oil and natural gas fields in New Zealand and Canada, and takes a multi-disciplinary approach to value creation with a track record of successful discoveries. NZEC plans to add shareholder value by executing a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC is listed on the TSX Venture Exchange under the symbol NZ and on the OTCQX International under the symbol NZERF. More information is available at www.newzealandenergy.com or by emailing firstname.lastname@example.org.Forward-looking StatementsThis news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the word "integration" is intended to identify a forward-looking statement as it relates to the Origin Acquisition Agreement announced on May 31, 2012, whereby NZEC has entered into an agreement with Origin Energy Resources NZ (TAWN) Limited to acquire four Petroleum Mining Licenses, the Waihapa Production Station and associated gathering and sales infrastructure. Closing of the acquisition is targeted for October 2012 and is contingent on receiving New Zealand government approvals, Origin completing the current recommissioning of the TAWN LPG extraction facility, Origin and/or NZEC entering into an agreement with Contact Energy regarding the use and development of Origin's Ahuroa gas storage facility, and standard TSX Venture Exchange approvals. Closing of the acquisition involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including without limitation, NZEC's ability to close the Origin Acquisition Agreement on time or at all; the need to obtain New Zealand government and TSX-V approval before closing the Acquisition; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failure to realize the anticipated benefits of acquisitions; and other factors as disclosed in documents released by NZEC as part of its continuous disclosure obligations. NZEC believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release and NZEC does not undertake to update any forward-looking statements that are contained in this news release, except in accordance with applicable securities laws. 1 Closing of the acquisition is targeted for October 2012 and contingent on receiving government approvals, Origin completing the current recommissioning of the TAWN LPG extraction facility, Origin and/or NZEC entering into an agreement with Contact Energy regarding ongoing operation of Contact's Ahuroa gas storage facility, and standard TSX Venture Exchange approvals.FOR FURTHER INFORMATION PLEASE CONTACT: John ProustNew Zealand Energy Corp.Chief Executive Officer & DirectorNorth American toll-free: 1-855-601-2010ORBruce McIntyreNew Zealand Energy Corp.Executive DirectorNorth American toll-free: 1-855-601-2010ORRhylin BailieNew Zealand Energy Corp.Vice President Communications & Investor RelationsNorth American toll-free: email@example.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.