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Tue, April 17, 2012 Africa Hydrocarbons Appoints New Director and New CFO
April 17, 2012 10:16 ET
Africa Hydrocarbons Appoints New Director and New CFO
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2012) - Africa Hydrocarbons Inc. (TSX VENTURE:NFK) ("AHI" or the "Company") is pleased to announce the appointments of Mr. Gordon McKay as a director of the Company ("Director") and Mrs. Charidy Lazorko as the Company's Chief Financial Officer ("CFO"), effective April 16, 2012.
The Company also announces the resignation of Mr. David Patterson from the board of directors (the "Board") and as the Company's CFO, effective April 16, 2012. The Company would like to thank Mr. Patterson for his service to AHI.
Commenting on the appointment of a new CFO and new Director, Mr. John Nelson, Chief Executive Officer ("CEO") of the Company states, "The appointment of Mr. McKay and Mrs. Lazorko bring valuable oil and gas industry experience into AHI and further strengthen our role as an upcoming Calgary based international oil and gas exploration company and I welcome them aboard."
Mr. McKay has over 25 years of oil industry experience. He currently is a Founder and the President and CEO of All Points Energy Ltd., a private corporation formed in 2010 to focus on oil and gas exploration and production in Alberta. Mr. McKay was formerly Chief Operating Officer of Gentry Resources Ltd. which was acquired by Crew Energy Inc. in 2008. He was Vice President Exploration of Stratic Energy Corporation, a junior oil and gas exploration company focused on Africa and subsequently sold to EnQuest PLC in November 2010. He was also a former director of Lion Energy Corp. which was acquired by Africa Oil Corp. in June 2011.
Mrs. Lazorko is a CGA with over 8 years of financial services and public company experience, with an emphasis on small-cap corporate restructurings, amalgamations and asset acquisitions. She has also acted as financial advisor on numerous private transactions in the oil and gas industry. She currently serves as the CFO of Blackhawk Resource Corp. and Paramax Resources Ltd. Mrs. Lazorko previously served as CFO of Ranger Energy Ltd., which was amalgamated with North Sea Energy Inc. in October 2011.
About the Company
Africa Hydrocarbons Inc. is a Canadian listed exploration company with a vision to develop a significant presence in the developing oil and gas industry within Africa. The Company signed an agreement with DualEx Tunisia Inc., a wholly owned subsidiary of Dualex Energy International Inc., that grants the Company the right to earn 47.5% interest in a 536 km2 exploration permit located within onshore Tunisia.
Forward Looking Statements
Certain information set forth in this press release contains forward looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", may", "will", "project", "should", "believe" and similar expressions are intended to identify forward looking statements. By their nature, forward looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including the receipt of third party approvals, including shareholder and regulatory approvals, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve or resource estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources.
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking statements. Actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. No assurance can be given that any of the events anticipated will transpire or occur, or if any of them do so, what benefits will derive from them. Except as required by applicable securities laws, AHI disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD OF AFRICA HYDROCARBONS INC.
John Nelson, President and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
