|Wed Apr 2, 2014|
Oracle Energy Corp. Announces New CEO and Two New Independent Directors
|VANCOUVER, April 2, 2014 - The Board of Directors of Oracle Energy Corp (TSX.V: OEC), is pleased to announce that Peter Francis has been named as Chief Executive Officer and that Ambassador Howard Jeter and Cyril Odu will be joining the board as Independent Directors.|
Peter Francis has more than 35 years of experience in the oil and gas industry and has lived and worked in the US, Europe and Africa. He has held a number of executive treasury and government relations positions with ExxonMobil and Shell, most recently based in Abuja advising on business development and legislative issues. Mr. Francis has been instrumental in raising loans for Mobil's E&P worldwide operations including the groundbreaking NNPC/Mobil Producing Nigeria $1 billion loan for the Oso Condensate field development. He has also guided ExxonMobil's new business entry strategies in Russia, Kazakhstan, Azerbaijan and Turkmenistan. Mr. Francis serves on the board and chairs the Audit Committee of Africare, the largest African-American led development organization. He holds professional qualifications Associate and Fellow of the Chartered Insurance Institute in London.
Howard F. Jeter retired from the State Department in 2003 after a distinguished 27-year career in the Foreign Service. Ambassador Jeter was the U. S. Ambassador to Nigeria from 2000-2003. He also served as Deputy Assistant Secretary of State for African Affairs, State Department Director for West African Affairs, President Clinton's Special Envoy for Liberia, and Ambassador to Botswana. He also had multi-year assignments in Lesotho, Namibia, Tanzania and Mozambique. Ambassador Jeter was the recipient of numerous awards and commendations, including the Presidential Meritorious Service Award, Superior Honor Awards, and several Performance Awards. Ambassador Jeter is a member of the Council on Foreign Relations, the American Academy of Diplomacy, the American Foreign Service Association, and Phi Beta Kappa. Ambassador Jeter earned his Bachelor of Arts Degree, with Honors, from Morehouse College. He later received a Master's Degree in International Relations and Comparative Politics from Columbia University and a second Master's Degree in African Studies from UCLA.
Cyril Akporuere Odu is currently the head of the energy fund at Africa Capital Alliance, a Lagos based investment bank. Prior to joining Africa Capital Alliance he served 39 years with ExxonMobil reaching the position of Vice Chairman of the Board of Mobil Producing Nigeria and CFO for Exxon Mobil Upstream Companies in Nigeria. He earlier served in a number of technical and management positions including Associate Geologist, Treasurer, Controller, Project Finance Director (Europe, Middle East and Africa), Country HR Manager and General Manager for Planning and New Business Development. He was actively involved in developing and executing ExxonMobil business strategies in Nigeria, as well in as the implementation of several innovative funding and financing solutions, including the first upstream financing deal (the 1991 Oso Condensate field development) in Nigerian history. In 2008, he served on a presidential committee tasked with accelerating the expansion of Nigeria's power infrastructure. He is also a Director of Union Bank of Nigeria.
Nasim Tyab, Chairman stated, "We welcome Peter Francis to the new role of CEO and Howard Jeter and Cyril Odu as Independent Directors to the Oracle team; Peter, Howard and Cyril all have extensive experience of living and working in Nigeria and their knowledge of oil and gas across Africa is viewed as invaluable by the company."
Oracle Energy Corp is an international oil and gas exploration and development company with near term focus on development of Nigeria's huge oil and gas resources. Oracle has two indigenous partners in Nigeria, Bolad Energy and Greenacres Energy and is well positioned to participate as Foreign Technical and Financing partner in the current Nigerian Marginal Field Round and continuing International Oil Company asset divestments.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward-looking statements in this release are made pursuant to the 'safe harbour' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
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