Oil Optimization Inc. Announces Appointment of Chief Financial Officer
02 June 2014 - 10:01PM
Access Wire
CALGARY, Alberta / ACCESSWIRE
/ June 2, 2014 / Oil Optimization Inc. (TSX-V: OOI) (the
"Corporation") is pleased to announce the appointment of Mr. Arif
Shivji, CA, CFA, as Chief Financial Officer of the Corporation.
Arif holds a Bachelor of Commerce degree from the University of
Calgary and a Masters in Business Administration from the Richard
Ivey School of Business, in addition to being a member of the
Institute of Chartered Accountants of Alberta and of the Chartered
Financial Analysts Institute.
As a previous
Chief Financial Officer of a TSXV-listed
company, Arif managed all financial aspects of the business and was
involved in the funding of several significant projects. He has
also worked as an independent corporate finance advisor and in that
capacity advised in the successful acquisition of a private oil
company and the purchase of international petroleum assets, and
provided a fairness opinion in connection with a completed public
company acquisition. As a former Manager of
Transaction Services with PwC Advisory, Arif advised clients with
respect to mergers and acquisitions in both Canada and the United
Kingdom.
The appointment is effective
immediately and subject to TSX Venture Exchange
approval.
About Oil Optimization Inc.
Oil Optimization Inc. is an
international junior oil and gas exploration company based in
Canada with an advanced discovery program onshore Thailand. The
Corporation owns the long-term exclusive rights to onshore Block
L14-50, which is subject to a 22% farm-out agreement. The one
million acre petroleum concession covers the entire northern
section of the hydrocarbon-rich Phetchabun basin in central
Thailand, which has been subject to a 200-line kilometer 2D seismic
data acquisition program and an extensive magnetic survey. The
southern section of the basin is currently being developed by
China's ECO Orient Energy Ltd (60%) (a wholly-owned subsidiary of
the Hong Kong and China Gas Company Limited), Australia's Carnarvon
Petroleum Limited (20%) and by Loyz Energy Limited (20%) of
Singapore.
Forward-Looking
Statements
This news release
contains forward-looking statements and forward-looking information
within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate",
"objective", "ongoing", "may", "will", "project", "should",
"believe", "plans", "intends" and similar expressions are intended
to identify forward-looking information or statements. More
particularly and without limitation, this news release contains
forward-looking statements and information concerning the expected
activities of Oil Optimization. The forward-looking statements and
information are based on certain key expectations and assumptions
made by Oil Optimization. Although Oil Optimization believes that
the expectations and assumptions on which such forward-looking
statements and information are based are reasonable, undue reliance
should not be placed on the forward looking statements and
information because Oil Optimization can give no assurance that
they will prove to be correct. By its nature, such forward-looking
information is subject to various risks and uncertainties, which
could cause the actual results and expectations to differ
materially from the anticipated results or expectations expressed.
Readers are cautioned not to place undue reliance on this
forward-looking information, which is given as of the date hereof,
and to not use such forward-looking information for anything other
than its intended purpose. Oil Optimization undertakes no
obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
This news release is intended
for distribution in Canada only and is not intended for
distribution to the United States newswire services or
dissemination in the United States. It does not
constitute an offer to sell or a solicitation of an offer to buy
nor shall there be any offer or sale of any of the Common Shares in
any jurisdiction in which such offer or sale would be unlawful. The
Common Shares have not been and will not be registered under the
U.S. Securities Act, or the securities laws of any state of the
United States and may not be offered or sold within the United
States or to, or for the account or benefit of, a U.S. Person (as
defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
For additional information contact:
Luc Desmarais
President & CEO
Email: ir@oilop.com
Website: www.oilop.com
NOT
FOR DISTRIBUTION TO THE UNITED STATES WIRE SERVICES OR
DISSEMINATION IN OR INTO THE UNITED STATES
SOURCE: Oil Optimization Inc.
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