VANCOUVER, Jan. 17 /PRNewswire-FirstCall/ -- Norwood Resources Ltd. (the "Company") is pleased to announce the appointment of Mr. Lee DiStefano to the position of Chief Operating Officer ("COO"). The Company welcomes him as a key member of its management team.
As COO, Mr. DiStefano shall report to and be directly responsible to the President and Chief Executive Officer of the Company, with primary responsibilities including the overall management of the Company's technical and operations programs and associated budgets on a day-to-day basis. He will also be responsible for the development and management of a competent E & P organization, which will allow the Company to effectively implement and manage all current and future projects and to diversify its interests.
Mr. DiStefano has more than 27 years of international exploration, production and project management experience in the oil and gas industry, much of it focused in Central and South America. He began his career with Amoco International as an explorationist where his efforts contributed to oil and gas discoveries in Guatemala, Trinidad, Colombia and China. After achieving a series of increasing levels of technical responsibility, Mr. DiStefano became the Commercial Director and Resident Manager for Amoco Peru and finally Resident Manager of Amoco Brazil. Subsequent to British Petroleum's merger with Amoco, Mr. DiStefano joined Canadian Hunter Exploration as Resident Manager in Buenos Aires, Argentina where he successfully led the negotiations of the company's first two international asset and corporate acquisitions. From there, he returned to Brazil with Schlumberger's Integrated Project Management division as Business Development Manager for Latin America where he was involved with the technical assessment, structuring and negotiations of production and value sharing partnerships with Pemex (Mexico), Ecopetrol (Colombia), Petrobras (Brazil) and private operators in Argentina, Bolivia and Peru. In 2005, he formed Shockwave Energy LLC, a company focused on the GOM area, which achieved commercial success with its first exploration well in Louisiana.
Mr. DiStefano joins Norwood after most recently working with Noble Energy as Exploration Manager for Latin America and Far East and acting Resident Manager for Noble Nicaragua where he was responsible for managing production operations in Ecuador, Argentina and China and deepwater exploration activities in Suriname and Nicaragua.
Mr. DiStefano has an MS Geology from Rice University and holds an MBA from the University of Houston.
The Company has granted 400,000 incentive stock options to Mr. DiStefano under the terms of the Company's stock option plan. The options will be exercisable for a period of five years at a price of $0.72 per share and are subject to the policies of the TSX Venture Exchange.
WE SEEK SAFE HARBOUR
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE
CONTACT: about Norwood Resources Ltd. (NRS) contact: Raymond Cahill, President & CEO, E-Mail:
