G2 Energy appoints Whitby as president, COO
Mr. Slawek Smulewicz reports
G2 ANNOUNCES DIRECTORS AND MANAGEMENT CHANGES
G2 Energy Corp.'s board of directors has appointed David Whitby, currently a director and president of the company, as president and active chief operating officer, and Gabriel Monteiro Queiroz, currently a director of the company, as chief financial officer. The board of directors of the company has accepted the resignation of James Tague as chief operating officer and director and Oleg Scherbina as interim chief financial officer, effective as of March 31, 2023. In light of Mr. Tague and Mr. Scherbina's resignations, the company wishes to thank Mr. Tague and Mr. Scherbina for their services during their tenure, and notes that Mr. Scherbina will still work for the company in the position of internal auditor.
As outlined in the Dec. 24, 2021, news release, Mr. Whitby is a senior executive with 40 years of industry experience in the oil and gas sector. Mr. Whitby is known in Southeast Asia, Australia and Canada with broad experience, who has been relied upon to manage complex situations, having worked for 14 years with Husky in Canada and 12 years for Gulf Canada/ConocoPhillips in Indonesia and Australia. Mr. Whitby grew up in Swift Current, Sask., and studied mechanical engineering at the Royal Military College of Canada, and served in the base engineering unit at CFB Calgary before joining Husky Oil as a field engineer in Lloydminster. After a stint in the Husky's reservoir group, Mr. Whitby packed up the family and moved to Indonesia. Upon returning from Indonesia, he was promoted to vice-president of Husky's heavy oil group. The majority of his career has been focused on monetizing gas reserves in Indonesia, having closed five major gas supply contracts in Indonesia, where he pioneered the modern-day gas industry. He is also the former president and chief executive officer of Australian Securities Exchange-listed Nido Petroleum. Through a series of partnerships and land acquisitions, Nido Petroleum gained control of the offshore NW Palawan basin in the Philippines. The previously stranded Galoc oil field was brought on stream, and an exploration portfolio generating 60-plus drillable prospects was built. Under his leadership, Nido Petroleum raised more than $100-million (Australian) through fresh equity and convertible debt. The share price of the company rose from 1.6 cents in 2004 to 62 cents in 2008, resulting in a market capitalization in excess of $600-million (Australian) to become an ASX 200 company.
Mr. Queiroz possesses a solid background in finance and economics, including corporate finance experience. His experience in the energy industry includes consultant roles for major public companies in the oil and gas industry in South America and the Middle East, and roles as business development manager and a commodity trader in the North American market. He holds a master of arts in economics from the University of Missouri, a master of business administration in applied finances from PUC Minas, Belo Horizonte, MG, Brazil, and a bachelor of economics from UFJF, Juiz de Fora, MG, Brazil. His experience working for Deloitte Touche Tohmatsu in Rio de Janeiro, Brazil, will assist him in his new position.
Additionally, the board has added Markus Mair as an independent director and as a representative of the company's European shareholders. Mr. Mair holds a diploma in international business administration from the University of Applied Sciences, Furtwangen, has more than 30 years of experience in the banking and finance industries, has been an active investor in the resource industry for over 15 years, and is currently the founder and chief executive officer of a private investment company in Germany. He is also one of the company's 10 largest shareholders.
Slawek Smulewicz stated: "After overcoming our recent challenges, we have emerged stronger and more importantly leaner. Our focus is now on capital efficiency and ramping up production on the Masten unit in order to build back shareholder value and execute on our pipeline of opportunities."
About G2 Energy Corp.
G2 Energy is a junior oil and gas producer listed on the Canadian Securities Exchange. Its primary focus is to acquire and develop additional overlooked, low-risk, high-return opportunities in the oil and gas sector. G2 Energy's strategy is to obtain a portfolio of risk-managed production and development opportunities onshore, United States. In May, 2022, G2 Energy acquired the Masten unit in the Permian basin, Texas. The Masten unit is the company's first producing asset. G2 Energy is targeting top-tier projects with operating netbacks and infrastructure facilities, which will fast-track overall oil and gas production growth.
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