|By Marketwired .||
|June 23, 2014 02:20 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/23/14 -- Petro One Energy Corp. (TSX VENTURE:POP)(PINKSHEETS:CUDBF)(FRANKFURT:C6K1) has granted incentive stock options exercisable to purchase up to 200,000 shares of the Company to a geological consulting company controlled by Dennis Price, P. Geo., Special Advisor to the Company's Board.
Dennis graduated with a BSc degree in geology from Queen Mary College, London University, in 1976. He worked as a field geologist in South America, Africa, USA and western Canada before joining ExxonMobil Corp. in 1981, where he held a combination of technical and business assignments in all facets of exploration, development and production in most of the key Canadian basins. Recent experience has been focused mainly in Alberta, Saskatchewan and BC where he has been managing geoscience aspects of conventional oil and gas properties, property divestment and developing new opportunities. Dennis's extensive Western Canada experience includes prospect generation in Devonian, Triassic and Mississippian carbonates, Cardium, Viking, Glauconitic, Ellerslie, Triassic, and shallow gas formations of the Alberta, Saskatchewan and BC plains and foothills. Dennis is a proven finder with 15 million barrels of oil equivalent reserves proven through drilling or participating in joint opportunities in the Western Canada Sedimentary Basin. He was directly involved in identifying and bringing forward a large unconventional Cardium tight oil Opportunity on ExxonMobil Canada lands at Harmattan that proved to be a material addition to the Corporation's prospective resources. Dennis's services have been instrumental over the past year, and the Company looks forward to his continuing guidance going forward.
The options are non-transferable and are exercisable at the price of $0.40 per share until June 23, 2019, subject to any earlier termination in accordance with their terms. All option grants are subject to acceptance by the TSX Venture Exchange. Shares issued pursuant to the exercise of such options will not be subject to resale restrictions.
ON BEHALF OF THE BOARD
Peter Bryant, President & Director
For further information, please visit the company's website at PetroOneEnergy.com, follow the Company's tweets at Twitter.com/PetroOneEnergy and contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Company, by telephone at (604) 805 0375 or by email at [email protected].
Neither 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 release.