|By Marketwired .||
|July 17, 2014 02:04 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/17/14 -- Super Nova Petroleum Corp., (CSE:SNP)(PINKSHEETS:SNOVF) (the "Company" or "Super Nova" or "SNP") wishes to announce and welcome Ben Chu as its new President, COO and director effective immediately.
Mr. Ben Chu has been in the oil industry for over 15 years with experience in engineering, project finance, procurement and supply chain management, management of well service suppliers, analysis of energy commodity markets, and in private placements. Mr. Chu's company, BNV Energy Company LLC ("BNV"), located in Houston, Texas, has recently purchased a parcel of Land form the companies land position on the Bakken Fairway in North-West Montana. BNV has also committed to drilling 2 gas wells and building a gas gathering system on a portion of the Company's 12,000 acre farm-in lands on the Bakken Fairway in North-West Montana. The cost is estimated at $1,500,000 with the Company being carried for 40%. BNV also has a significant land position in the Alberta Bakken Fairway, much of it adjacent to the Company land positions, and thus we anticipate many shared resources, suppliers, learnings, and cooperative opportunities. BNV expects to commence drilling the gas wells once the winter crop of wheat is harvested by mid to end of August 2014.
The Company is delighted to have an individual with the expertise in the oil patch to lead its technical team of consultants and become an important member of the Company's management team.
Currently the Company is negotiating with a separate entity to J.V. the deep Bakken Well on its property. This well has been drilled and cased for 880 ft. and it is estimated the Bakken oil formation is at 8,800 ft.
The Company is currently marketing a convertible note with conversion either to common shares of the Company or ownership of the wells as well as a non-brokered private placement.
On behalf of the Board of Directors:
SUPER NOVA PETROLEUM CORP.
Wolf Wiese, CEO
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER CSE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
Super Nova Petroleum Corp.