Ticker: EW (TSX-V)
VANCOUVER, Sept. 14, 2011 /PRNewswire/ - Mr. David Sidoo, Chairman of East West
Petroleum Corp. (EW-V) (the "Company" or "East West") - is
pleased to announce that Mr. Barry
Chovanetz has joined the Company as Vice President,
Engineering. Mr. Chovanetz brings over 30 years of global
engineering, commercial valuation and project management experience
to the Company.
Mr. Chovanetz's career spans a variety of
engineering disciplines as an employee of major petroleum firms and
as a consultant, both in North
America and overseas. He began his career in 1978 with
Phillips Petroleum as a reservoir engineer and petrophysicist
working on North Sea, Nigerian, Ivory
Coast and U S properties. He consulted for Merit Energy as a
Reservoir and Exploitation engineer for all company assets.
He was responsible for reserve optimization by evaluating enhanced
oil recovery, infill drilling and waterflood potential as well as
acquiring assets in the US, and Canada for both conventional and
nonconventional assets in the Bakken and Barnett Shale.
Mr. Chovanetz's international experience is
extensive. He held the positions of Petroleum Engineer
Advisor and acting Manager with Kuwait Foreign Petroleum & Exploration
Company where he was instrumental in growing the company in
South East Asia by obtaining
exploration and production assets in Malaysia, Indonesia, Australia and the
Philippines. As Engineering Manager for Sipetrol, his
functional responsibilities included business development,
financial and operational planning, quality control and the
performance of units operating in Brazil. He also directed acquisition
evaluations in the US of both conventional and nonconventional
assets in the Barnett Shale. Mr. Chovanetz held the
position of Staff Reservoir Engineer and Chief Petroleum Engineer
for Triton Energy Corp., overseeing reservoir engineering,
reserves, and project management responsibilities for the company's
major international and domestic projects including offshore
Malaysia, Thailand and onshore Colombia and Argentina. He was responsible for
developing two major discoveries in Colombia of reserves greater than 2 billion
barrels with the joint venture partners. He also held senior
engineering roles at Virginia
Indonesia Company, Tenneco Oil, and Santa Fe Energy.
Most recently, Mr. Chovanetz was employed as an
Reservoir Engineering Advisor at Hess Corporation where he served
in diverse petroleum engineering roles as a Reservoir and Planning
Engineer for company's operated and non-operated assets in
Africa, directing annual budgets
up to $200 million for development of
major producing offshore properties in deep water Equatorial Guinea and onshore in Algeria.
Mr. Chovanetz holds a BS and MS degrees in
Petroleum Engineering from the University of
Texas and is a registered professional engineer in the state
of Texas.
The Company also announces that Mr. Chovanetz
has been granted stock options to purchase up to 225,000 common
shares of the Company at a price of $0.45 per common share for a period of three
years.
Neither the 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.
SOURCE East West Petroleum Corp.