TORONTO, ONTARIO--(Marketwire - June 23, 2011) - 3P International Energy Corp. (the "Corporation" or "3P") (TSX VENTURE:DOH) is pleased to announce that it has engaged Gregory Shideler as the Ukraine country manager.
Gregory Shideler is founder of GS Energy LLC, an energy consultancy focused on Eastern European gas development. Mr. Shideler worked 10 years for BP in various commercial and finance roles in Houston, London, Moscow and Luanda. He is a specialist in the Former Soviet Union gas production, transportation, and marketing system, and speaks fluent Russian. In 2007, while Director of Business Development for TNK-BP gas division, Mr. Shideler led an in-depth review of the Russian gas industry with forecast to 2020, including supply-demand balance, infrastructure review, pricing, government policy, and developed strategies for independent gas producers to work in a Gazprom-dominated system. He led the TNK-BP efforts to build a integrated gas processing-petrochemicals complex in Irkutsk with gas from the Kovykta gas condensate field. He has led various projects in gas exploration, gas field development, infrastructure optimization, and has experience with contracts for gas processing, gas sales, and gas transportation in Russia, Azerbaijan, and North America.
Ron MacMicken, CEO of 3P stated "we welcome Gregory's arrival to the 3P team and believe his deep experience in Eastern Europe and Russia will no doubt add significant value".
The Corporation also announces that Paul DesLauriers has resigned from the board of directors of 3P.
About 3P International Energy Corp.
3P International Energy is a Canadian-based emerging oil and gas company focused on developing and enhancing proven oil and gas reserves in Eastern Europe. The Company's strategy is to use proven technology, capital and expertise to significantly increase production and reserves. 3P shares are traded on the TSX Venture Exchange under the stock symbol DOH.
On behalf of the board of Directors
Ron MacMicken, Chief Executive Officer
Forward-Looking Information
This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. All statements that address future activities, events or developments that the Corporation believes, expects or anticipates will or may occur are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Corporation's control. There can be no assurance that outcomes anticipated in the forward-looking information will occur and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation undertakes no obligations to update publicly or otherwise revise any forward-looking information, except as may be required by law. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Corporation's filings with the Canadian securities regulators available on www.sedar.com.
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Contact Information:
Kirk Gamley
(604) 689-7422
kirk@contactfinancial.com