CALGARY, ALBERTA--(Marketwired - Oct. 21, 2013) -
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Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to announce the appointment of Cameron G. Vouri as the Corporations new Chief Operating Officer. Mr. Vouri is a professional engineer with over 25 years' experience in the exploitation, operation, acquisition and divestiture of oil and natural gas properties primarily in Canada and the United States. He has held positions of increasing responsibility with Koch Exploration Canada as Manager Operations, President Upstream Canadian Oil and Gas Business Unit at Provident Energy Trust and COO and VP Operations at Renegade Petroleum. At Koch, Mr. Vouri played a key role in developing 35,000 boe/d in northeast Alberta through a unique business strategy that advanced heavy oil technology. Mr. Vouri was also involved in the evaluation and development of international projects in the United States, China and Albania. In 2000, Mr. Vouri joined Founders Energy, the predecessor to Provident Energy Trust. As part of the executive team, Mr. Vouri was instrumental in the growth of Founderst from 3,500 boe/d to over 30,000 boe/d with responsibility for all aspects of the upstream division, including strategy, budgets, execution and over 350 staff. As a result of the sale of the Canadian upstream business unit in April 2010, Mr. Vouri left Provident. He subsequently served as COO and VP Operations at Renegade Petroleum until February 2011. Mr. Vouri has held directorships with various private and public companies during his career.
Manitok is also pleased to announce the appointment of Don Martin as Vice President of Exploration, Plains. Mr. Martin will be responsible for exploration and exploitation activities in the newly acquired lands in the Entice Area of southeast Alberta. Mr. Martin has over 30 years of progressive geoscience experience in the areas of exploration, development, acquisitions and divestitures as well as strategic planning. During Mr. Martin's career he has focused on the Western Canadian Sedimentary basin. Mr. Martin started his career at PanCanadian Petroleum after graduating from the University of Toronto in 1980 with an Honours BSc specializing in Geology. He has worked for a variety of junior to senior producers, including Anderson Exploration, Evergreen Resources and TriWestern Energy.
The Corporation also wishes to announce the departure of Tim de Freitas as Manitok's Chief Operating Officer and Vice President of Exploration. The board of directors of Manitok wishes to thank Mr. de Freitas for his service to Manitok and wishes him every success in the future.
Manitok is a public oil and gas exploration and development company focusing on conventional oil and gas reservoirs in the Canadian foothills and Southeast Alberta. The Corporation will utilize its experience and expertise to develop the untapped conventional sweet oil and liquids-rich natural gas pools in both the Foothills and southeast Alberta areas of the Western Canadian Sedimentary Basin.
For further information view our website at www.manitokenergy.com
The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. Per boe amounts have been calculated using a conversion ratio of six thousand cubic feet of natural gas (6 mcf) to one barrel of oil (1 bbl). The boe conversion ratio of 6 mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
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