PetroWorth Resources Inc.

PetroWorth Resources Inc.

April 12, 2007 10:37 ET

PetroWorth Resources Inc. Appoints New Chairman and CFO

CALGARY, ALBERTA--(CCNMatthews - April 12, 2007) - PetroWorth Resources Inc. (CNQ:PTWR) (FRANKFURT:T3F) announced today the appointment of Colman O'Brien to the board of directors and as Chairman. The company also announced the appointment of Amy Stephenson to the board of directors and as the company's new Chief Financial Officer.

Colman O'Brien is an experienced business executive and securities industry professional. He is the former CEO of Advanced Media Services, a private cable operator based in Michigan. He was also Executive Vice President at Rockwater Capital Inc., a Canadian investment dealer. Prior to that, he was co-founder, President and Vice Chairman of, Canada's first internet investment bank. He also served as Senior Vice President of TD Evergreen, which was TD Bank's wealth management division.

Amy Stephenson is a seasoned corporate finance professional with extensive international experience. Most recently, she was an equity research analyst with e-Research, focusing on the mining sector and special situations. She is the former Chief Financial Officer of GoldQuest Mining Corp., a TSXV listed company. She was also CFO at Hanfeng Evergreen Inc., a TSX listed company. Earlier in her career, she provided corporate finance, independent valuation and due diligence services as a Senior Associate at Evans & Evans.

PetroWorth also announces the resignations of Jim Trainor (Chairman), Alex Falconer, John McLeod and Richard Hawes from the board of directors. The company would like to thank each of the outgoing directors for their efforts and contributions, and wishes them all the best in their future endeavours. PetroWorth's board is now comprised of Colman O'Brien (Chairman), Neal Mednick (President), Amy Stephenson (CFO) and William Forster (outside director).

PetroWorth Resources Inc. is a junior oil and gas exploration company with extensive onshore properties in Eastern Canada. The Company has acquired 100% working interests in almost one million acres in nine separate exploration permits on Prince Edward Island, Nova Scotia and New Brunswick. The strategy of the company is to conduct aggressive exploration programs on these permits, both internally generated and through advantageous farm-in arrangements.


Certain statements contained herein constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements. The Corporation has adopted the standard of 6 Mcf:1 BOE when converting natural gas to BOE. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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