SKANA Capital Corp.
TSX VENTURE : SKN

SKANA Capital Corp.

July 18, 2007 09:00 ET

SKANA Capital Corp. Engages Mr. Dick Findley as Consultant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2007) - SKANA Capital Corp. (TSX VENTURE:SKN) ("SKANA" or the "Company") is pleased to announce it has engaged Richard L. (Dick) Findley as a consultant of the Company. Mr. Findley will provide SKANA with technical and geological advice on SKANA's oil and gas investments.

Mr. Findley's professional work experience totals 30 years and began with Tenneco Oil Company, Denver, Colorado and continued with Patrick Petroleum, Billings, Montana. He formed Prospector Oil, Inc. in September 1983. Mr. Findley is best known for his discovery of the Elm Coulee oil field in the Bakken formation, Williston Basin, Richland County, Montana. The Elm Coulee oil field is one of the most significant discoveries in the lower 48 states in the past 50 years. Mr. Findley was named outstanding explorer of the year by the American Association of Petroleum Geologists in 2006. His story has been featured in the Wall Street Journal and the National Post. Mr. Findley also serves as Chairman of Heartland Resources Inc.

The Company has granted Mr. Findley options to purchase up to 300,000 shares in the capital of the Company, with an exercise price of $1.30 per share, exerciseable for a period of five years from the date of grant. 25% of these options shall vest upon the date of grant and 25% shall vest 6 months, 12 months and 18 months thereafter.

The Company has also granted Ms. Jennifer Tong, a consultant of the Company, options to purchase up to 50,000 shares in the capital of the Company, with an exercise price of $1.30 per share, exerciseable for a period of five years from the date of grant. These options shall vest 25% upon the date of Ms. Tong's acceptance of a full-time position as Controller of the Company, and 25% shall vest 6 months, 12 months and 18 months thereafter.

About SKANA Capital Corp.

SKANA is listed on the TSX Venture Exchange as an Investment Issuer and carries on business as a merchant bank. It makes strategic investments in oil and gas and other resource-based opportunities that it believes will offer superior returns through its financial involvement and management expertise.

The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • SKANA Capital Corp.
    Neil Halldorson
    President and CEO
    (604) 669-4899