TRAFINA Energy Ltd.

TRAFINA Energy Ltd.

October 09, 2008 14:45 ET

TRAFINA Energy Ltd. Announces Board of Directors and New President and CEO

CALGARY, ALBERTA--(Marketwire - Oct. 9, 2008) - TRAFINA Energy Ltd. (TSX VENTURE:TFA.A) (TRAFINA or the Company) wishes to announce that Robert W. Lamond, Charles A. Teare, Kelly J. Ogle, Roland T. Valentine, Donald J. Douglas and Russell J. Kalmacoff were appointed as directors at the annual general and special meeting of shareholders held on October 3, 2008. At a board meeting held following the shareholder meeting the board approved the appointment of Robert Lamond as Chairman of the board.

TRAFINA also announces that the board approved on October 8, 2008 the appointment of Kelly Ogle as President and Chief Executive Officer of the Company. The Company wishes to thank Thomas Holland for his service as interim President and Chief Executive Officer since February, 2008.

In connection with the appointment and as part of Mr. Ogle's compensation package, the board approved the grant to Mr. Ogle of options to acquire 250,000 shares of the Company at a price of $0.40 per share. Mr. Ogle has also agreed to purchase up to 800,000 shares of the Company at a price of $0.40 per share in order to allow him to establish an ownership stake in TRAFINA. The issuance of the shares is subject to the Company fulfilling the requirements of the TSX Venture Exchange.

Mr. Ogle most recently served as President and Chief Executive Officer of Upper Lake Oil and Gas Ltd., a TSX listed oil and gas exploration and development company. Previously, Mr. Ogle was President of Diamond Tree Energy Ltd., a TSX listed oil and gas company, and Diamond Tree Resources Ltd., a private oil and gas company, from October, 2004 until October 12, 2007. Prior thereto, Mr. Ogle was President and Chief Executive Officer of Ranchgate Energy Inc., then a TSX listed oil and gas company, from January 2003 to August 2004. Mr. Ogle holds a Bachelor of Arts degree from the University of Saskatchewan.

TRAFINA is a junior oil and gas company based in Calgary, Alberta. It is primarily a natural gas producer, with its main areas of interest being in Wetaskiwin, Jenner, Carson Creek/ Judy Creek and Bindloss; all of which are located in Alberta. TRAFINA's shares trade on the TSX Venture Exchange under the stock symbol TFA.A.

Forward Looking Statements: This news release contains forward looking statements based on management's current expectations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by TRAFINA at the time of preparation, may prove to be incorrect. The forward looking statements contained in this news release are made as at the date of this news release and, except as required by applicable securities laws, TRAFINA does not undertake any obligation to update publicly or otherwise any such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • TRAFINA Energy Ltd.
    Kelly J. Ogle
    President and Chief Executive Officer
    (403) 263-0800
    (403) 263-0811 (FAX)
    TRAFINA Energy Ltd.
    Robert W. Lamond
    (403) 269-9889
    (403) 269-9890 (FAX)