Vast Exploration Inc.

Vast Exploration Inc.

June 19, 2008 14:00 ET

Vast Appoints General Jay Garner to the Board of Directors and Colonel Richard Nabb as Vice President-Kurdistan Operations and Announces Stock Options

CALGARY, ALBERTA--(Marketwire - June 19, 2008) - Vast Exploration Inc. ("Vast" or "the Company") (TSX VENTURE:VST) is pleased to announce the appointment of General (U.S. Army, Retired) Jay M. Garner to the Board of Directors of the Company. Mr. Garner has been involved as an advisor to Vast and to Forbes & Manhattan, Inc. in the recent acquisition of an oil block in Kurdistan, Northern Iraq. In addition, Vast has appointed Colonel Richard Nabb to the position of Vice President, Kurdistan Operations. Col. Nabb is based in Erbil, Kurdistan. Both Gen. Garner and Col. Nabb have extensive experience in Kurdistan and were involved in Operation Provide Comfort in Northern Iraq in 1991 which led to the establishment of the No Fly Zone which led to the preservation of the Kurdistan region within Northern Iraq.

Mr. Stan Bharti, Chairman of the Board of Directors, commented "We are delighted to add General Garner and Col. Nabb to our organization. Jay's and Dick's distinguished experience and political knowledge of the area will prove invaluable to our shareholders as we undertake our project in the Kurdistan region of Iraq."

General Garner's military career culminated with his being Assistant Vice Chief of Staff, U.S. Army. Prior assignments include Commanding General, U.S. Army Space and Strategic Defense Command (USASSDC), headquartered in Arlington, Virginia; Assistant Deputy Chief of Staff for Force Development, Office of the Deputy Chief of Staff for Operations and Plans, Washington, D.C. at the Pentagon; Deputy Commanding General, V Corps in Frankfurt Germany; and Deputy Commanding General, U.S. Army Air Defense School. In January 2003, General Garner was appointed by the Secretary of Defense to organize and direct the Office of Reconstruction and Humanitarian Assistance (ORHA) for post-war Iraq.

In 1991, General Garner was appointed Commanding General, Joint Task Force Bravo for Operation Provide Comfort in northern Iraq. Under his leadership, a coalition of American, British, French and Italian forces provided humanitarian relief assistance to the Iraqi Kurds.

After his retirement from the military, General Garner became President of SYTechnology. From 2000 to 2001, he was a member of the Congressionally-mandated Commission to Assess United States National Security Space Management and Organization.

Col. Nabb was the commander of the allied forces in northern Iraq in 1991 where he was largely responsible for implementing a humanitarian effort to assist and resettle many of the destroyed villages. In 2003, he was appointed as North Regional Coordinator for the Coalition Provisional Authority, where he was responsible for the administration of seven northern governorates (including Kurdistan) from a military and economic perspective. Through his extensive experience in the region, Col. Nabb has been able to establish key relationships with the political leadership that will be a significant advantage as we progress to setup our operations.

"Vast is very pleased to add Col. Nabb as a member of our executive team. His knowledge and experience will greatly enhance our capabilities and planned initiatives as we move forward," added Ahmed Said, President and Chief Executive Officer.

The Company has accepted the resignation of Mr. Dean Louis as a member of the Board of Directors. We wish to thank Mr. Louis for his guidance and contribution to the Company's domestic initiatives over the past few years.

In addition, the Company is pleased to announce that it has that it has granted a total of 6,860,000 options under the stock option plan of the Company to various officers, directors and consultants. The options have an exercise price of $0.99 per option exercised and will vest immediately subject to the statutory four month hold. The options shall expire five years from the date of grant and remain subject to regulatory approval.

About Vast Exploration Inc.

Vast Exploration Inc. is an independent oil and gas company, and a partner of Niko Resources Ltd. Vast is focused on the exploration and development of its principal asset, the Qara Dagh Block, in the Kurdistan region of Iraq. The Qara Dagh Block lies on trend with existing discoveries and is located in the prolific Zagros Fold Belt of Northern Iraq which contains several large fields including the super-giant Kirkuk field.

Statements in this release that are not historical facts are "forward-looking information" within the meaning of applicable securities law. Forward-looking information typically contain words such as "anticipate", "plan", "expect", "potential", or similar words suggesting future outcomes and include, without limitation, statements regarding the impact of management and board appointments; future performance of management and the board; the Company's operational plans; corporate strategy; and the availability of acquisition opportunities. There can be no assurance that such information will prove to be accurate; actual results and future events could differ materially from such information. Factors that could cause actual results to differ materially include, among others, commodity prices, third party risks, acquisition risks, risks inherent in the oil and gas industry, licensing risks, financing risks, regulatory risks and environmental concerns. Investors are cautioned not to place undue reliance on forward-looking information.

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

Contact Information

  • Vast Exploration Inc.
    Ahmed S. Said
    President & Chief Executive Officer
    (403) 263-3000
    (403) 263-3041 (FAX)