TSX-V: ORC.A, ORC.B
TORTOLA, British Virgin
Islands, April 16, 2012
/PRNewswire/ - Orca Exploration Group Inc. ("Orca" or the
"Company") announces that Beer van Straten has been named Chief
Operating Officer effective immediately. He will assume
responsibility for the Company's field operations including a large
scale development and exploration drilling program in Tanzania. He replaces Dale Rollins who resigned as Chief Operating
Officer in March 2012.
In making the appointment announcement Orca
Chairman and CEO W. David Lyons
said, "We are very fortunate that Beer van Straten has agreed to
become Orca's Chief Operating Officer. He brings extensive
large scale drilling and operations experience to our team in
Africa."
Orca is currently drilling a development well
(SS-11) on Songo Songo Island in
Tanzania and, subject to funding,
plans to drill a second development well (SS-12) later this
year. This development drilling program is intended to
increase Songo Songo gas production
from 113 MMcfd to over 200 MMcfd. Additional gas production
is urgently needed to meet current and future power generation
demand in Tanzania. In addition to
the two development wells the Company has announced plans to drill
an exploration well at Songo Songo West.
Beer van Straten
is a senior international oil and gas industry executive with over
20 years of high level exploration, production and commercial
experience in the North Sea, Middle
East and Africa. He has
been associated with Orca since June
2010 when he joined Orca's Board of Directors. Beer
van Straten began his career with
Shell in 1988 and worked across North
Africa managing operations for Shell and other oil and gas
operators. Prior to his work with Orca he managed an
aggressive five-rig drilling program for Dana Gas in Egypt that led to doubling their reserves and
raising production by 50% managing a staff of 800 and 400
contractors.
Beer van Straten
studied at Delft University of Technology where he graduated with a
MSc. in Mechanical Engineering.
Orca Exploration is an international public
company engaged in natural gas exploration, development and supply
in Tanzania and oil and gas
appraisal in Italy. Orca
Exploration trades on the TSXV under the trading symbols ORC.B and
ORC.A.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
This document contains forward-looking
statements. More particularly, this document contains statements
concerning, but not limited to, Orca's plans to drill a second
development well and the timing thereof; the expected increase to
Songo Songo gas production as a
result of the development drilling program; and the Company's plans
to drill an exploration well at Songo Songo West. These
forward-looking statements involve substantial known and unknown
risks and uncertainties, certain of which are beyond Orca
Exploration's control, including, but not limited to, the impact of
general economic conditions in the areas in which Orca Exploration
operates, civil unrest, industry conditions, changes in laws and
regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified
personnel or management, fluctuations in commodity prices, foreign
exchange or interest rates, stock market volatility, competition
for, among other things, capital, drilling equipment and skilled
personnel, and obtaining required approvals of regulatory
authorities. In addition there are risks and uncertainties
associated with oil and gas operations, therefore Orca
Exploration's actual results, performance or achievement could
differ materially from those expressed in, or implied by, these
forward-looking estimates and, accordingly, no assurances can be
given that any of the events anticipated by the forward-looking
estimates will transpire or occur, or if any of them do so, what
benefits, including the amounts of proceeds, that Orca Exploration
will derive therefrom. Such forward-looking are based on certain
assumptions made by Orca in light of its experience and perception
of historical trends, current conditions and expected future
developments, as well as other factors Orca believes are
appropriate in the circumstances, including, but are not limited
to, the ability of Orca to add production at a consistent rate;
commodity prices will not deteriorate significantly; the ability of
Orca to obtain equipment in a timely manner to carry out
exploration, development and exploitation activities; and future
capital expenditures. The forward-looking statements contained in
this press release are made as of the date hereof and Orca
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
SOURCE Orca Exploration Group Inc.