New VP of Exploration Joins BrazAlta

BrazAlta has announced that Mr. Mark Teare has joined the Corporation as Vice President of Exploration, effective January 12, 2009.

Mr. Teare has 20 years of experience with a number of senior international Canadian energy companies in Brazil, Ecuador, Colombia, Argentina, Australia, and Canada. For the past 8 years, Mr. Teare has held a series of senior management roles at EnCana Corporation, most recently as Country Lead for Brazil. Mr. Teare played an active role in EnCana's exploration success in recent ultra deep water pre-salt discoveries in offshore Brazil. Prior to his position in Brazil, Mr. Teare was Vice President of Exploration and Joint Ventures for EnCana's assets in Ecuador. Mr. Teare also held a variety of lead technical roles at Alberta Energy Company in Australia, and Home Oil Company in Argentina and Canada. Mr. Teare holds a Master of Science degree in Geology from McGill University, and will be based in the Corporations head office in Calgary.

Charle Gamba, President and CEO of the Corporation, commented, "Mark's familiarity with the energy industry in South America brings important technical leadership and experience to the senior management team. In particular, his knowledge of government and industry practices gained through EnCana in Brazil brings a vital component of expertise to help the Corporation achieve its growth plans in that country."

Mr. Teare will replace Mr. Arthur Halleran, who is leaving the Corporation to pursue other career opportunities. The corporation wishes to thank Mr. Halleran for his contributions to BrazAlta.


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