Canoel has elected Mr. Francesco Zofrea to its Board of Directors. Mr. Zofrea who resides in Italy is currently the Chairman of ENI POWER Spa, the electricity producing arm of ENI, the Italian based oil company, which is one of the world's largest international energy companies. ENI operates in the oil and gas, electricity generation and sale, petrochemicals, oilfield services construction and engineering industries.
Mr. Zofrea began his career at Agip, an ENI subsidiary, 42 years ago and has served in many different roles within the company over the years. He served for 12 years as the Managing Director of Agip Petroli Spa, the largest company within the ENI group and for 10 years he was President and CEO of Enitecnologie S.p.a., the Group's research company, before becoming the Chairman of Eni Power. He has a degree in Chemical Engineering from the University of Rome. Additionally, Mr. Zofrea has been a member of the board of a number of other companies and has been a speaker at many international conventions on various aspects of the oil industry.
Canoel also announces that at its Annual General Meeting on June 23, 2009 Mr. Dario Sodero, a Canadian citizen, was elected to the Board.
The board consists today of James Grossman, Jose Ramon Lopez Portillo, Emmanuel Olympitis, Luigi ( Gino ) Regis Milano, Andrea Cattaneo, Dario Sodero and Francesco Zofrea.
The Company thanks departing directors James Lawson and Steve Paquin for their contributions during the last 12 months.
Andrea Cattaneo, the Company's CEO and President stated, "The Board looks forward to this additional wealth of credibility and experience in the oil sector of both new directors, Dario Sodero and Francesco Zofrea. We are particularly pleased to have Francesco Zofrea joining our Board with his long experience in the oil industry and relations with many key players among the oil majors as well as his contacts in producing countries. Their advice will no doubt be of significant value to our future growth."
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