Alange announced the appointment of Mr. Boris Abad Guerra to the Company's board of directors, effective immediately.
Mr. Abad has been in the oil and gas business for over 33 years. He is presently the Executive President of Oil and Gas Project Evaluation and Development at Amazonas Petroleum & Environmental Corporation (AMAPEC). He is also writing a book, in Spanish, entitled "Evaluation, Development and Operation of Oil & Gas Fields".
"Alange is essentially, and shall be, in the foreseeable future, an upstream company. Boris is a well-known and respected executive in the petroleum industry and for many years, has been active in the upstream. It is a blessing to have on the Company's board someone with his depth and understanding of reservoir engineering and production operations," said the Company's Chief Executive Officer, Luis E. Giusti.
Prior to joining AMAPEC, Mr. Abad was a director with the Synergy Group. Throughout his professional career, Mr. Abad has worked in the United States, Colombia, Venezuela, Norway, the United Kingdom, Japan and Ecuador. In Colombia, he was co-founder and Chief Executive Officer of Meta Petroleum and Transmeta and started the development of the Rubiales field. Mr. Abad is a graduate of Pennsylvania State University where he obtained his Ph.D in Petroleum and Natural Gas Engineering.
Mr. Abad joins the board to replace Mauricio Salgar, who recently resigned; the appointment of Mr. Abad remains subject to regulatory approval.
The board of Alange Energy has also initiated a search to identify additional directors to enhance its efficacy and broaden its membership. No timetable has been set for completing this search process and the Company will report any additional appointments when and if they are determined.
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