Azabache Appoints Board Member, Commences 2D Seismic
Azabache Energy announced the appointment of Luis Miguel Morelli to the Company's Board of Directors. Mr. Morelli has over 20 years of experience in the Colombian oil and gas industry having worked for Ecopetrol, Colombia's National Oil Company and Occidental de Colombia, Inc., Occidental Petroleum's Colombian subsidiary. Mr. Morelli spent four years in public office in Colombia as Governor of the Department (province) of Norte de Santander where his term ended in December 2008. Since 2008, Mr. Morelli has been an advisor to the oil and gas and mining industries in Colombia. He is a director of Alange Energy Corp., a TSXV listed Canadian-based oil and gas exploration and production company with working interests in 12 properties in Colombia and daily production of 5,000 bopd and he served as a director of Solana Resources Limited, an international resource company.
Claudio Larotonda, President & CEO commented, "We are very fortunate to have Luis Morelli join the board of Azabache. His extensive oil and gas experience and local Colombian knowledge will be very helpful to Azabache as the Company pursues its business in Colombia and elsewhere in South America."
In other news, the Company announced that the 2D seismic program to acquire 50 line-kilometers of data has commenced. The acquisition of seismic is a requirement under the TEA (Technical Evaluation Agreement) and also forms part of the alliance between the Company and Trayectoria Oil and Gas S.A. as announced on November 25, 2009. GeoEnergy Ltda. the seismic contractor, estimates the completion of the program on or before February 22, 2010.