(TheNewswire)
Vancouver, B C - TheNewswire - April 4, 2023- G2 Energy Corp. (CSE:GTOO ) ( FWB:UD9) (the"Company" or "G2") ispleased to announce that the Board of Directors has appointed David Whitby , presently a Director and President of the Company, as President and active ChiefOperating Officer , and Gabriel Monteiro Queiroz , presently a Director of the Company,as Chief FinancialOfficer . announces today that, the board ofdirectors (the " Board ") The Company has accepted theresignation of James Tague as Chief Operating Officer and Director andOleg Scherbina as Interim Chief Financial Officer, effective as ofMarch 31, 2023. In light of Mr. Tague and Mr. Scherbina'sresignations, The Company wishes to thank Mr. Tague and Mr. Scherbinafor their services during their tenure , andnotes that Mr. Scherbina will still work for theCompany in the position of internal auditor.
As outlined in the December 24, 2021 news release, Mr.Whitby is a senior executive with 40 years of industry experience inthe oil and gas sector. Mr. Whitby is well known in South East Asia,Australia, and Canada with broad experience, who has been relied uponto successfully manage complex situations, having worked for 14 yearswith Husky in Canada and 12 years for Gulf Canada / ConocoPhillips inIndonesia and Australia. Mr. Whitby grew up in Swift Current,Saskatchewan and studied mechanical engineering at the Royal MilitaryCollege of Canada, and served in the Base Engineering Unit at CFBCalgary before joining Husky Oil as a field engineer in Lloydminster.After a stint in the Husky’s reservoir group, Mr. Whitby packed upthe family and moved to Indonesia. Upon returning from Indonesia, hewas promoted to Vice President of Husky’s Heavy Oil Group. Themajority of his career has been focused on monetizing gas reserves inIndonesia, having successfully closed 5 major gas supply contracts inIndonesia, where he pioneered the modern-day gas industry. He is alsothe former President & CEO of ASX-listed Nido Petroleum. Through aseries of partnerships and land acquisitions, Nido Petroleum gainedcontrol of the offshore NW Palawan basin in the Philippines. Thepreviously stranded Galoc oil field was brought on-stream and anexploration portfolio generating 60+ drillable prospects was built.Under his leadership, the Nido Petroleum raised more than A$100million through fresh equity and convertible debt. The share price ofthe company rose from $0.016 cents in 2004 to $0.62 cents in 2008,resulting in a market cap in excess of A$600 million to become an ASX200 company.
Mr. Queiroz possesses a solid background in finance andeconomics, including corporate finance experience. His experience inthe energy industry includes consultant roles for major publiccompanies in the oil & gas industry in South America and theMiddle East, and roles as Business Development Manager and acommodity trader in the North American market. He holds a Master of Arts in Economics from theUniversity of Missouri, a Master of Business Administration in AppliedFinances from PUC Minas, Belo Horizonte, MG, Brazil, and a Bachelor ofEconomics from UFJF, Juiz de Fora, MG, Brazil. His experienceworking for Deloitte Touche Tohmatsu in Rio de Janeiro, Brazil willassist him in his new position.
Additionally, the Board has added Mr. Markus Mair as anindependent Director, and as a representative of the Company'sEuropean shareholders. Mr. Mair holds a Diploma in InternationalBusiness Administration from the University of Applied Sciences,Furtwangen, has more than 30 years of experience in the banking andfinance industries, has been an active investor in the resourceindustry for over 15 years, and is currently the founder and CEO of aprivate investment company in Germany. He is also one of the Company'sten largest shareholders.
Slawek Smulewicz stated: “ After overcoming our recent challenges wehave emerged stronger and more importantly leaner. Our focus is now oncapital efficiency and ramping up production on the Masten Unit inorder to build back shareholder value and execute on our pipeline ofopportunities.”
On Behalf of the Board,
" SlawekSmulewicz "
Slawek Smulewicz
CEO
For further information, please contact
John Costigan
VP Corporate Development
O: +1 778 7754985
W: WWW.G2.ENERGY
About G2 Energy Corp.
G2 is a junior oil and gas producer listed on the CSEexchange. Its primary focus is to acquire and develop additionaloverlooked, low risk, high return opportunities in the oil and gassector. G2's strategy is to obtain a portfolio of risk-managedproduction and development opportunities onshore, U.S.A. In May 2022,G2 acquired the Masten Unit in the Permian Basin, Texas. The MastenUnit is the Company's first producing asset. G2 is targeting top tierprojects with operating netbacks and infrastructure facilities whichwill fast track overall oil and gas production growth.
The Canadian Securities Exchange hasneither approved nor disapproved the information containedherein.
Forward Looking StatementsCaution
Statements in this press releaseregarding the Company which are not historical facts are"forward-looking statements" that involve risks anduncertainties. Such information can generally be identified by the useof forwarding-looking wording such as "may","expect", "estimate", "anticipate","intend", "believe" and "continue" orthe negative thereof or similar variations. Since forward-lookingstatements address future events and conditions, by their very nature,they involve inherent risks and uncertainties. The Company providesforward-looking statements for the purpose of conveying informationabout current expectations and plans relating to the future, includingexpectations regarding the Company's ability to meet its outstandingobligations, and readers are cautioned that such statements may not beappropriate for other purposes. By its nature, this information issubject to inherent risks and uncertainties that may be general orspecific and which give rise to the possibility that expectations,forecasts, predictions, projections or conclusions may not prove to beaccurate, that assumptions may not be correct and that objectives,strategic goals and priorities may not be achieved. These risks anduncertainties include but are not limited to those identified andreported in the Company's public filings under the Company's SEDARprofile at www.sedar.com. The Company's ability to meet itsoutstanding obligations could differ materially from those currentlyanticipated due to factors such as: the performance of facilities andpipelines, commodity prices, price volatility, price differentials andthe actual prices received for the Company's products, royalty regimesand exchange rates, the availability of capital, labour and services,the creditworthiness of industry partners, G2's ability to acquireadditional assets, unexpectedincreases in operating costs, and risks associated with potentialfuture lawsuits and regulatory actions made against the Companyincluding but not limited to being found in default of the Company'sobligations to Cloudbreak under the Agreement. Although the Companyhas attempted to identify important factors that could cause actualactions, events or results to differ materially from those describedin forward-looking information, there may be other factors that causeactions, events or results not to be as anticipated, estimated orintended. There can be no assurance that such information will proveto be accurate as actual results and future events could differmaterially.
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