Bayou Bend Appoints Mr. Pradeep Kabra as Chief Operating Officer
VANCOUVER, BRITISH COLUMBIA–(Marketwire - Oct. 1, 2009) - Bayou Bend Petroleum (“Bayou Bend” or the “Company”) (TSX VENTURE:BBP) is pleased to announce the appointment of Mr. Pradeep Kabra as Chief Operating Officer of the Company.
Mr. Kabra has over 22 years experience in the oil industry including senior operational and international new venture management positions at Addax Petroleum, Lundin Oil and International Petroleum. He is a Chartered Accountant from India and has a Bachelors degree in Law from the University of Delhi, India. He has also completed his LLM in Petroleum Law and Policy from the University of Dundee, UK.
Prior to his joining Bayou Bend Petroleum, Mr. Kabra was working as the General Manager Kurdistan in Addax Petroleum and was involved in the development of the Taq Taq field. He was also the director of Taq Taq Operating Company Limited, the operator of the Taq Taq / Kewa Chirmila PSC in Kurdistan.
Keith Hill, President of Bayou Bend, commented, “I am very pleased to have Mr. Kabra join our team. He brings invaluable experience and expertise to the Company. He was a key player in the success of Addax Petroleum in Kurdistan. Addax was recently taken over by Sinopec in a $8 billion dollar deal. I have known Pradeep for many years since his days with International Petroleum and he has always brought exceptional skill, dedication and energy to his endeavours. I very much look forward to working with him again as we build Bayou Bend (soon to be called ShaMaran Petroleum) into a leading Kurdistan focused oil company.”
The Company also announces that it has granted an aggregate of 710,000 incentive stock options to certain officers, directors and other eligible employees. The options are exercisable, subject to vesting provisions, over a period of five years at a price of $0.64 per share.
This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company’s capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
On behalf of the Board
Keith C. Hill, President Bayou Bend Petroleum Ltd.
Chairman and President
Bayou Bend Petroleum Ltd.
(604) 689-4250 (FAX)