Bayou Bend Corporate Update
VANCOUVER, BRITISH COLUMBIA–(Marketwire - Sept. 11, 2009) - Bayou Bend Petroleum (“BBP” or the “Company”) (TSX VENTURE:BBP) is pleased to announce the appointment of the following new board members and senior officers:
John Ashbridge, Vice President Exploration
Mr. Ashbridge is a graduate of the University of Liverpool (UK) where he obtained an Honours degree in Geophysics with Geology, and is a postgraduate of the University of Aberdeen (UK) where he obtained a Masters degree in Petroleum Geology. Mr. Ashbridge has over 20 years experience in oil and gas exploration, development and production having started his career with BP Exploration followed by technical positions with Occidental and Elf Aquitaine (now Total). Since joining the Lundin Group in 2005, he has led efforts to build new business opportunities in the North Sea, Africa and the Middle East, notably resulting in the addition of Africa Oil Corporation to the Group. For the last three years, Mr. Ashbridge has been developing opportunities and establishing contacts for the Lundin Group to invest in Iraqi and other Middle Eastern countries.
Ian Gibbs, Chief Financial Officer
Ian Gibbs is a Canadian Chartered Accountant and a graduate of the University of Calgary where he obtained a bachelor of commerce degree. Ian Gibbs has held a variety of prominent positions within the Lundin Group of Companies; most recently as CFO of Tanganyika Oil where he played a pivotal role in the recent $2 billion acquisition by Sinopec International Petroleum. Prior to Tanganyika Oil, Mr. Gibbs was CFO of Valkyries Petroleum which was the subject of an $800 million takeover.
J. Cameron Bailey, Director
Mr. Bailey is a Chartered Financial Analyst with a Bachelor of Commerce degree from the University of Calgary. He has worked in the energy investment business, specifically investment banking for the past 19 years. Mr. Bailey was a Managing Director of Network Capital; prior thereto he was a Managing Director of Corporate Finance at Peters & Co. Limited, a Calgary based investment firm specializing in oil and gas. He is the founder of, and has organized, the initial public offerings for a number of oil and gas exploration, production and oilfield services companies. Mr. Bailey has assisted in many growing and start-up oil and gas companies by providing advisory services, primarily for mergers and acquisitions. Mr. Bailey presently is President and CEO of Fortress Energy Inc. and also serves on the Board of Directors for Africa Oil Corporation, Pheonix Technology Income Fund and Crystal Lake Resources.
Alexandre Schneiter, Director
Mr. Schneiter is a graduate of the University of Geneva were he obtained a degree in Geology and a masters degree in Geophysics. Since 1993 Mr. Schneiter has worked within the Lundin Group of Companies and is currently Executive Vice President and Chief Operating Officer of Lundin Petroleum AB. As COO, he leads an experienced team of oil and gas professionals who are responsible for Lundin Petroleum’s worldwide exploration and production operations. Over the years, Mr. Schneiter has been instrumental in the discovery of several major oil fields for the Lundin Group, including, among others, in Libya, Sudan and Malaysia. Mr. Schneiter’s technical and operational expertise will be of great benefit to Bayou Bend.
In summary, the board of directors and senior management of the Company are as follows:
J. Cameron Bailey
Keith Hill, President and CEO
Ian Gibbs, Chief Financial Officer
John Ashbridge, VP Exploration
Kevin Hisko, Corporate Secretary
In addition, the Company announces that it has granted an aggregate of 1,375,000 incentive stock options to certain officers, directors and other eligible employees. The options, subject to vesting provisions, are exercisable at a price of $0.67 per share over a period of five years.
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 harbor 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
Chairman and President
Bayou Bend Petroleum