HOUSTON, TX -- (Marketwire) -- 01/21/13 -- EFL Overseas, Inc. (OTCQB: EFLO) ("EFLO" or "the Company"), announces the appointment of H. Wayne Hamal as Chief Operating Officer.
"The addition of Wayne's expertise in the exploitation of large-scale gas projects is perfectly timed," stated EFLO Chief Executive, Keith Macdonald. "We've completed acquisition of a majority interest in the Kotaneelee Gas Project ('KGP'), and are squarely focused on our development and exploration plan. Wayne's history of success in remote project operations and drilling is invaluable. It's precisely the skill set we need to maximize current and future opportunities."
H. Wayne Hamal has over 25 years of oil and gas industry experience with both major and independent oil companies. He was General Manager of Exploration and Production (2008-2011), and Senior Engineering and Drilling Manager (2005-2008), for InterOil Corporation (NYSE-IOC) operating in Papua New Guinea. In that role, he was instrumental in the development of the drilling program for InterOil and was integral to the discovery and appraisal of the Elk/Antelope gas condensate fields. From 2002 to 2005, Mr. Hamal worked for Marathon Oil Company (NYSE-MRO) as Joint Venture Manager, Equatorial Guinea, West Africa, where he worked directly with production operations and major projects primarily involved with the development of the Alba gas condensate field and associated LPG, methanol and LNG plants. Before joining Marathon, Mr. Hamal worked for CMS Oil and Gas (1987-2001) where he held a variety of engineering positions, both domestic and international, including Production Manager Equatorial Guinea, West Africa. Mr. Hamal holds a Bachelor of Science degree in Petroleum Engineering from the Colorado School of Mines.
"I believe the Liard Basin and more specifically the Kotaneelee Gas Project have tremendous potential and establish a strong foundation for EFLO. I look forward to being part of the EFLO executive team," stated Mr. Hamal.
About EFL Overseas, Inc
EFLO is engaged in the acquisition, exploration and development of oil and gas properties in the United States and Canada. During the period from July 18, 2012 through October 17, 2012, EFLO acquired working interests totaling 53.65% (including a 100% working interest in one gas well) in the KGP located in the Yukon Territory in Canada. EFLO believes the KGP has significant conventional and shale gas potential and is supported by an environment of growing investment in gas processing and export in the Pacific Northwest.
The KGP covers 30,542 gross acres in the Yukon Territory in Canada, and includes; a gas dehydration plant (capacity: 70 million cubic feet per day), one gas well temporarily shut in for maintenance, one water disposal well (capacity: 6,000 barrels per day), and two suspended gas wells. The KGP has a fully developed gas gathering, sales and delivery infrastructure, airstrip, roads, flarestack, storage tanks, barge dock and permanent camp facilities.
EFLO is pursuing the acquisition of additional working interests in the KGP.
Forward-Looking Statements: This press release includes forward-looking statements as that term is defined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS
EFL Overseas, Inc.
EFL Overseas, Inc.
1 (403) 246-8443
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