VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/12/13 -- Westbridge Energy Corporation ("Westbridge" or the "Company") (TSX VENTURE: WEB)(FRANKFURT: PUQ1) is pleased to announce the appointment of Mr. Tosan Omatsola as President, Chief Executive Officer and a member of the Board of Directors, effective immediately.
President and CEO Appointment
Mr. Tosan Omatsola is an exploration and development Geoscientist with over 15 years of experience in the oil and gas industry. He has a broad and extensive international technical background from his experiences with Ivanhoe Energy, Rowena Energy, British Petroleum ("BP"), Texaco (now Chevron) and United Oil and Gas Ltd. Mr. Omatsola has a deep understanding of seismic and subsurface geology related to shallow and deepwater environments, specifically in complex, sub-salt and offshore turbidite environments.
At BP, Mr. Omatsola was integrally involved in the planning, development and execution of numerous world class, shallow and deep water upstream projects in the Gulf of Mexico shelf, Gulf of Mexico Ultra - deepwater, Trinidad and Tobago and the Caspian Sea. Some of his responsibilities at BP included Co-Lead Geologist for appraisal of the largest discovery in the US Gulf of Mexico in 2006 and Lead Development Geologist of the natural gas field with the highest gas production rates in the BP Group in 2005 and 2006. At Texaco, Mr. Omatsola worked on the exploration of the initial group of deepwater oil and gas discoveries in Angola.
In 2008, Mr. Omatsola joined Ivanhoe Capital Corporation ("ICC") as Executive Vice-President: Energy Ventures, providing strategic inputs to ICC and evaluating new oil and gas projects for venture capital and project finance. Mr. Omatsola subsequently joined Ivanhoe Energy as Vice President: Exploration and was involved in Ivanhoe Energy's business development team where he participated in Ivanhoe Energy's capital raising ventures and aided in the appraisal of new oil and gas projects in the Middle East and Sub-Saharan Africa.
In late 2012, Mr. Omatsola joined Westbridge's Advisory Board as Technical Advisor and has been providing strategic and technical inputs to Westbridge on its assets in Namibia and other potential opportunities in Sub-Saharan Africa.
Mr. Omatsola holds a bachelor's degree from the Colorado School of Mines in Geological Engineering with a specialty in minerals and petroleum exploitation and a master's degree from the University of Oklahoma in Geology with a focus on deepwater exploration and development. He is the author of numerous papers on predicting petroleum reservoir quality in offshore environments and a recipient of numerous awards.
Mr. Cody Lee has resigned as President and CEO of Westbridge due to other commitments. On behalf of the Board we thank him for his contribution in helping build Westbridge to this current stage and wish him success in his future endeavors.
Mark Frewin, Westbridge's Chairman, commented, "Westbridge enthusiastically welcomes the addition of Mr. Omatsola as our new President, CEO and a member of the Board of Directors. Mr. Omatsola brings enormous technical and reputable capital markets experience to Westbridge. Mr. Omatsola's unique skill set will be a strategic competitive advantage to Westbridge and will position the Company to advance our assets and work program in Namibia and grow our African asset portfolio in the near to medium term."
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