VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/20/13 -- Westbridge Energy Corporation ("Westbridge" or the "Company") (TSX VENTURE: WEB)(FRANKFURT: PUQ1) is pleased to announce the appointment of Mr. Mark W. Monaghan and Dr. M. Ebi Omatsola to its Advisory Board, effective immediately.
Senior Advisor: Mark W. Monaghan
Mark W. Monaghan has been appointed as a member of the Advisory Board of Westbridge. Mr. Monaghan currently serves as a corporate development consultant to Westbridge and has over 20 years of banking and corporate development experience with leading investment banks and several public companies. Over his career, Mr. Monaghan has helped raise over a billion dollars for public companies, primarily in the natural resource industry.
Mr. Monaghan has deep African resource development experience and most recently was a founding Executive Director with former publicly traded company, UNX Energy ("UNX") (TSX VENTURE: UNX), a Namibia-focused offshore oil and gas exploration company. UNX was sold to HRT Participacoes Em Petroleo S.A for US$730 million in 2011 after the company raised more than US$60 million of equity capital to fund the exploration of its deep water offshore block portfolio in Namibia.
Distinguished Advisor: Dr. M. Ebi Omatsola
Dr. Omatsola has over forty years of worldwide oil and gas industry experience and is one of the most renowned African oil and gas explorationists.
Dr. Omatsola began his career as a geologist for Agip (ENI) before joining Shell in 1967. At Shell, Dr. Omatsola was the first African to head the Shell Geological Laboratory in Nigeria and established with others the conceptual model for the development of the Niger Delta basin by Escalator Regression. In 1983, Dr. Omatsola worked in the Sultanate of Oman as Senior Team Geologist and Deputy Team Leader. He subsequently returned to Nigeria and was appointed Head of Exploration, Western Division for Nigeria. During his tenure as Head of this division, Dr. Omatsola led the exploration and development teams that developed the conceptual and depositional models in the Niger Delta, establishing the building blocks of the Niger Delta Sequence and turning around the decline in production in the western Niger Delta by quadrupling discoveries and production from that region and opening up the coastal swamp which culminated in the laying of over 80km of the 20 inch- 24 inch Trans Ramos delivery pipeline. In 1986, he transferred to Shell's worldwide head office in the Netherlands as New Ventures and Area Geologist/Consultant for Africa and the Middle East under which 14 countries, including Namibia, were under his jurisdiction. In 1989, Dr. Omatsola returned to Nigeria and became Chief Geologist for Shell Nigeria. Dr. Omatsola departed Shell in 1989 as Chief Geologist for Nigeria. In each case he established numerous firsts while discovering significant amounts of oil and gas.
In 1990, Dr. Omatsola became pioneer Managing Director/Chief Executive of Consolidated Oil (now Conoil Producing Ltd.), the leading indigenous (local) petroleum exploration and production Company in Nigeria. Under Dr. Omatsola's leadership, Conoil Producing has established an impressive record in the search for, discovery, planning and production of petroleum without any foreign/local technical partner. Conoil Producing is currently the largest net producing indigenous upstream company in Nigeria with 5 blocks and over 25,000bopd in net production (net peak production was over 45,000bopd). Dr. Ebi is currently Group Vice-Chairman of Conoil Producing Ltd.
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