Canada Energy Partners appoints Nightingale CEO

2021-11-15 16:42 ET - News Release

Mr. Grant Hall reports

CANADA ENERGY PARTNERS ADDS INTERNATIONAL INDUSTRY VETERAN AS CEO TO DRIVE NEXT PHASE OF GROWTH

Canada Energy Partners Inc. today appointed Duncan Nightingale to the position of chief executive officer of Canada Energy Partners. Mr. Nightingale is a proven senior executive with extensive global exposure to all oil and gas operations. Mr. Nightingale joins the existing technical team members Ricardo Chona, VP Geology and Ricardo Peñas VP Engineering.

"The board of directors selected Duncan specifically for his ability to operate international energy assets and provide returns for shareholders," said Grant Hall, CEO of Canada Energy Partners. "Along with Ricardo Chona, our reservoir engineer and Ricardo Peñas, our geologist, we believe we have assembled a top tier international team to work with the Gabonese Government to develop their many brownfield opportunities, as well as target other opportunities in jurisdictions in Africa and Latin America."

Mr. Nightingale has implemented profitable capital programs across all areas of field development, production, and exploration in complex operating environments. Duncan has more than 35 years of corporate and resident in-country experience spanning Latin America, Africa, the Middle East, Russia, and Europe. Recently he held the position of V.P. Development, Reservoir Management, Reserves & Exploration for Frontera Energy (FEC-TSX) and previously held many other senior management positions including in-country manager and President in Colombia for Gran Tierra Energy, and as COO, and in-country manager and President in Qatar and Oman for Encana. He has a proven ability to spearhead complex development projects, increase well productivity, and drive field life extension and reserves additions.

Mr. Nightingale has run operations producing more than 70,000 boepd, consistently achieving more than 100% reserves replacement, lowering operating costs and increasing production efficiency resulting in increased value-add barrels.

Mr. Ricardo Chona brings 30 years of industry experience and an extensive track record of acquisitions and divestitures of E&P assets throughout North and South America. Ricardo is known for his ability to leverage experience and technology to create production optimization opportunities and solutions. He has a proven ability to provide strategic planning and portfolio program management for upstream, onshore, and offshore. Ricardo is an exceptional leader able to build and foster collaborative, results-driven relationships. Mr. Chona has a BS and a MS in petroleum engineering.

Ricardo Peñas has more than 30 years of geological evaluation expertise with major Oil & Gas companies in conventional/unconventional, on/offshore projects in the U.S, Latin America, Caribbean, West Africa, and the North Sea. He is a results-driven and valued contributor in determining and communicating technical project merit, business-focused geological characterization, subsurface risks, and resource volumes. He also has exploration, appraisal and development experience in operated and non-operated joint ventures. Ricardo brings technical leadership with a comprehensive understanding of operational below ground issues and related technology solutions.

Canada Energy is involved in ongoing, detailed negotiations with the Government of Gabon regarding a production sharing agreement concerning the Konzi Field oil development project, a proven, offshore oil resource located in the shallow water near Point Gentil, Gabon.

We seek Safe Harbor.