VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / Mar. 5th, 2014) / Terra Nova Energy Ltd. ("Terra Nova" or "Company") (TSX:V - TGC and OTCQX - TNVMF) is pleased to announce today that Mr. Carlo Civelli & Mr. Jock McCracken have agreed to join Terra Nova's advisory committee.
Mr. Henry Aldorf, Acting CEO and Chairman of the Board, stated: "Terra Nova is delighted that Mr. Carlo Civelli and Mr. Jock McCracken have both agreed to join the advisory committee. Both of them have a wealth of knowledge, experience, and success in the oil and gas industry from around the world. With the additions of Mr. Mark Jarvis and Mr. Lyle Davis to our board of directors and now Mr. Carlo Civelli and Mr. Jock McCracken as senior advisors, we've been successful in assembling a very capable management/advisory team and are extremely excited about the future of Terra Nova."
Mr. Civelli was the founder of Zurich based Clarion Finanz AG and has over 30 years of experience in the venture capital and natural resources sector. During that time, Clarion Finanz AG financed hundreds of companies, mainly mining and oil and gas explorers, and at least a dozen of these early stage investments developed into ~ billion dollar market cap companies which are still listed, while others have been taken over by resource Majors. Mr. Civelli also founded Pacific LNG Operations Ltd. in 2005 which on February 25, 2014, sold its 22.8% interest in a gas field in Papua New Guinea, developed jointly with InterOil Corporation (NYSE: IOC), to Oilsearch Ltd. for $900M plus further contingent payments
A Swiss national, resident of Singapore, Mr. Civelli's expertise lies in the area of international financing, primarily resource ventures. Mr. Civelli's private holding company has made large investments in several listed companies during the past few years and after the large transaction above will now be able to dedicate more management time to these companies.
Mr. McCracken is a geological exploration specialist with over 33 years of experience that includes basin evaluation, play assessment and ranking, well locating and planning and then reserve evaluation and calculation. This work, onshore, offshore and international, has been located in six continents. He spent 16 years with Mobil Oil Canada and UK resulting in hydrocarbons being discovered in all the basins he was assigned to with notable results.
Petro-Canada recruited him in 1997 to evaluate prospects in the Jeanne d'Arc Basin, Flemish Pass, Central Ridge, Salar Basin, Labrador Sea, Scotian Shelf, Alaska and all the Shale Basins of North America. During his last five years in the New Ventures Team his expertise in shale and source rocks was used to high grade areas for further interest. After early retirement from Suncor/Petro-Canada in Sept of 2009, he formed his own company, Egret Consulting, where he's been utilizing his geological strengths and research skills, as well as his diverse experience, to understand and evaluate new basins quickly around the world.
Mr. McCracken's professional memberships include: Canadian Society of Petroleum Geologists (CSPG), American Association of Petroleum Geologists (AAPG), Association of Professional Engineers and Geoscientists of Alberta (APEGA) and Energy Minerals Division (EMD). He has been a Canadian shale liquids and gas committee member and Canadian Councilor for the EMD since 2006 and 2009, respectively.
Mr. Jock McCracken states "I am very excited to have the opportunity to work with the seasoned management team and board of directors of Terra Nova Energy. It will be my goal to assist the company in not only developing the current asset but also in identifying new opportunities in the oil and gas sector."
About Terra Nova Energy Inc.
Terra Nova Energy Ltd. is a Vancouver based Oil and Gas Company. The exploration and development company currently holds exploration prospects in the prolific Cooper Basin in Southern Australia. The Cooper/Eromanga Basin is the country's largest producing onshore basin.
To learn more about Terra Nova and be added to the news distribution list, visit the website at www.terranovaenergyltd.com and send your email address to [email protected]
On Behalf of the Board,
Nico Civelli, Director & VP Finance
FOR FURTHER INFORMATION PLEASE CONTACT:
Rob McMorran OR Nico Civelli
Chief Financial Officer VP Finance
T: 604-806-0626 ext. 101 T: +41 44 217 4804
Email: [email protected] Email: [email protected]
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
FORWARD LOOKING INFORMATION
This news release contains forward-looking information relating to Terra Nova's intentions to conduct the seismic program and subsequent drilling programs and other statements that are not historical facts. Such forward-looking information is subject to important risks and uncertainties that could cause actual results to differ materially from what is currently expected, for example: risks related to oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, competition from other producers, inability to retain drilling rigs and other services, reliance on key personnel, and insurance risks. Findings by other oil and gas issuers do not necessarily indicate that Terra Nova will be successful in making such findings in the Cooper Basin, South Australia. In making such forward-looking statements, Terra Nova has relied upon certain assumptions relating to geological settings, commodity prices, the stability of markets and currencies, the availability of capital, and Terra Nova's ability to continue with the seismic and drilling programs. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Terra Nova may elect to, Terra Nova is under no obligation and does not undertake to update this information at any particular time, except as required by applicable securities law.