Vancouver, BC / ACCESSWIRE / July 21, 2014 / Oyster Oil and Gas Ltd. ("Oyster" or the "Company") is pleased to announce the appointment of Greg Turnbull to its Board of Directors.
Greg Turnbull, QC is a partner with McCarthy Tétrault. During his career, he has dealt with all aspects of a public company's creation, growth, and value maximization. He has experience in corporate finance and securities transactions, including public and private share and debt financings, takeover bids, initial public offerings, business combinations and international stock exchange listings. He provides advice on various corporate finance transactions and has been actively involved in the initial public offerings of more than 40 companies. In particular Mr. Turnbull has extensive experience of the international oil and gas sector.
The Company has also accepted the resignation of Dorian Banks as director.
Michael Wood, President and CEO commented: "Oyster would like to thank Dorian Banks for his service and contribution to the Company and we wish him well for the future. Oyster is happy to welcome Greg Turnbull to the Board of Directors. Greg and I have worked together over a number of years and I know that his many years of experience and breadth of knowledge will bring a great deal to the Company and the Board."
In addition, Oyster announces the issuance of 50,000 incentive stock options to purchase common shares of the Company to a director exercisable at a price of $0.50 per share and shall expire on July 21, 2019. The stock option grant is subject to filing with the TSX Venture Exchange.
About Oyster Oil and Gas Ltd.
Oyster is an oil and gas exploration company with a focus on eastern Africa. Oyster holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar. Oyster holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; and has an working interest in an onshore block in Madagascar covering approximately 2.8 million acres.
For further information please contact:
Martin Bajic, Chief Financial Officer
Tel: (604) 628-5621
Fax: (604) 662-7950
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Oyster Oil and Gas Ltd.