VANCOUVER, April 27, 2015 /CNW/ - Coronado Resources
Ltd. (TSX-V: CRD) and (OTCQX:
CRDAF) is pleased to announce that Mr. Frank Jacobs, an internationally experienced oil
and gas executive, has joined the Board of Directors of the
Company.
Mr. Jacobs holds a B.Sc. Chemical Engineering degree from the
Higher Technical College in Breda,
Netherlands, as well as a M.Sc. Chemical Engineering degree,
Major in Petroleum Engineering, from the University of Calgary. Mr. Jacobs has more than
thirty-five years of experience in the oil and gas industry that
includes operations management from concept select to full field
development, acquisitions and development of existing oil and gas
production. Mr. Jacobs has extensive experience as a director and
senior executive of public companies in Canada, Australia and the USA.
Mr. Jacobs has worked in Australia, North and South America as well as SE Asia and is responsible for numerous oil
and gas production acquisitions. Most recently, Mr. Jacobs was
based in Kuala Lumpur leading the
technical team and project funding for the $135 million Ophir oil field development offshore
Malaysia.
Coronado's Board now consists
of Hugh Rogers, Ashley Garnot, David
Loretto, John Vaccaro and
Frank Jacobs.
The current low oil price scenario has created opportunity and a
healthy entry point and Coronado
is aiming to move into the upstream oil and gas business through
the acquisition of a suitable production project. TAG Oil Ltd.
(TSX: TAO), with operations and approximately 2,000 BOE/D oil and
gas production, is a 49% shareholder in Coronado.
Neither 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 release.
BOEs:
TAG Oil has adopted the standard of six
thousand cubic feet of gas to equal one barrel of oil when
converting natural gas to "BOEs." BOEs may be misleading,
particularly if used in isolation. A BOE conversion ratio of 6Mcf:
1 Bbl is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value
equivalency at the wellhead.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not
historical facts are forward-looking statements that involve
various risks and uncertainty affecting the business of
Coronado. Such statements can
generally, but not always, be identified by words such as
"expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "schedules", "prepares", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Forward-looking statements and information concerning the
review of all assets of the Company are based on
management's assumptions using information currently available and
include Coronado's expectations
regarding its business. In making the forward-looking statements in
this news release, Coronado has
applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado's current beliefs and assumptions
made by Coronado. Although
Coronado considers these beliefs
and assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Although Coronado has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. Coronado does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE Coronado Resources Ltd.