Sit tight folks the long awaited fun is just about to start , also note the addition to our JV partners board, a very well respected and experienced addition.
Westchester names Vallance to board
2006-04-13 09:20 ET - News Release
Mr. Kevin O'Connor reports
VICTOR VALLANCE JOINS WESTCHESTER BOARD
Westchester Resources Inc. was informed by its operator and joint venture partner, Aspen Group Resources Corp., that drilling has commenced on phase II of the company's Manitoba development in the Daly field. The well, 8-14-9-28W1, is the first of up to six wells planned to complete phase II of the program. Based on the success of phase II, the rig will continue to develop phase III, which could include up to 17 additional horizontal and vertical wells. Westchester, through the joint venture, owns a 50-per-cent working interest in leases totalling approximately 2,760 acres in the Daley field. Consulting geologists estimate that the leases contain approximately 25 drilling locations, which could support multiple wells on each location. The wells will target the Lodgepole and Bakken formations.
Victor Vallance has joined Westchester's board of directors, subject to regulatory approvals.
Mr. Vallance is a leading energy analyst with over 20 years of experience in the Canadian equity markets. Before becoming a partner and director of energy research at Fraser Mackenzie Ltd., an independent Canadian investment dealer, Mr. Vallance held positions as a director and vice-president of oil and gas equity research at Dundee Securities, and a vice-president of oil and gas research at HSBC Securities, First Boston Canada and Wood Gundy. Prior to his experience as an equity analyst, Mr. Vallance worked as a geophysicist at Chevron Standard in Calgary, Alta. He has obtained his CFA designation, and holds a bachelor of science degree in honours geophysics and an MBA from the University of Western Ontario. Mr. Vallance is a past president of the Canadian Association of Investment Analysts (CAPIA) and is a member of the Toronto Society of Financial Analysts.
"Vic has been involved in the oil and gas industry for over 20 years. His vast array of experience and knowledge will be a tremendous asset to the other members of the board of directors and to the company as it moves forward," stated Kevin O'Connor, president and chief executive officer of Westchester.
Mr. Vallance has been granted 200,000 options, at strike price of 50 cents, for a period of five years.
NewsBlast Sign-Up
StockHouse NewsBlast: Receive company sponsored news and information via email.
« Previous Message
