Experienced and respected investor relations energy executive
TORONTO, Aug. 2, 2011 /PRNewswire/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC) is pleased to announce the appointment of Christopher (Chris) J. LeGallais as the Company's Senior Vice President, Investor Relations, effective September 2, 2011. In this position he will report to both the Chief Executive Officer and the President of the Company.
Chris LeGallais is a highly experienced and respected oil and gas executive with a diverse technical and business background. During the past 13 years, he has held various increasingly senior positions at Talisman Energy Inc. as it grew into Canada's preeminent global O&G Independent. Since 2004, Chris has headed up the Investor Relations Group, building the capacity of the team and function, which is recognized as one of the best in the industry. Prior to Talisman, Chris worked in various senior executive, business development, and geotechnical positions at a number of successful Canadian and international junior and senior energy exploration companies. Chris holds a Master's Degree in Geology from McGill University.
Ronald Pantin, Chief Executive Officer, stated "We are pleased to secure someone of Chris' stature and experience as our investor relations executive. This is a new executive position and represents an important step in the Company's initiative to develop a fully integrated in-house investor relations function. His mandate will be to align external messaging with the operational and technical strengths of the Company, maintaining full disclosure transparency and ensuring a complete understanding of the Company's assets, operations and business attributes within the financial markets."
Chris LeGallais commented, "I am delighted to join Pacific Rubiales, a company I have come to know and respect. It has a record of growth achievement, with an international focus, and has assembled a unique and valuable portfolio of business opportunities. I look forward to working with my new colleagues, senior executives and the Board, and in making a positive contribution to their continuing success in the coming years."
For the past two years, The Capital Lab has provided investor relations services to the Company and will continue to provide advisory and transition services to Mr. LeGallais. Jose Francisco Arata, President of Pacific Rubiales, commented "The Capital Lab has provided outstanding service to our Company, its investors and the analyst community for which we would like to thank them and in particular, its President, Belinda Labatte. They have been, and will continue to be, an excellent resource for the Company."
Pacific Rubiales, a Canadian-based company and producer of natural gas and heavy crude oil, owns 100 percent of Meta Petroleum Corp., a Colombian oil operator which operates the Rubiales and Piriri oil fields in the Llanos Basin in association with Ecopetrol, S.A., the Colombian national oil company. The Company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia as well as in other areas in Colombia and northern Peru. Pacific Rubiales has working interests in 45 blocks in Colombia, Peru and Guatemala.
The Company's common shares trade on the Toronto Stock Exchange and La Bolsa de Valores de Colombia under the ticker symbols PRE and PREC, respectively.
Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 5.7 mcf: 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 Concerning Forward-Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding estimates and/or assumptions in respect of production, revenue, cash flow and costs, reserve and resource estimates, potential resources and reserves and the Company's exploration and development plans and objectives) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from the estimates and assumptions; failure to establish estimated resources or reserves; fluctuations in petroleum prices and currency exchange rates; inflation; changes in equity markets; political developments in Colombia or Peru; changes to regulations affecting the Company's activities; uncertainties relating to the availability and costs of financing needed in the future; the uncertainties involved in interpreting drilling results and other geological data; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 10, 2011 filed on SEDAR at www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE Pacific Rubiales Energy Corp.