CALGARY , April 11, 2013 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or “the Company”) (YGR.V) announces the appointment of Lorne Simpson, as Vice President, Operations.
Mr. Simpson has over 30 years of drilling and completions experience. Most recently, Mr. Simpson held the position of Manager of Drilling and Completions at Yangarra. Prior to that Mr. Simpson was Supervisor, Drilling Operations with PetroBakken Energy Ltd and has held various other senior level roles in his career. Mr. Simpson has experience in the Western Canadian Basin, North Slope Alaska and offshore deep water Gulf of Mexico. He has engineered, drilled or completed 250 HZ Cardium wells, 200 HZ Bakken wells, 2 HZ Duvernay wells, 25 HZ Montney wells, and dozens of Blue Sky, Viking, SWS, Glauc, and Rock Creek HZ wells. Mr. Simpson has completed a Bachelor of Science degree (Honors) in Business Management and has a Petroleum Engineering Technology diploma.
James Evaskevich, President and CEO, commented “In the eight months that Lorne has been working for Yangarra he has redefined the drilling and completion operations of the Company, significantly reducing both costs and drill times and has given Yangarra a distinct competitive advantage in well economics when compared to other industry players. Lorne believes in the continuous improvement for all operations and is very passionate about delivering results and executing the program.”
Yangarra also announces it has granted options to purchase 1,905,000 common shares at an exercise price of $0.30 per share, pursuant to its stock option plan. All the options vest immediately and will expire on April 10 , 2017. Officers and directors were granted options on 1,400,000 shares and the balance of the options were issued to employees and consultants.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
SOURCE: Yangarra Resources Ltd.
James Evaskevich, President & CEO, at (403) 262-9558.