Oracle Energy Corp. announces that Mr. Art Green had been appointed to the Board of Directors and will also serve as Oracle Energy's Chief Operating Officer.
Mr. Green graduated from the University of Saskatchewan with a B.Eng in mechanical engineering in 1970. He has more than 32 years of experience in the oil and gas industry and has lived and worked in Canada, the USA, Indonesia, West Africa and Russia. He has held various positions with Mobil, Exxon Mobil and Hess. His early career was focused on field engineering, operations and construction management. He was the senior executive for Mobil in Equatorial Guinea, West Africa during the early negotiation, exploration and development programs and for Hess in Russia during the initial exploration programs.
Oracle Energy Corp. has granted 1,800,000 stock options at a price of $0.15 per share to insiders, employees and consultants to the Company, subject to regulatory approval. 1,600,000 stock options were granted to insiders and employees for a five- year term and 200,000 stock options were granted to consultants for a two- year term. Any shares issued on the exercise of stock options will be subject to a four month hold period from the date the options were granted.
Oracle Energy has a diversified portfolio of oil and gas interests in Romania, the USA and Italy.
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