VANCOUVER, British Columbia, July 18, 2011 (GLOBE NEWSWIRE) — Crown Oil and Gas Inc. (“Crown” or the “Company”) (Pink Sheets:CWOI) announces that effective July 3, 2011 Stanislav Bogomolov was replaced as CEO by Kairat Sydykov.
Mr. Sydykov brings over 30 years of international experience in oil and gas exploration. His posts included Director of Seismic Technology with TNK-BP, a BP subsidiary in Russia, from September 2003 to September 2007. He was Manager of the Seismic Department of TNK in Moscow from April 2002 to August 2003.
Mr. Sydykov has published numerous scientific papers in leading international magazines including Oil and Gas Journal. He is a member of the European Association of Geoscientists and Engineers (EAGE), Geophysical Society of Kazakhstan, Society of Exploration Geophysicists (SEG), USA and Eurasian Geophysical Society (EAGO), Russia. Mr. Sydykov also served as a Director of the European Association of Geoscientists and Engineers (EAGE) from 2005 to 2007.
Mr. Sydykov graduated with a Master of Science – Geophysics in 1976 from the Kazakh Polytechnic University in Almaty, Kazakhstan. He received his PhD in Geophysics in 1986 from the Gubkin Oil and Gas University in Moscow, Russia.
Stanislav Bogomolov, Jean-Yves Mallat and Alex Polevoy are the current Directors of the Company.
Crown Oil and Gas Inc. is an independent oil and gas company focused on enhancing shareholder value by acquiring and developing oil and gas assets in Russia. Crown holds, through its subsidiaries, exploration and development licenses located in the Saratov region of Russia, one of the major oil and gas regions in the country with advanced infrastructure and more than 60 years history of oil and gas production. Saratov lies in the European part of Russia on the border with Kazakhstan, the largest oil producing country in Central Asia. Crown’s licensed areas comprise approximately 2000 km2.
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
CONTACT: Alex Polevoy
apolevoy@hotmail.com
http://bit.ly/qLvSkl
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