Honourable Otto Jelinek joins Passport Energy as MJanuary 11, 2011 - Passport Energy Ltd. (CNSX: PPO) (the "Company") is pleased to announce that the Honourable Otto Jelinek has joined the Company as Managing Partner, with responsibility for corporate and financial affairs in Europe. Mr. Jelinek served as a Minister in several Canadian governments, including Minister for National Revenue for Canada from 1989 to 1993 and Minister of State for Sport during the 1988 Winter Olympics held in Calgary, Alberta. He is a former World Figure Skating Champion and a member of Canada's Sports Hall of Fame.
After retiring from politics in 1993, Mr. Jelinek returned to the Czech Republic to form Jelinek International and promote trade, investment and business opportunities in his homeland. In 1996, he became Chairman of Deloitte and Touche Czech Republic and later took on additional responsibilities as Office Managing Partner and Chairman of Deloitte and Touche Central Europe. In 2007, Mr. Jelinek was appointed Chairman of Colliers International, CEE Region. He has also served as a Director on the Boards of several publicly traded resource companies based in Canada.
"Mr. Jelinek has an impressive CV, with many achievements in sports, government and as a respected businessman and corporate leader in the private sector," said Frank Port, President. "We are delighted that he will contribute his diverse talents to the growth of Passport Energy in the months and years ahead."
The Company is a junior natural resource exploration company focused on the acquisition, exploration, and development of economically viable natural resources, with a focus on Bakken oil and gas projects. The Company currently owns 60% of 43,584 gross acres of oil and gas leases in "The SweetGrass Arch" Prospect located in Toole and Pondera Counties, Montana. The SweetGrass Arch prospect has significant gas potential as well as Bakken oil potential. The Company also has signed a letter of intent allowing it to earn a 25% interest on up to two wells and associated acreage in the Hardy Bakken Field in south-eastern Saskatchewan. The Company continues to seek additional oil and gas properties.
The Company Trades on the CNSX under the trading symbol "PPO".
The CNSX does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please refer to the Company's engineering report available on SEDAR (
www.sedar.com).
For further information contact:
Frank Port
President, Chief Executive Officer, and DirectorTel: 604-805-9999
E-mail: fport@passportenergy.com
Website:
www.passportenergy.comVisit Passport Energy Ltd. Website: www.passportenergy.com