Azabache Energy Inc V.AZA

AZA hires new Geological Advisor

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Azabache Announces Appointment Of A New Geological Advisor

Oct 22, 2014 - 05:45 ET

CALGARY, ALBERTA--(Marketwired - Oct. 22, 2014) -

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Azabache Energy Inc. (TSX VENTURE:AZA) ("Azabache" or the "Company") announces the appointment of Mr. Bill Hogenson as a senior G&G advisor to the president. Mr. Hogenson has over 31 years' experience in the oil and gas industry. He was recently VP Geosciences at Zone Energy, an independent oil and gas company focused on the acquisition, exploitation, and development of oil and gas properties in the US. Before that, he was VP of Exploration for Santos USA. Over his career at Santos, Bill rebuilt the company's exploration capabilities in the United States and developed a North American exploration strategy aligned with Santos Ltd.'s global portfolio initiatives.

Hogenson's other accomplishments at Santos USA Corp. include reviewing assets held by the Company and divesting all low-margin properties in two separate transactions as well as formulating a business unit strategy inclusive of short-term and long-term strategic components. He also completed the acquisition of Esenjay Exploration to provide the Company with an early foothold in US onshore exploration. His previous experience also includes working for Exxon and Amoco in the North Sea, the West Coast of Africa and South America. He was also a team member of Maxus Energy's international new ventures efforts which lead to his appointment to Exploration and Development Manager in Ecuador. Bill holds a Bachelor of Science in Geology from Lamar University in Beaumont, Texas. He has also co-authored technical papers dealing with international exploration on a variety of topics.

Claudio Larotonda, CEO of the Company commented as follows:

"I'm thrilled to have Bill onboard as a member of our Advisory Team; he will add significant creative value to our next challenge, this is the assessment and commercialization of our Vaca Muerta acreage in Argentina.

"The recent third party evaluation of our Vaca Muerta assets following our drilling results demonstrate extensive "oil in place" that provide us clear incentive to continue our growth. Of course, the Company needs to carry out further studies and operations in the field, including drilling more wells, to establish commerciality before reserves can be attributed to these blocks. Mr. Hogenson's years of experience and knowledge recovering oil using unconventional methods will assist us in determining the extent of our oil reservoir and if it is economically recoverable.

"I would like to thank our stakeholders for their support during this exciting time. We look forward to working with the governments of Argentina and industry alliances to progress towards the commercial phase of our assets."

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