Wolf Petroleum Ltd : Board Changes
01/03/2013| 02:34am US/Eastern
ASX CODE: WOF, WOFO
3 JANUARY 2013
WOLF PETROLEUM LIMITED
ACN 116 249 060
33 Richardson Street
West Perth WA Australia
Tel: +61 8 9200 4428
Fax: +61 8 9200 4469
Brian McMaster Matthew Wood Tim Flavel
Jason Peterson Bataa Tumur-Ochir George Tumur
261.8 million shares
13.5 million listed options
11.2 million unlisted options
Wolf Petroleum Limited ("Wolf" or "the Company") is very pleased to announce the appointments of Mr George Tumur, Mr Bataa Tumur-Ochir, Mr Jargalsaikhan Dambadarjaa and Mr Jason Peterson as Directors. Mr Tumur has been appointed joint Chairman and Mr Tumur-Ochir has been appointed Chief Executive Officer. Mr Dambadarjaa and Mr Peterson have been appointed as Non-Executive Directors.
The newly appointed directors have outstanding international industry experience and critically for Wolf, this experience includes a strong proven capability in the resources sector in Mongolia, especially in exploration and development.
Mr Tumur is a Mongolian citizen and has a Masters of Science in Mining Engineering and a Bachelor of Science in Metallurgical Engineering from the Colorado School of Mines, as well as a Technical degree in Mineral Processing. Mr Tumur has worked in senior management positions for various Mongolian mining companies, and most notably was the Managing Director of highly successful, formerly, ASX listed Hunnu Coal Limited. Mr Tumur has an intricate understanding of the mining and legal landscape in Mongolia and has been one of the leaders in introducing western contract mining and mineral processing technologies into the Mongolian mining industry. Mr Tumur is also a founding director of Wolf Operations Limited (formerly Wolf Petroleum Limited).
Mr Bataa Tumur-Ochir is a Mongolian citizen and has served as Wolf
Operations Limited's Chief Operating Officer since its incorporation in
2010 and was appointed as an Executive Director in August 2011. Mr Tumur-Ochir is responsible for new business acquisitions, development and government and community relations. Mr. Tumur-Ochir is responsible for daily operations in Mongolia. Under his guidance Wolf Petroleum was awarded with the "Operator of the Year Award" from the Petroleum Authority of Mongolia, and today, Wolf Petroleum is recognised as the fastest growing petroleum exploration company in Mongolia. Mr Tumur-Ochir holds a bachelor's degree in business administration and graduate certificates in international business and marketing from Australia and Singapore.
Mr Jargalsaikhan Dambadarjaa is a Mongolian citizen, economist and management consultant, specialising in financial markets, banking, marketing, strategic planning and competitiveness. Mr Jargalsaikhan Dambadarjaa has extensive experience working in investment and commercial banking, financial, tourism and petroleum companies.
ASX CODE: WOF, WOFO
He has worked in government and non-government organizations. His previous positions have included; CEO of XacLeasing Company, CEO of Capital Bank, Chairman of a government agency (FIFTA), Deputy Director of Juulchin Company and Economist at National Petroleum Authority. Mr Jargalsaikhan Dambadarjaa writes a weekly column for daily national newspapers and conducts weekly television interviews. He received a diploma in Economics from the Moscow State University (Russia) 1984 summa cum laude; and MBA degree specialized in finance from the Daniel's School of Business University of Denver (USA) in 2002.
Mr Peterson has more than 16 years of experience in the financial advisory sector, which he obtained by working in both local and international stockbroking companies such as Patersons, Tolhurst, and Merrill Lynch. Mr Peterson specialises in corporate structuring, capital raisings, corporate and strategic advice to small and medium size companies and reverse takeovers. Mr Peterson is a Senior Client Advisor, Di-rector and one third shareholder of stockbroking firm, CPS Securities.
In addition to these appointments, the Board has been restructured with Mr Matthew Wood now undertaking the role of Executive Chairman. The previous Executive Chairman, Mr Brian McMaster will remain on the Board as a Non-Executive Director
These appointments will not only add invaluable expertise and diversity to the Company, they will also greatly assist Wolf in its primary objective of becoming a significant player in a new and rapidly growing multi- billion dollar Mongolian oil industry.
In a short period of time Wolf Petroleum has become the largest petroleum exploration acreage holder in Mongolia with over 74,400 km2 (over 18 million acres). The Company was awarded as "The Operator of the Year" in 2011 from the Petroleum Authority of Mongolia and has become the first ASX listed company with petroleum assets in Mongolia.
The Company will soon commence its 2013 exploration programmes and regular updates will be provided.