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John van
der Welle Joins the Board of Groundstar Resources
07-22-2008
Kam Fard, Chief Executive Officer
and Chairman of the Board of Directors of Groundstar Resources Limited announces
the appointment of John van der Welle to the Board of Directors of the Company.
Mr. van der Welle has been actively involved in the oil industry for twenty-five
years. He began his career in auditing and oil tax consultancy with Arthur
Andersen LLP. In 1984 he joined Enterprise Oil plc, the largest independent
exploration and development company in the U.K., where he rose to the position
of Group Treasurer. Mr. van der Welle later served as Finance Director of Hardy
Oil and Gas plc and Premier Oil plc. In addition, he has served as Chief
Financial Officer and Director of First Calgary Petroleums Limited and as Head
of Oil and Gas in the Sector Corporate Finance Group for the Royal Bank of
Scotland. Most recently, he has joined Stratic Energy Corporation as Chief
Financial Officer and Director.
Throughout his career Mr. van der Welle has had extensive experience in many
corporate areas of business including business development and planning,
investor relations, corporate governance, rebuilding management teams, and
banking and finance. He has been involved in major business transactions
including mergers, acquisitions, and major financings and restructurings of
large public companies.
Mr. van der Welle graduated in Engineering from Southampton University and is a
qualified Chartered Accountant. He is also a member of the Chartered Institute
of Taxation and the Association of Corporate Treasurers.
Upon announcing his appointment Mr. Fard said, "We at Groundstar are extremely
pleased that a person of Mr. van der Welle's stature and experience has joined
our Board. Not only has he proved that he is a dynamic and successful leader in
the oil industry, he brings to the table a wealth of knowledge in respect of the
corporate finance and the international aspects of the business. He will
undoubtedly prove to be a great asset in the growth and success of Groundstar in
the years ahead."
Groundstar has granted incentive options to Mr. Van der Welle, to purchase
250,000 shares at an exercise price of $0.70 per share, expiring July 16, 2013.
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