Bow appoints Ahmad as Vice President Exploration
Wednesday, April 5 2017 - 01:10 AM WIB
Canada?s Bow Energy Ltd said that its wholly owned subsidiary, Bow Energy Pte. Ltd., has appointed Sarshar Ahmad as Vice President Exploration, effective April 3, 2017.
The company said in a statement that Ahmad is an explorationist with over 20 years of experience in the upstream oil and gas industry. He was an integral part of the exploration and development team at Canadian Natural Resources Ltd. Ahmad brings with him extensive experience in the acquisition, evaluation and assessment of exploration blocks and development plays, geological expertise in drilling operations and integration of new technology to improve efficiency of oil and gas upstream operations. Ahmad has Masters degree in Geology from the University of Oslo.
The corporation has granted an aggregate of 2,100,000 incentive stock options under its stock option plan to Ahmad, Alexander McAulay (Chief Financial Officer) and Robert Tjandra (Director). Each option entitles the holder thereof to purchase one common share in the capital of Bow for a period of five years at a price of $0.12 per share. The stock options are not transferrable. The common shares issued upon exercise of the stock options will be subject to a four month resale restriction from the date of grant.
Bow?s two Indonesian oil and gas assets are: (a) 50 percent net working interest in Langsa TAC, an offshore field with production from 2 wells; and (b) through its subsidiary Renco Elang Energy Pte. Ltd., a 44.48 percent net working interest in South Block A, an onshore block located in North Sumatra. The North Sumatra basin is one of the most productive hydrocarbon regions in Indonesia with over 80 known oil and gas fields. Bow?s subsidiary Renco Elang Energy Pte. Ltd. is the operator of South Block A.
Editing by Reiner Simanjuntak