Ala Nuseibeh Joins Sonoran Energy: Middle East Oil & Gas Expert Added to Board of Directors.Energy Editors/Business Editors LOS ANGELES--(BUSINESS WIRE)--June 3, 2004 Sonoran Energy, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SNRN SNRN Sorry, Not Right Now ) President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Peter Ostenfeld-Rosenthal announced today that Middle East oil and gas expert Ala Nuseibeh has agreed to join the Company's Board of Directors. Mr. Nuseibeh brings over 20 years of direct oil and gas experience in the Middle East, North Africa and the Caspian Region to Sonoran Energy's Board. "Ala Nuseibeh and his family have been key players in the Middle East business community for close to 50 years," said Peter Ostenfeld-Rosenthal. "This strong network will help Sonoran Energy, and its subsidiary Baron Oil, in building a strong base of oil and gas contracts throughout the region. In addition, Mr. Nuseibeh's extensive experience in the Caspian region will play a significant role in the Company's on-going efforts to secure Production Sharing Agreements Production sharing agreements (PSAs) are used primarily to determine the share a private company will receive of the natural resources (usually oil) extracted from a particular country. in Kazakhstan." "Sonoran Energy has an excellent opportunity to be positioned as an important player in the oil and gas industry in the Middle East and Caspian region," said Ala Nuseibeh. "I look forward to assisting Sonoran Energy in securing funding, identifying projects, and arranging strategic partnerships in the Middle East and the Caspian region. With the appropriate introductions to investors who understand the region, and are familiar with our experience, there is an excellent opportunity to aggressively move Sonoran Energy forward." Ala Nuseibeh has several interests in oil and gas corporations dealing with procurement of products and services for national and international oil & gas corporations. He has assisted blue chip corporations in penetrating into the Middle East, which resulted in early successes. Nuseibeh moved into the oil and gas industry after working with his family's successful construction business in Qatar. As an expert in Middle East oil and gas, Nuseibeh specializes in identifying upstream and downstream oil and gas opportunities, arranging strategic partnerships, and facilitating project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. . Since 2002, Mr. Nuseibeh has been Middle East Director of Baron Oil, which was recently acquired by Sonoran Energy. About Sonoran Energy Sonoran Energy, Inc. is an independent oil and gas company with a presence in Iraq, Jordan, Norway and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The Company intends to build a portfolio of high producing oil and gas fields in the Middle East and the Caspian Region - with production potential in excess of 50,000 barrels of oil per day (BOEPD BOEPD Barrels of Oil Equivalent Per Day ), and is pursuing material and high value global oil and gas upstream opportunities. Sonoran Energy is concurrently pursuing high value upstream opportunities in North America. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion