Westbridge Provides Updates on Block 1811B

Source: www.gulfoilandgas.com 9/10/2012, Location: Africa

Westbridge Energy Corporation has made a request to the TSX Venture Exchange (“TSXV”) for the re-instatement of trading of its common shares. The trading halt implemented on September 4, 2012 initiated at Westbridge’s request in anticipation of the announcement of a transaction which would constitute a Fundamental Transaction for the purposes of the rules of the TSXV. Since the proposed transaction could not be consummated in a timely manner, in the form contemplated, Westbridge has requested a re-instatement of trading while negotiations continue. The Company will provide an update as further information becomes available.

1811B Evaluation
Westbridge is pleased to announce that it has initiated a selection process for the appointment of an engineering consultant to assist with the analysis and resource definition for its 80% controlled Block 1811B offshore Namibia. It is anticipated that a consultant will be appointed before month end with a target date for delivery of a report to the Company by the end of October.

CFO Change
Westbridge is also pleased to announce the appointment of Robert Boisjoli as Chief Financial Officer. His broad experience in advisory services and financial management extends over 31 years and covers various sectors including resources, biotechnology and real estate. His accreditations include Fellow Chartered Accountant (FCA) and Chartered Business Valuator (CBV) and he specializes in mergers and acquisitions, raising equity and debt as agent and direct investing.

President’s Statement
Cody Lee, Westbridge’s President and CEO, stated, "Westbridge continues in search of accretive acquisitions where the team can identify opportunities, add scientific and corporate expertise, and thereby create value for all Westbridge stakeholders.” He further commented, “Westbridge management and its board are pleased by the addition of Bob Boisjoli as CFO. His years of capital market expertise are a terrific addition to the Company. As we continue to grow, a senior finance officer such as Bob brings confidence and support to the Westbridge team. We take this opportunity to thank Jonathan Younie for his service as CFO and we look forward to his continuing support and assistance.”

The Company announces the grant of up to 250,000 options to officers and consultants, subject to TSXV approval.


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Related Categories: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 

Related Articles: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 


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