November 6, 2008
Mr. Glenn Kelly Joins Gastem Board of Directors
Gastem (TSX VENTURE: GMR) (the "Company") is pleased to announce the appointment of Glenn R. Kelly, to the Board of Directors and as head of the Board's technical committee. Mr. Kelly is expected to play a key strategic and technical role in assisting Gastem's development.
Mr. Kelly holds a degree in civil engineering from Queen's University and an MBA from Laval University. He combines 25 years of broad experience in the petroleum and natural gas industry ranging from drilling and completions of exploration, production and storage wells, the design and construction of surface facilities, to overall project management and financing on both the upstream and downstream ends of the industry.
Mr. Kelly played very important roles in the Quebec natural gas industry including as President and COO of Rabaska Inc., an 840 million $ LNG terminal project, as President of Intragaz Inc., a company specializing in the development and operations of underground natural gas storage facilities and as Project Manager for SOQUIP. He also worked as a facilities and drilling engineer for Chevron Canada Resources in Calgary. Mr. Kelly was recently appointed President and CEO of CO2 Solution Inc, a company specializing in carbon capture and sequestration (CCS) technology. Mr. Kelly has been an invited speaker at numerous natural gas industry conferences in North America and is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta (APEGGA).
The Company has granted 100,000 incentive stock options to Mr. Kelly. The options will expire within five years from the date of grant and have an exercise price of $0.56.
Gastem is an independent oil and gas exploration company based in Montreal. The company holds exploration and storage rights to 3,135 km2 of land in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in Quebec as well as rights and interests in New York and West Virginia. The company is well funded for on-going projects.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Contacts: David Vincent 514-875-9034 [email protected]
SOURCE: Gastem Inc.