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| | January 03, 2006
Expert Advisors
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| | Verona Development Corp. ("Verona") is pleased to announce the creation of an advisory board to assist the company in evaluation, exploration and development of its Coal Bed Methane Projects in China.
Current members of the advisory board are:
- Marc Bustin, Ph.D.
- Chris Cornelius, Ph.D.
- Yan Changle, Ph.D.
- Richard (Xuxin) Shao, Ph.D.
Dr. Marc Bustin a Professor of petroleum and coal geology in the Department of Earth and Ocean Sciences at the University of British Columbia and president of RMB Earth Science Consultants and a principal of CBM Solutions Ltd. He has broad experience in the realm of fossil fuels both in research and in his consultancy practice. Dr. Bustin has over 30 years experience in the petroleum sector including employment by Mobil Oil Canada and Gulf Canada Resources prior to joining the University of British Columbia. He has published over 150 scientific articles on fossil fuels in his time as editor of several well known geological journal publications. Dr. Bustin has been the recipient of the Thiesson Medal from the International Committee for Coal Petrography in 2002 for his contributions to coal sciences/organic petrology and the Sproule Award in 2003 for contributions to the study of unconventional gas resources. Dr. Bustin is an elected Fellow of the Royal Society of Canada.
Dr. Bustin is president of RMB Earth Science Consultants (a company specializing in evaluation of unconventional gas resources) and a principal and technical advisor to CBM Solutions Ltd. (one of largest service and technical support companies in the coalbed methane and gas shale industry).
Chris Cornelius holds a Ph. D. (Geology) from the University of Birmingham, UK; his successful career expands over 20 years with a proven track record as an innovative senior team manager with extensive "hands-on" and technical expertise in the US and International Exploration & Production and Well Service industry. A proven gas finder with a track record of developing and utilizing some of the industry's most advanced technology focused mainly on unconventional resource exploitation, new tight gas exploration frontiers, selective completion technology and the implementation of new generation drilling and production enhancement strategies for CBM.
His background includes various field operation roles with the responsibilities of Management of Operations, Exploration, Engineering and new product development groups, including Nowesco Well Services (UK and Canada), initially the Project Engineer, Mr. Cornelius was promoted to the position of Manager of Engineering over his 6 years with the Nowesco. Following his time at Nowesco, he was a director of geology and technology for Evergreen Resources Inc. for 6 years. During that time he focused on company growth, management of exploration and exploitation groups, implementation of new technology and developing business and operation models. Most recently he was Director -- CBM development with Pioneer Natural Resources Inc.
Mr. Richard Shao has a Ph.D. (Metallurgy) from the Beijing Graduate School, China University of Mining & Technology. Over his 25 year career he has held various positions as Research Engineer, Associate Professor, Department Head and Lecturer at the Graduate School, Research Scientist for the University of Kentucky, as well as Process Metallurgist and Project Manager for Canadian based mining companies.
He is currently president and director of Troland Resources Inc. private company focused on project evaluation, management and mine consulting. Mr. Shao has a long history and a proven and successful track record in many facets of exploration and development in China.
Mr. Changle holds a Ph. D. (Economics) from the China University of Mining and Technology. Specializing in the Economics of Energy Sources research, his doctoral thesis focused on the Theory of Industrial Organization and the Research to Scale Economy, which has been in a number of publications.
Mr. Changle is currently the Deputy General Manager of Development department for China Energy Conservation Investment Corp., focused on energy conservation and environmental protection. Over his career he has been involved in projects such as strategic planning of the energy development in China from 2000 to 2050.
Management believes that the experience and expertise brought by these individuals will prove invaluable in the management and growth of the Company's current and future CBM projects in China.
Pursuant to the Company's Stock Option Plan, the Company will be granting 1,200,000 stock options at $1.05, and the optioned shares are subject to a four month hold period.
On behalf of:
Verona Development Corp.
Juraj Adamec, President
For further information, please contact Verona Development Corp. at 604-688-2008.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. |
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