VANCOUVER, British Columbia, Sept. 01, 2022 (GLOBE NEWSWIRE) — Pulse Oil Corp., (“Pulse” or the “Company”) (TSXV: PUL) announced that Darren Lehne has accepted an appointment to become Pulse’s Chief Operating Officer effective immediately, subject only to standard regulatory approval and upon receipt of Drew Cadenhead’s resignation. Pulse is happy to announce that Drew will remain as the Company’s President and as a Director.
Darren Lehne has over 35-years of experience in the upstream oil and gas industry focussed on operations, regulatory compliance with a focus on his top priority being environmental and safety relating to the oil and gas industry. Darren has worked for over 15 years with Pulse’s executive team, including since Pulse’s inception in 2015 and prior, when Pulse’s President and CEO were executives at TAG Oil Ltd. Pulse feels this is a positive change to its management structure as Darren has to this date, and continuing forward will be Pulse’s primary operational executive on the ground leading up to and throughout the Bigoray EOR project.
Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% Working Interest Enhanced Oil Project Located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company plans to institute a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse’s total reclamation liabilities are less than $3 million which, when compared to many peers in the industry in Western Canada, are very low.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Pulse Oil Corp.
Forward Looking Statements:
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In this news release, such statements include but are not limited to the appointment of Darren Lehne as Chief Operating Officer of Pulse. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Pulse as of the date of this news release and, accordingly, is subject to change after such date. However, Pulse expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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