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LNG Energy announces changes in top management

Staff writer |
Vancouver, BC Canada - June 30, 2012, Vancouver, BC Canada - LNG Energy announced that Dave Afseth will resign as president and chief executive officer, effective July 2, 2012.

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Mr. Afseth has more than 40 years of experience in oil and gas drilling, completion and construction. From 1989 to 2007, Mr. Afseth has held numerous senior management and executive positions within Canadian Intermediate, US International Independent and Worldwide Major Integrated upstream E&P companies.

In his capacity as Drilling Manager for Poco Petroleums he managed all of Poco's Drilling & Completions operations. In 1999 Burlington Resources Canada acquired Poco and Mr. Afseth continued with the Company as VP Drilling, Completions and Construction.

In 2006, Burlington was acquired by ConocoPhillips Canada where Mr. Afseth continued his role as General Manager of Drilling, Completions and Construction. Mr. Afseth also managed various drilling programs with Shell Canada, Canada Northwest Energy and Columbia Oil and Gas.

The Company also announced that David Nelson, the current General Manager, Europe of the Company, has been appointed as President and Chief Executive Officer of the Company, effective July 2, 2012.

Mr. Nelson has more than 32 years of geological, engineering, and commercial experience in the energy industry, focusing the last 20 years on European and Central Asian oil and gas provinces. Prior to joining LNG, Mr. Nelson served as President and Chief Operating Officer for Direct Petroleum Exploration and as Business Development Engineering Manager for TransAtlantic Petroleum.

During his tenure at Direct Petroleum, Mr. Nelson was Vice President of Exploration and Production before taking on the role of President and COO. With the sale of the Bulgarian assets to TransAtlantic in 2011, Mr. Nelson continued to oversee the geological and commercial operations in Bulgaria.

Prior to joining Direct in 2003, Mr. Nelson held various management and technical positions in the energy industry covering areas of frontier exploration, strategic planning, business development and investment banking. He holds a degree in Geological Engineering from Michigan Technological University and is a member of the University's Distinguished Alumni Academy.

The Company also announces that Dr. Robert Gayton has resigned as Director, effective July 2, 2012. He graduated from the University of British Columbia in 1962 with a Bachelor of Commerce and in 1964 earned the Chartered Accountant (C.A.) designation while at Peat Marwick Mitchell. Dr. Gayton joined the Faculty of Business Administration at UBC in 1965 beginning 10 years in the academic world, including time at the University of California, Berkeley, earning a Ph.D. in Business.

Dr. Gayton rejoined Peat Marwick Mitchell in 1974 and became a partner in 1976, providing audit and consulting services to private and public company clients for 11 years. He has directed the accounting and financial matters of public companies in the resource and non-resource fields since 1987.

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