DAR ES SALAAM, Tanzania,
Nov. 6, 2014 /PRNewswire/ --
Continental Energy Corporation, (OTCQB: CPPXF, the
"Company"), an emerging international energy investment
company, today announced that management has nominated Mr.
John Tate for election to the
Company's board of directors at next month's annual general meeting
in Vancouver, B.C., Canada on 5 December
2014.
Mr. Tate is currently a director of and the Chief Financial
Officer of the Company's 65% owned subsidiary, Ruaha River Power
Company Ltd. ("Ruaha Power"). Pan African Management and
Development Company Inc., a private company owned and controlled by
Mr. Tate and his family owns the other 35% of Ruaha Power.
Mr. Tate commented: "I have worked closely with Continental
management over the past 15 months developing a renewable energy
business model to address a pressing market need, electrical power
solutions delivered directly to consumers in the underserved rural
communities in countries rimming the Indian Ocean. The countries in
this region, and international multilateral financial institutions,
are also beginning to offer substantial financial incentives to
clean energy developers willing to take on smaller projects in
rural areas with abundant sources of renewable energy but which are
far from their own national power grids. Continental's board
consists of directors located in strategic locations around the
Indian Ocean Rim: Dar es Salaam, Jakarta, Dubai, and Hong
Kong. We are convinced this market is ready for explosive
growth, and that Continental is uniquely positioned to capitalize
on it. Our vision is to generate, distribute, and deliver clean
electrical power to one million customers, one village at a time,
starting in Tanzania. Ruaha Power is the vehicle we have
created to launch into this space to bring our shared vision to
reality."
About John Tate: Mr. Tate
is a senior executive with global experience in emerging and
frontier markets gained in positions with major U.S. multinational
corporations, an early stage software company, and a start-up
copper mining and mineral processing company in Africa. He has been residing in Dar es Salaam,
Tanzania, East Africa since 2007 where he also serves as
the Chief Executive Officer and Vice-Chairman of Kastan Mining PLC.
Prior to his relocation to Africa,
Mr. Tate was the Chief Financial Officer of a software-as-a-service
company in Cincinnati, Ohio. From
2000 to 2005, he was the Assistant Treasurer, Global Operations for
a logistics and supply chain management company.
His earlier business career involved 10 years with Ford Motor
Credit Company and he served in various senior financial positions
in international postings in Korea, Thailand, and India. Mr. Tate earned a Bachelors and a
Master's degree in Business at Colorado State
University, and a Post-Baccalaureate Accounting Certificate
from Portland State University. He is a
Certified Public Accountant, Certified Internal Auditor, and
Chartered Global Management Accountant.
On behalf of the Company,
Robert V. Rudman, C.A.
Chief Financial Officer
Continental Energy Corporation - www.continentalenergy.com
Forward Looking Statements - Any statements in
this news release that are not historical or factual at the date of
this release are forward looking statements. Forward looking
statements in this release include the opinions of the nominee
director regarding renewable energy development plans for Ruaha
Power. There are many factors which may cause actual performance
and results to be substantially different from any express or
implied plans, estimates, forecasts, expectations, or objectives
described in any forward looking statements. Readers should also
refer to the risk disclosures outlined in the Company's regulatory
disclosure documents filed with the Securities and Exchange
Commission available at www.sec.gov. The Company assumes no
obligation to update the information in this release. No securities
regulatory authority has either approved or disapproved the
contents of this news release.
SOURCE Continental Energy Corporation