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Petromin Launches International Advisory Board
 
Petromin Launches International Advisory Board

Monday, 10 March 2008

Petromin Resources Ltd.

TSX.V Symbol: PTR

390-1090 W. Georgia St.

Vancouver, B.C. V6E 3V7

T. 604-682-8831

F.604-682-8683


Petromin Launches International Advisory Board


March 10, 2008 – Further to previous public releases, Petromin Resources Ltd. (TSX.V Symbol: PTR) is pleased to announce the formation and initiation of its International Energy Advisory Board. Petromin has initiated the formal launch of the Advisory Board with the appointment of two distinguished advisors.

The Advisory Board will provide expert advice to the Petromin Board of Directors and senior management in specific areas including:

  • Specialized expertise in engineering and science;
  • New business opportunities;
  • International law and forms of agreement;
  • International business cultures and negotiations;
  • Sustainable energy development;
  • International finance.
  • The Board of Directors anticipates the Advisory Board will assist the company’s growth and contribute to the creation of shareholder value through the provision of expert advice in specific areas.


    The initial Chair of the Advisory Board is Donald O. Downing. Mr. Downing, a geologist and economist, has over 30 years experience in the energy industry principally with Imperial Oil Ltd. (1979-1992) where he managed international uranium and coal marketing and latterly was head of the coal division and President and CEO of Byron Creek Collieries a unit of Esso Resources. He was President of The Coal Association of Canada (1993-98) and Vice President & Director of Norwest Corporation (1999-2006). Most recently he founded, with other Norwest Corporation principals, TerraWest Energy Corp. (TWE) a private company with a significant coalbed methane project in China and he remains a director of the company. Majority shareholding in TWE was taken by Petromin and its nominees through share subscription in November, 2007.


    Mr. Downing will facilitate and coordinate the formative activities of the Advisory Board on behalf of the Petromin Board of Directors.


    At this time Petromin is also pleased to announce that Phillip D. Bretzloff will join the Advisory Board to provide advice in the area of international legal affairs.


    Mr. Bretzloff has over 30 years experience acting for oil, gas and energy companies for Canadian and international private and public corporations. His background includes Senior Counsel for Petro-Canada and Union Oil Company of Canada and Partner with Cumming Blackett Bretzloff Todesco, Gowlings and Baker McKenzie in both Calgary and China.


    Of particular note he was lead counsel for the Baker McKenzie team in drafting contracts including various Production Sharing Contracts, Pipeline Joint Venture Contracts and Pipeline Construction Contracts for the 5000 km trans-national West-to-East Gas Pipeline in China on behalf of PetroChina in negotiations with proposed partners Shell, ExxonMobil and GazProm. During this period Mr. Bretzloff resided in Beijing. Some of Phil’s professional affiliations include the Petroleum Advisory Forum, the International Bar Association and the Association of International Petroleum Negotiators.


    Petromin Co-Chairman and President, Ross Gorrell states, “as Petromin’s international presence grows, the addition of Phil to our team in Vancouver is a tremendous asset. His extensive Canadian and international oil and gas legal and business experience and negotiation skills provide Petormin with an advantage on the international oil and gas stage.”


    Commenting on the formation of the Advisory Board Mr. Gorrell indicated, “Petromin and its shareholders will derive significant benefit and competitive advantage through the addition of the world class expertise to the Advisory Board. The initial appointees Messrs. Downing and Bretzloff are both highly reputable Canadian business people with extensive international experience and their appointments reflect how we plan to proceed with future appointments to the Advisory Board.”


    In addition to Petromin’s investment in TWE, it is pursuing business development in Kuwait of both enhanced oil recovery (EOR) and heavy oil development. The Company has also taken a major step into the international arena through its strategic Master Services Agreement with Enviro-Energy International Holdings of Hong Kong. Petromin has joined Enviro-Energy and Chinese parties in a multi-well enhanced coalbed methane (CBM)/CO2 sequestration pilot project in China.


    The advisory board positions are non-compensatory positions however, Petromin will grant incentive share options to each member.


    On Behalf of the Board of Directors


    Dr. A Ross Gorrell

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