Rich Minerals Corporation Announces President for Brazilian Operations
Wednesday, August 13th 2008
The Company is pleased to announce the appointment of Juliano Magalhaes Macedo, Ph.D as president of our wholly owned subsidiary, RMC Exploracao Petrolifera Ltda., in Brazil. Dr. Macedo holds a Ph.D in Structural Geology and Tectonics, University of Illinois, USA and both M.Sc. Structural Geology and a B.Sc. Engineering Geology, Escola de Minas, UFOP, Brazil.
Before starting his own consulting company Dr. Macedo worked 18 years for Petrobras, from 1982 to 2000. In 1997, while still with Petrobras, his main responsibilities were to develop new joint ventures with foreign companies, onshore and in the deep-water region of Santos and Potiguar basins, and he achieved the proposed results in both basins. Recently he has assisted several companies to identify potential prospects and to coordinate the execution of the exploratory program in a total of 55 blocks in Potiguar and Sergipe-Alagoas Basins. From the work of his group, resulted a few partnerships with other companies and discoveries in the Potiguar Basin.
Dr. Macedo has also been responsible for the development of integrated petroleum system projects in Brazilian basins in a multi-client mode and in Mexican basins in a proprietary mode. The main projects included oil and source rock studies, onshore and offshore surface geochemistry, reservoir geochemistry, basin analysis, petroleum systems quantitative modeling, and exploration block assessment. Dr. Macedo has also been responsible for identifying, selecting and developing projects alone or in partnerships in Venezuela, Ecuador, Columbia, Libya and the country of Angola. Dr. Macedo has extensive international experience.
“We welcome Juliano as president of our Brazilian subsidiary. Juliano’s wide-ranging industry experience, in particular in the field of identifying potential projects and coordinating their exploration, will prove valuable toward our goal of rapid growth in Brazil,” commented Bernard Chamberland, Chairman and CEO.
Subject to obtaining approval from the exchange, the Corporation will be granting Dr. Macedo an option to purchase 275,000 common shares of the Corporation at a price of $0.20.
Rich Minerals Corporation is qualified as an on-shore operator and was a successful bidder on two oil and gas concessions in the 9th round of auctions held in Brazil, November, 2007. The company is currently outlining its 2008 – 2009 work program on the concessions awarded in the Potiguar Basin.
