ZAAB ENERGY AG
ZAAB Energy AG appoints new personnel
ZAAB ENERGY AG / Change of Personnel Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Munich, 4 March 2008. ZAAB Energy AG is pleased to announce that on 1 February 2008 Dr. Carsten Geiger joined ZAAB Energy group as technical director. Carsten Geiger, a 44 year old German national, gained worldwide E&P experience while working for Exxon Exploration Company, Preussag Energie GmbH, OMV E&P GmbH, and most recently as Director E&P for PKN Orlen S.A. During his career, he spent three years at various locations in the Russian Federation and is, therefore, familiar with the Russian oil and gas industry. He will contribute his vast geological and operational know how and be responsible in particular for the risk evaluation of ZAAB Invest’s oil and gas projects and for proposing additional investment opportunities. In addition, ZAAB Invest appointed a successor for the position of Chief Geologist. At the end of February 2008, Professor Gennadiy Shilov retired from his position as Chief Geologist at ZAAB Invest, Moscow reaching retirement age. Professor Shilov supervised the geological work for all of ZAAB Invest’s license areas and most recently oversaw the drilling operations in the South-Yermolinskiy license block. Zamir Abdullaev, the CEO of ZAAB Invest, declared: 'We are most grateful for Professor Shilov’s work for ZAAB Invest during the past four years. He was instrumental in preparing the exploration works for our whole license portfolio. We wish him all the best.' Professor Shilov’s position will now be assumed by Professor Nurdin Yandarbiev, who is teaching at the Lomonosov Moscow State University’s Faculty of Geology. He worked for various independent geological institutes and has a proven track record in implementing oil and gas projects. Zamir Abdullaev explained that 'ZAAB Invest is most fortunate to find such an experienced and well known expert as successor to Professor Shilov. He will certainly be able to continue the extensive geological work.' General information about ZAAB Energy AG ZAAB Energy AG is a Munich based independent oil and gas exploration and pre-production company which expects to start up its oil and gas production in the near future. ZAAB Energy’s Russian subsidiary ZAAB Invest holds a license portfolio to five areas located in the Russian Federation between Black and Caspian Sea with significant oil and gas resources. Board of directors Forward looking statements This news release is based on partly forward looking statements i.a. on planned drillings and expansion drillings, as well as associated costs and estimates of oil and gas production, cash flows and other factors. All statements such as planned, estimated, expected, potential etc. are of a forward looking nature. Although ZAAB Energy AG is of the opinion that the forward looking statements are plausible, they comprise risks and uncertainties in a way that the occurrence of the assumed results may not be warranted. Important factors that may lead to deviations between the actual results and the forward looking statements are e.g. issues of a technical or mechanical nature or geological issues, which may lead to the result that a commercial recovery of the reserves or resources is not possible. In addition, prices may have an important impact on profitability. No offer to sell shares This document represents neither an offer to sell shares of ZAAB Energy AG ('the Company') nor an invitation to make an offer to purchase shares of the Company. This document and the information contained therein may not be brought into or transmitted to the United States of America or distributed or transmitted to American persons (including legal entities as defined in Regulation S of the United States Securities Act of 1933, as amended - the 'Securities Act') or to publications with a general circulation in the United States of America. Each violation of such limitations may constitute a violation of applicable securities laws. The shares of the Company have not been, and will not be, registered under the Securities Act, or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of any US person (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There shall be no sale of shares in the Company in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to qualification under securities laws of such state or jurisdiction. Jan-Hendrik Röver, Member of the Board, tel.: +49 89 242 246 910 04.03.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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