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NRG Resources, Inc. Expands Its Board of Directors NRG Resources, Inc. (OTC: NRRI), an independent energy company, today reported that the following individuals have joined its board of directors: Yedil Kassymov, a renowned geologist; Sergey Lipatov, Construction and Railroads executive; Lee Samango, a former KPMG consultant and CEO of Sport Kat, LLC. Santa Ana, California (PRWEB) October 6, 2005 -- NRG Resources, Inc. (OTC: NRRI), an independent energy company, today reported that the following individuals have joined its board of directors:
Yedil Kassymov – Mr. Kassymov has served as chief geologist for Amber Properties, Inc. a BVI corporation that held licenses to oil fields in South Kazakhstan that were successfully acquired in 1998 by Delta Petroleum Corporation (NASDAQ: DPTR). Professionally, he is an Engineer geophysicist, having graduated from Kazakhstan Polytechnic Institute.
Mr. Kassymov is regarded as the preeminent expert in oil exploration, and has uncovered some of the largest reserves in Kazakhstan. In 1972, he was head of the Geophysical expedition of the Ministry of Geology of Kazakhstan. In 1981 he was invited to join the famous Tromiganskoy geophysical expedition of Hunti-Mansysk Geophisics of the Ministry of Geology of USSR as the director of Seismic Exploration. In this capacity he specialized in studying and exploring oil reserves. In 1990, Mr. Kassymov organized one of the first private enterprise cooperatives, and in 1994 served as the Director of Geological Museum of the Republic of Kazakhstan, and head of Mineral Resources of the Ministry of Geology of the Republic of Kazakhstan.
Sergey Lipatov - Mr. Lipatov is a construction engineer, and has held senior executive positions in his field. Presently, he is the Senior Controller Vice President to the Director General, and the Chief of the International Economic Development for the Russian Railroads, the largest enterprise in the Russian Federation. From 1973 through 1992, Mr. Lipatov served in numerous executive roles culminating in the position of Project Leader and Senior Vice President for Mosgiprotrans, the Ministry of Transportation of the Russian Federation (formerly of the USSR). In this capacity, he has managed infrastructure construction projects throughout Eastern Europe, Asia, Latin America, and Africa.
From 1992 through 1994, Mr. Lipatov served as director of engineering and construction firm, StroyInvest, and from 1994 through 1998, he served as Senior Vice President of VIRO AOA; subsequently, he was recruited to the position of First Vice President of OOO BSK VOSTOK, one of the largest privately held Russian construction and engineering firms, until he accepted the position with the Russian Railroads. He holds a MS degree with highest distinction (Lenin Medal and Red Medal of Labor) from the Institute of Engineering of Railroad Transport, granted in 1973.
Lee Samango - A former senior KPMG consultant, Ms. Samango is an expert at initiating, managing, and delivering high-profile, multi-million dollar consulting projects. Some of her former clients include County of San Diego, District of Columbia, District of Columbia Public Schools, Fairfax County, Fairfax County Adult Education, City of Lancaster, Delaware River Bay Authority, Newport News Public Schools, Richmond City, Richmond Public Schools, Washington County Board of Education, the State of Louisiana, Metropolitan Water District of Southern California, San Diego International Airport, San Diego Unified Port District, and Cincinnati Public Schools.
Ms. Samango is the CEO of Forwardstep Consulting, Inc., a consulting firm that provides its clients with sales, project management, business process improvement, ROI cost analysis, strategic planning, organizational re-design, and software implementation. She is also the CEO of SportKAT, LLC, a San Diego, California based balance and rehabilitation device company. Ms. Samango is a graduate of Tulane University, with a Bachelors of Arts in Political Economics.
"We are pleased to welcome Ms. Samango, Mr. Lipatov, and Mr. Kassymov to our board of directors. I am confident that our company will benefit from the cumulative business experience and decisive guidance of our board," submits Tony Vanetik, Chairman and CEO of NRG Resources, Inc.
About NRG Resources, Inc. NRG Resources, Inc., a Nevada corporation, is an oil and gas exploration and oil products marketing company, based in California. Through its Kazakhstan subsidiary, Munaisystem INK, the Company is pursuing oil and gas exploration opportunities in the Republic of Kazakhstan. Through its oil products division, NRG Resources, Inc. markets a proprietary line of lubricants for industrial and commercial application.
Safe Harbor Statement This announcement contains forward-looking statements, which can be identified by the use of forward-looking terminology such as "may," "expect," "anticipate," "estimate," "continue," "believe" “plan,” “hope, “intend,” or other similar words. We have made forward-looking statements with respect to the following, among others: our goals and strategies; our ability to earn sufficient revenues to operate and retain the human resources that we have recruited or are in the process of recruiting; our ability to continue to operate and/or develop our existing lubricants business; our ability to continue as a going concern. These statements are forward-looking and reflect our current expectations. These forward-looking statements are subject to a number of risks and uncertainties, some of which are beyond our control. Forward-looking statements in this announcement are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although NRG Resources, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Investors are cautioned that all forward-looking statements involve high risks and uncertainty, including without limitation, our limited operating history, the costs and risks of exploring and developing new oil and natural gas reserves, the price for which such reserves can be sold, environmental concerns effecting the drilling of oil and natural gas wells, fluctuations in commodity prices, inconsistent application, interpretation, and enforcement of applicable Kazakh government taxes, and Kazakhstan Excess Profits Tax, currency exchange losses if Tenge depreciates against US Dollar, country and political risks, including diplomatic and political relations between US and Kazakhstan, costs arising from environmental liability, uncertain costs of drilling (oil producing fields located adjacent to Kokaral, are not an indication that our drilling or related efforts will be successful), inability to drill wells that produce commercial quantities of oil and natural gas, shut-ins of connected wells resulting from extreme weather conditions, insufficient storage or transportation capacity or other geological and mechanical conditions, general market conditions, competition, oil and gas pricing, drilling programs and results, our continued operations of our lubricant business, our future capital needs, our ability to retain qualified management and consultants, etc.
For further information regarding this press release contact NRG Resources, Inc., Corporate Communication, attention Mr. Heip "Alex" Trinh on 714-510-6152.
NRG Resources, Inc. Hep "Alex" Trinh Vice President, Business Development Tony Vanetik, Chairman 3720 South Susan Street Suite 100 Santa Ana, CA 92704 714-689-9100 Fax 714-689-9111
Source: NRG Resources, Inc.
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