Mr. Jing Hap Lee and Mr. Yang Luwu are respectively the director and founder of Orion Energy International Inc. (“Orion”). Dr. Yang has led the formulation of Specifications for Coalbed Methane (CBM) Resources/Reserves of China. Mr. Ding Guiming is an expert geologist and has worked with many large oil and gas fields. He was formerly the director of the Administrative Bureau of Daqing Oilfield (大慶油田管理局), the director of the Exploration Bureau and the assistant general manager of China National Petroleum Company (中國石油天然氣總公司管理局), as well as a special inspector with the State Council.
Sino Oil and Gas Holdings Executive Director Dr. Dai Xiaobing said: “On behalf of the board, I warmly welcome the five senior members to our management team. They will bring to the Group their management experience, technical expertise and insights into government policies, which is invaluable to our future business development.”
The Group entered into an agreement in July 2010 to acquire the entire issued share capital of Orion at a consideration of HK$2.34 billion. The acquisition will fuel the Group’s participation in the development and production of CBM in Sanjiao District of Shanxi and Shaanxi Provinces in the PRC.
Dr. Dai continued: “The acquisition of Orion was completed on November 15, 2010. The new management members will help integrate Orion’s CBM business into the Group. As for the placement plan announced on July 3, 2010, since the placing terms did not meet management expectations, the management has resolved to terminate the placement after due consideration for the best interest of the Group and shareholders. However, we do not foresee any adverse impact from the termination of placement on our operations. Management is seeking alternative sources of financing and is confident about securing new funds.”
About Sino Oil and Gas
Sino Oil and Gas Holdings Limited (HKEx: 702) is an energy company with a key focus on oil and gas. The Group is committed to building a portfolio of oil and gas assets and operations with an aim to develop into one of the leading independent oil and gas companies in Greater China. The Group currently operates oil and gas fields in the PRC and the US.
Profiles of Newly Appointed Management Members
Mr. Jing Hap Lee (景哈利) was appointed as Chief Executive Officer of the Company, principally responsible for strategy formulation and daily operations.
Mr. Jing graduated from Xian Jiaotong University in 1980. He has been working for various central government departments and state-owned enterprises for a considerable period of time and has more than 20 years’ experience working with government organizations and private enterprises. He was previously the deputy director and chairman of Workers’ Union of Mechanic and Electronic Products Importation and Exportation Office of the State Council, the deputy general manager of Shenzhen Group Corporation of China Machinery Industry Marketing & Supply Corporation (中國機械工業供銷深圳集團公司), managing director of Hong Kong Company of China National Machinery (中機香港公司) and a director of Orion Energy International Inc.
Dr. Yang Luwu (楊陸武) was appointed as a Vice President and Chief Geologist of the Company, with main responsibilities in geological exploration, development and new business esxpansion.
Dr. Yang holds a PhD degree in Geology from China University of Mining and Technology. He is a certified appraiser of mineral reserve in China and a member of Coalbed Methane Specialized Committee. He has nearly 15 years’ experience in project management and technical research on coalbed methane, petroleum and coal. He is the founder of Orion Energy International Inc. He was also the director of technology department and research center of China United Coalbed Methane Co., Ltd. and has led the formulation of Specifications for Coalbed Methane Resources/Reserves of China.
Mr. Gong Jie (宮捷) was appointed as a Vice President of the Company, responsible for government and environment related affairs.
Mr. Gong graduated from Jilin University majoring in Economics in 1982. He has nearly 40 years of working experience with scientific research institutes, government departments and enterprises. He was the vice secretary to the Communist Party Committee for the Economics and Management School of Jilin University and executive vice president of the Business School of Jilin University, as well as a senior project officer of Department of International Cooperation and Exchanges, Ministry of Education of PRC. He was also the vice president of Shide Group in Dalian, vice president of Tianjin Zhongji Group (天津中基集團) and a director of Tianjin Huanbohai Holding Group.
Mr. He Hongbing (賀紅兵) was appointed as Vice President of the Company, responsible for corporate finance and investor relations.
Mr. He holds a bachelor’s degree in Geology from Peking University and a master’s degree in Civil Law from Yantai University. He is a CFA Charterholder and a member of The Hong Kong Society of Financial Analysts. He holds a Chinese lawyer qualification, and has nearly 10 years of working experience in corporate finance and investor relations. He was the financial manager of Shenzhen B&K Electronic Co., Ltd, the deputy general manager of the Investor Relations Division of China Gas Holdings Limited in Hong Kong and an investment analyst at Singapore’s UOB Kay Hian Research Pte Ltd.
Mr. Ding Guiming (丁貴明) was appointed as Chairman of the Oil and Gas Expert Commission of the Company, with key responsibilities in assisting the management to formulate strategic development plans. Issued by : Through :
Mr. Ding graduated from Chengdu University of Technology majoring in oil and gas geological exploration in 1964. He has worked at Daqing Oilfield for a considerable period, and has nearly 40 years of working experience in the exploration, exploitation, production and management of large oil and gas fields. He was a technician of Daqing Oilfield Institute (大慶油田研究院), the head of Daqing Petroleum Extraction Sixth Factory Institute (採油六廠研究所), the director of the Administrative Bureau of Daqing Oilfield, the director of Exploration Bureau and the assistant general manager of China National Petroleum Corporation. He was also a special inspector of the State Council, the chairman of the Supervisory Committee of Central Enterprises Working Commission and the vice chairman of China Enterprise Directors Association.
Sino Oil and Gas Holdings Limited
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