West Isle Energy Inc. (“West Isle”) (CNSX:WEI) announces that the Company has signed an engagement agreement with Mr. Kim Wojcinski of Gig Harbor, Washington.
This agreement is to provide corporate services regarding West Isles’ Colombian project-including and without limitation, assistance and advice on financing, financial and business development strategies, corporate structure, acquisitions, mergers, consolidations, and joint ventures. In consideration for the performance under the agreement West Isle shall pay Mr. Wojcinski or his designee a fee of 10% of financing or other related transactions if those introduced by Mr. Wojcinski proceed to fruition. No compensation will be paid without performance.
Mr. Wojcinski is a private individual based out of Gig Harbor, Washington. He has been involved with corporate transactions valued to $100million, which have included acquisitions and divestitures of oil & gas and EV Battery technology, financings in Alberta, British Colombia, USA and internationally. Mr. Wojcinski, a contractor, will serve as vice president of corporate development for West Isle Energy Inc. effective immediately. His primary role is to assist in financing West Isles’ Colombian venture. Mr. Wojcinski currently serves as vice president of a private oil and gas company out of Waco Texas and is involved in the development and funding of that company. Existing operations within West Isle remain unchanged. The addition of his services are complimentary to WEI and do not restrict the Company in any way in its pursuit of corporate financings or mergers and acquisitions.
Operations update:
Colombia: West Isle continues to evaluate and plan for the development of its Colombian prospect while it seeks out financing to complete the first phases of exploration and development. This would be exploratory drilling which would follow the drilling of five development wells on the light oil La Isabela prospect.
A large prospect on the eastern edge of the block has been recently identified. It appears on surface mapping and on existing seismic after re-processing and reinterpretation. This prospect-Bonanza East-lies up dip from, and is similar in profile to, the ECOPETROL’s adjacent Bonanza field, which came on stream in the late 1960′s. Bonanza has produced 17mm barrels of oil to date and still produces in excess of 2,000 bopd from 25 wells.
Source: Stockhouse
