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GENOIL INC. ANNOUNCES APPOINTMENT OF NEW CFO (2009-04-29)

GENOIL INC. ANNOUNCES APPOINTMENT OF NEW CFO
2009-04-29

 

Calgary, Alberta, Canada – April 29, 2009 – Genoil Inc. (TSX.V: GNO, OTCBB: GNOLF.OB) announced today the appointment of Brian Korney as interim Chief Financial Officer, effective immediately. Mr. Korney brings more than 30 years experience in many facets of the energy industry. Brian Korney had served as CFO of Genoil Inc. previously, from September 2004 until June 2005, when he became a Director of the Company.

Brian D. Korney graduated from the University of Alberta in 1976 with a Bachelor of Commerce Degree, majoring in Finance and Accounting. He became a Chartered Accountant in 1978. In 1981, Mr. Korney joined the Robert W. Lamond Group as Controller/Treasurer with a wide range of responsibilities, including banking, insurance management, financing, administration of the accounting department and reporting to various regulatory authorities. From 1983 to 1988, Mr. Korney held the position of Controller with Sea Hawk Resources Ltd. and Mission Resources Limited. Mr. Korney joined Grad & Walker Resources Ltd. in 1988 becoming Vice-President, Finance and Corporate Secretary, playing a significant role in its initial public offering. In September, 1994, Mr. Korney joined Electra Energy Corporation as Treasurer and Chief Financial Officer where he remained until he participated in the inception of BriAlto Energy Corporation during 1996. BriAlto executed a reverse takeover on Highland Energy Ltd., which became Highland Energy Inc. and was merged into Ketch Energy Ltd., in May, 2000.

During November 2000, Mr. Korney co-founded Innova Exploration Ltd., where he remained as CFO and VP Finance until August 2004. Brian Korney is currently the Chief Financial Officer and Corporate Secretary of Caspian Energy Inc.

Genoil hereby announces that Hendrik Lombard has resigned from position as Chief Financial Officer. The Board of Directors is very appreciative of his contributions and wishes to thank Mr. Lombard for his service.

Genoil is an international engineering technology development company based in Alberta, Canada that develops innovative hydrocarbon, oil and water separation, and marine technologies.

For further information please contact:
David Lifschultz
Chairman and CEO
(914) 834-7794
www.genoil.net