GENOIL INC. ANNOUNCES APPOINTMENTS OF NEW MANAGER OF GLOBAL BUSINESS DEVELOPMENT AND MANAGER OF MIDDLE EAST OPERATIONS
Calgary, Alberta, Canada — October 11, 2007 — Genoil Inc. (TSX.V: GNO; OTCBB: GNOLF) is pleased to announce the appointments of Dr. Richard D. Chimblo as Manager of Global Business Development and Mr. Mohammed H. Al-Saif as Manager of Middle East Operations. Dr. Chimblo will be responsible for globally promoting the company’s GHU® heavy oil upgrading technology. Mr. Al-Saif will manage the business development activities of the company in the Middle East.
Dr. Chimblo is a Director and COO of GCC Trading & Technology, Limited, in Houston. He has over 38 years of petroleum exploration and field development experience, managing professional geoscientists at major oil and gas companies in the United States, England and Saudi Arabia. During his 16-year career at Saudi Aramco, he held the positions of Chief Explorationist, Chief Geophysicist and Manager of Geophysics. After returning to the United States in 1996, he was retained in various corporate advisory positions including General Manager, Exploration (Western Atlas E&P Services), Vice President, Exploration Solutions (Landmark Graphics, a Division of Halliburton), and Director, Geotechnology Research Institute (Houston Advanced Research Center). As a member of Saudi Aramco’s Exploration Management Team, he was responsible for the organization, staffing, budgeting, contract administration and cost effectiveness of all geophysical aspects of the Exploration and Field Development Programs. He has also published several articles on the identification, evaluation and implementation of technologies required for cost-effective and efficient execution of oil and gas operations including integration with downstream processing facilities.
Mr. Mohammed H. Al-Saif is a Director and CEO of GCC Trading & Technology, Limited, in Saudi Arabia. During his 25-year career with Saudi Aramco, Mr. Al-Saif held positions in the Exploration Organization with specialization in seismic acquisition, data processing and cartography. In 1997, his company was a critical sub-contractor to a $50 million, three-year seismic crew contract awarded by Saudi Aramco. GCC Trading & Technology, Limited is a new company formed in partnership with Mr. Al-Saif, owner of MHS General Construction Company and the Ali H. Al-Saif Establishment for Trading & Technology.
Genoil Chief Operating Officer, James Runyan, said: “We are extremely excited about adding Dr. Chimblo and Mr. Al-Saif to the Genoil team. This is a strategic move designed to create significant global business opportunities in the oil & gas and petrochemical markets. We believe their extensive international experience and their technical expertise in the oil industry will be a great asset to Genoil’s continued expansion.”
Genoil Inc. is an international engineering technology development company based in Alberta, Canada, that develops innovative hydrocarbon, oil and water separation and marine technologies for the oil and gas and commercial marine industries.
CONTACT: Genoil Inc.