May 10, 2007 - 2:14 PM EDTwww.otcbb.com
ParaFin Corporation Signs Mr. Charles Gail as Petroleum Consultant; Mr. Gail Was Formerly a Consultant to Texaco for the Republic of Colombia
ParaFin Corporation (OTCBB: PFNC): The Board of Directors of ParaFin Corporation (ParaFin) announces that as of May 1, 2007 Mr. Charles M. Gail has agreed to act as a drilling and well completion Petroleum Consultant for all petroleum-related matters including the recently signed Farmout Agreement with Meta Petroleum Ltd. (Meta) to acquire a 50% working interest in a Hydrocarbon Concession and operating oil field in the Republic of Colombia, South America.
Mr. Gail is completely bilingual in Spanish and English. When Mr. Gail retired from Texaco in 1987, he was General Superintendant of the Colombian Division of Texaco supervising 25,000 BOPD of oil production and 200 MMCF of gas production. Mr. Gail was called on by Texaco to help control all pressure problems that occurred in Colombia over thirty years. He was loaned to the Colombian Government Oil Company on two occasions during emergency situations.
Mr. Gail has had responsible positions overseeing projects in Bogota, Guajira, Putumayo and Velasquez in Colombia for Texaco prior to his retirement. He was responsible for the efficient operation of one to four land rigs drilling 6,000 to 14,000 foot wells, one offshore rig, both jack-ups and drillships drilling 5,000 to 17,000 foot offshore wells and two to six workover rigs. Prior to retiring from Texaco, he reviewed Texaco's Colombian marine operations and completed a logistics study for offshore operations.
Mr. Gail pioneered the effective utilization of helicopter rigs for exploration in remote areas of the Colombian jungle that were previously inaccessable.
After retiring from Texaco in 1987, from 1987 to 1992, Mr. Gail was retained as a Consultant by Texaco overseeing several projects both onshore and offshore Colombia.
ParaFin Corporation looks forward to the guidance that Mr. Gail will contribute to our South American Projects.