Sun Resources appoints non-executive director to the board

Sun Resources (ASX: SUR) has invited John Kenny to join the board as a non-executive director, effective from 1 March 2012.

Chairman Dr Wolf Martinick said, “We are pleased that Mr Kenny has joined the board, particularly as he is one of the vendors of the Delta Oil Project.

“Mr Kenny’s knowledge of the U.S. unconventional oil and gas exploration and production sector, and the network he has developed as a result of his involvement in the sector will assist Sun Resources to add value to the Delta Oil Project.”

Through his practise of corporate and mining law and investment banking, Kenny has advised a number of ASX-listed companies in the areas of equity and debt finance.

Kenny has been a director of several ASX-listed companies and is currently on the board of Gippsland Limited (ASX: GIP).

Sun Resources now controls a 100% working interest in a total of 6,803 acres of leases in the Delta Oil Project, which is situated along trend of a prolific oil and gas fairway in Texas.

The company will continue to work with the vendor to complete what appears to be a low risk acquisition of the target 10,000 acres, subject to completion of due diligence.

Announced in 2011, independent consulting firm Ralph E. Davis estimated unrisked 10 million barrels of net prospective oil Resources in one sand unit of the Delta Oil Project.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24664/sun-resources-appoints-non-executive-director-to-the-board-24664.html