HOUSTON, April 14, 2005 (PRIMEZONE) -- Transmeridian Exploration, Inc. (AMEX:TMY) (OTCBB:TMXN) has named a new director. Dr. J. Fernando Zuniga y Rivero has joined the Board of Directors filling the vacancy from the retirement of Mr. Angus Simpson. Dr. Zuniga y Rivero is currently the Chairman of BPZ Energy Inc., a Texas oil and gas corporation with holdings primarily in Peru, South America. Dr. Zuniga y Rivero has worked for over fifty years in the international energy industry. Starting as an exploration geologist and biostratigrapher, he became the exploration head of an Exxon affiliate and continued as exploration and production manger, integrated operation manager. He ultimately became general manager, chairman and CEO of Petroleos Del Peru, the national oil company of Peru. Subsequently as Energy Division project officer of The World Bank, he planned and implanted exploration and production projects in 58 countries, mainly in East and West Africa, Eastern Europe, Russia, Southeast Asia and Latin America. Holding a B.Sc. in Physics and Geological Sciences from San Agustin University in Arequipa, Peru, he carried on post graduate studies in Palentology and Stratigraphy at the University of California (Los Angeles) and was awarded a Ph.D. in Geological Sciences by the University of San Agustin in Arequipa, Peru. Dr. Zuniga y Rivero has authored numerous technical publications and maintains membership in several professional associations including the New York Academy of Sciences, American Association of Petroleum Geologists, and the Houston Geological Society.
Management Comments
"We are very fortunate to be able to attract someone with the talent and vast experience as Dr. Zuniga y Rivero. The Board looks forward to utilizing his skills and experiences as we continue to grow the company," commented Lorrie Olivier, President & CEO.
About Transmeridian Exploration, Inc.
Transmeridian Exploration, Inc. (TMY) is an independent energy company established to acquire and develop oil reserves in the Caspian Sea region of the former Soviet Union. TMY primarily targets medium-sized fields with proved or probable reserves and significant upside reserve potential. Its first major project is the South Alibek Field in Kazakhstan.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created therein. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to those discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2003. Although Transmeridian Exploration, Inc. believes the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion herein should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
TMEI discloses proved reserves that comply with the Securities and Exchange Commission's (SEC) definitions. Note that the Company's use of terms such as "probable oil resources", "probable reserves", "possible oil resources", "ultimate potential", "resources" and "recoverable reserves" include quantities of oil that are not yet classified as proved and which SEC guidelines do not allow us to include in filings with the SEC.