Osum Announces Changes To Management

Osum Oil Sands Corp. has announced several changes to management.

Steve Spence, P.Eng., currently president and chief operating officer of Osum, will be assuming the role of president and chief executive officer. Spence has over 21 years of conventional and heavy oil experience, primarily with Shell. He has extensive experience in thermal heavy oil production and development as well as in unconventional oil recovery including CO2 and miscible flooding in both sand and carbonate reservoirs.

Richard Todd, currently chairman and CEO of Osum, will be resigning from his current day-to-day role as CEO effective Aug. 1, 2010, but will be continuing as chairman of the board of directors. Todd is currently serving on the board of governors of the Canadian Association of Petroleum Producers (CAPP) and as chair of the markets and transportation committee. He is a cofounder and director of the In Situ Oil Sands Alliance (IOSA), an industry association in Canada focused on in situ development. He is also currently a director of several private companies.

"Richard Todd has been a real leader in the development and building of Osum over the past four years. The company will continue to draw on Richard's leadership through his role as chairman of the board," Osum said in a news release.

Osum is a privately held Alberta based company focused on the application of in situ recovery technologies within Canada's oilsands and carbonates..