First Energy Africa Oil Corp. Strengthens Board with Appointment of Industry Veterans Simon Akit and Frederick Kozak

First Energy Africa Oil Corp. announced the addition of two seasoned industry veterans, Simon Akit and Frederick Kozak, to its board of directors, effective July 13, 2026. The appointments mark a strategic move to bolster the company’s governance structure and enhance its capabilities in navigating the complexities of the global energy sector. Both new board members bring extensive experience in capital markets, resource management, and international operations, aligning with the company's long-term goals of sustainable growth and value creation in sub-Saharan Africa. The appointments were made following a formal announcement issued by the company from Calgary, Alberta. Simon Akit, a founding partner of a resource advisory firm, joins the board with over 25 years of experience in Canadian and U.S. capital markets. His career includes leading major fundraising efforts for resource companies, raising more than $5 billion in equity and debt financing across North America, Europe, and Asia. Akit also possesses seven years of hands-on experience in engineering and operations within the resource industry. He holds an MBA from the Rotman School of Management at the University of Toronto and is a licensed Professional Engineer through the Association of Professional Engineers and Geoscientists of Alberta (APEGA). Frederick Kozak, formerly a research analyst at Canaccord Genuity, contributes more than four decades of expertise in the resource and capital markets sectors. His work has focused particularly on opportunities in Africa and South America, areas central to First Energy Africa Oil’s operational strategy. Kozak earned his MBA from the Ivey School of Business at the University of Western Ontario and is a Professional Engineer with lifetime membership in Alberta’s regulatory body. He currently serves on the boards of both public and private entities, demonstrating a track record of leadership and strategic oversight. Jeff Ruskowsky, president of First Energy Africa Oil, emphasized the importance of the new additions to the board. “Simon and Fred are bringing complementary technical and capital markets seniority required for our complex business,” he stated. “We are confident their contributions will set the right approach on our strategic priorities.” This statement underscores the company’s commitment to leveraging the expertise of these individuals to guide its expansion and operational initiatives in sub-Saharan Africa. First Energy Africa Oil Corp., a privately held Canadian corporation, operates under a clear mandate to pursue exploration and block acquisitions in the region. Headquartered in Calgary, the company aims to deliver responsible value extraction from its resource portfolio while maintaining rigorous adherence to governance and sustainability principles. The recent board appointments reflect a broader effort to strengthen the organization’s capacity to manage the challenges and opportunities inherent in operating within diverse and often volatile environments. Both Akit and Kozak have established themselves as respected figures within the energy and finance industries. Their inclusion on the board signals a deliberate shift toward greater specialization and regional focus, particularly in emerging markets where the company seeks to expand its footprint. As they begin their roles, the expectation is that their insights will play a pivotal part in shaping the company’s future direction and enhancing its competitive position in the global energy landscape.