Former U.S. Deputy Secretary Of Energy Emil Pena Joins Genoil's Advisory Board

Genoil is pleased to announce that Emil Peña will be joining Genoil's Advisory Board effective immediately. Emil Peña served in the U.S. Department of Energy as the Deputy Assistant Secretary for the Office of Natural Gas and Petroleum Technology, Office of Fossil Energy. In this position, he was responsible for administering oil and gas programs including research and development, planning and environmental analysis, and import and export activities on behalf of the U.S. government.

"Mr. Peña is superbly qualified to join the advisory board. He has a proven track record of successful leadership, and his expertise in the oil and gas industry, as well as his extensive energy and political contacts including the Department of Energy will help Genoil to accelerate the execution of their business model," stated Chairman and CEO David Lifschultz. Mr. Peña's decision to join Genoil's advisory board came after conducting detailed due diligence on Genoil that included meetings with Genoil's engineers, as well as analyzing the input of heavy oil and output of lighter oil at Genoil's pilot refinery in Two Hills, Alberta.

Mr. Peña said: "I am excited at the prospects for Genoil, and am happy because the company represents a combination of business, energy technology, and environmental activism that is important and reflects my own priorities. The Genoil upgrader will improve light oil output for refiners and heavy oil producers, increase refiner's profit margins while contributing to meeting worldwide government mandates for ultra low sulfur fuels that are needed to protect the environment. In short, this is a major piece of technology solving the oil dilemma."

Genoil is a technology development company providing solutions to the oil and gas industry through the use of proprietary technologies. The Genoil Hydroconversion Upgrader can economically convert heavy crude oil into more valuable light refined products such as motor gasoline and diesel fuel, while significantly reducing the sulfur content in the oil. Genoil's shares are listed on the TSX Venture Exchange under the symbol GNO, as well as on the OTC Bulletin Board under GNOLF.OB.

For more information on Genoil visit www.genoil.net.