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Slavko Scepanovic Joins Genoil Inc. as Senior Vice President of Engineering and Projects

NEW YORK, NEW YORK -- (Marketwired) -- 05/08/14 -- Genoil Inc. (OTCBB: GNOLF) - Mr. Scepanovic has extensive experience in project finance and has raised over a billion dollars for acquisitions and projects. He will be managing all of Genoil's engineering projects, and will participate in project finance. Slavko also has vast experience working with EPC contractors.

Mr. Scepanovic was recently First Deputy Director and Director Advisor of the Optima Group. In his six plus years there he was involved in the founding and organization of Optima for the Russian firm Zarubezhneft. Optima was established by Zarubezhneft which is a leading state controlled oil and gas company based in Moscow specializing in exploration, development and operations of oil and gas fields outside Russian Territory.

"Slavko has an extensive background in EPC construction, securing project financing and acquisitions. He will be a tremendous asset to Genoil, and he is joining the firm at the perfect moment," says Bruce Abbott President & C.O.O.

"I am excited to be joining Genoil as they are about to close major contracts," says Slavko Scepanovic.

Prior to his role in Optima, Mr. Scepanovic was based in Moscow for a decade as the Deputy Director of Synergie Trading GMBH, Jupiter Investments LLC. Some of Mr. Scepanovic's responsibilities were to assist with companies looking to invest and in need of financial support for upgrading their plants and equipment. At these firms he conducted feasibility studies and obtained financing for large projects.

Slavko is presently interviewing engineers for our European engineering department.

About:

Genoil Inc. is an international engineering technology development company based in Alberta, Canada with offices in the USA, Sweden, Bosnia, UAE, Saudi Arabia that has pioneered an efficient oil desulfurization upgrading technology, oil and water separation and technologies, for the oil and gas and marine industries. Genoil has 147 acre land holdings in Two Hills Canada with 2500 acres of mineral rights and a large design test facility. Genoil has a partnership in the United Arab Emirates with the first born son of Khalifa bin Zayed Al Nahyan, who is the ruler there. The company is called Genoil Emirates. Genoil also has a relationship with a large EPC contractor.

ADVISORY: Certain information regarding the company, including management's assessment of future plans, contact values, completions dates, operations, profitability and the uses of the company's technology, may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with oil and gas technologies, production, refining, marketing and transportation such as loss of market, volatility of prices, environmental risks, competition from other technologies, the effectiveness of the company's technologies and ability to access sufficient capital from internal and external sources; as a consequence, actual results may differ materially from those anticipated. The company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements.

Contacts:
Investor Relations
(212) 688-8868
www.Genoil.ca

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