Arrow Energy Ltd.
TSX VENTURE : AOF

Arrow Energy Ltd.

August 01, 2008 15:25 ET

Arrow Announces Appointments of Executive Director and Vice President

EDMONTON, ALBERTA--(Marketwire - Aug. 1, 2008) - Arrow Energy Ltd. (TSX VENTURE:AOF) ("Arrow") announces that Richard Edgar has been appointed Executive Director overseeing all of the affairs of Arrow to replace Chris Tesarski who has resigned as President and Chief Executive Officer of Arrow effective July 31, 2008. Mr. Edgar has extensive experience in the oil and gas industry having been President of several public oil and gas companies including Energy North Inc. and Avery Resources Inc. Arrow wishes to thank Mr. Tesarski for his service and acknowledge his significant contributions.

Arrow also announces that Sandford Gauchier, a director of Arrow, has been appointed as Vice President of Surface Operations of Arrow. Mr. Gauchier has extensive knowledge of the Northern communities and experience working with aboriginal and Metis settlements. Mr. Gauchier will be a great addition to Arrow furthering its goals with respect to the exploration and development on Alberta Metis settlements and on First Nations' Reserves.

As part of Mr. Gauchier's employment package, he will receive 100,000 stock options to purchase common shares of Arrow at an exercise price of $0.17 per common share effective August 1, 2008 pursuant to Arrow's stock option plan. The stock options expire July 31, 2013.

Arrow is a Calgary-based junior resource company engaged in the exploration, development and production of natural gas and oil primarily in the Peavine/Dawson, Westlock, and Redwater/Jeffrey areas of Alberta.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Arrow Energy Ltd.
    Richard N. Edgar
    (403) 237-9996 or Toll-free: 1-866-528-9996
    (403) 264-0416 (FAX)