Bonterra Energy Corp.

Bonterra Energy Corp.

December 05, 2008 23:59 ET

Bonterra Oil & Gas Limited Announces Senior Management Changes

CALGARY, ALBERTA--(Marketwire - Dec. 5, 2008) - Bonterra Oil & Gas Ltd. (Bonterra or the Company) (www.bonterraenergy.com) (TSX:BNE) announced today that George F. Fink, Director, Chief Executive Officer and former President and the Board of Directors have elected to transfer to Randy M. Jarock the role of President along with his present position of Chief Operating Officer, effective immediately. Mr. Fink will continue to fulfill the role and responsibilities of Chief Executive Officer.

Mr. Jarock has been with Bonterra since its inception in 2001 and has held several positions with increased responsibility throughout the years. He was promoted to Chief Operating Officer in 2007 and in his new role will also be responsible for administration of day to day activities in other Company operations as part of the management team.

Mr. Jarock's career in the oil and gas industry spans more than 20 years. After completing his Bachelor of Science in Petroleum Engineering at the University of Alberta, Mr. Jarock worked for major oil and gas companies before joining Comstate Resources Ltd. as Operations Manager in 1994, later spun-off to Bonterra Energy Corp.

About Bonterra:

Bonterra Oil & Gas Ltd. is a high-yield, dividend paying oil and gas company headquartered in Calgary, Alberta. It recently converted to a corporation from an income trust and intends to continue with a cash dividend policy similar to the distribution policy previously followed by the trust. The monthly dividend amount will continue to be determined by commodity prices and production volumes.

Bonterra's asset base consists of concentrated, stable and producing properties located mainly in the Pembina field in central Alberta and are characterized by a long reserve life and low risk, predictable returns. Bonterra's proven track record of success is due to its experienced management team, conservative capital structure and sustainable pace of development, resulting in above-average results and returns for investors.

%SEDAR: 00017467E

Contact Information

  • Bonterra Oil & Gas Ltd.
    George F. Fink
    President, and CEO
    (403) 262-5307
    Fax: (403) 265-7488
    or
    Bonterra Oil & Gas Ltd.
    Garth E. Schultz
    Vice President - Finance, and CFO
    (403) 262-5307
    Fax: (403) 265-7488
    or
    Bonterra Oil & Gas Ltd.
    Kirsten Kulyk
    Manager, Investor Relations
    (403) 262-5307
    Fax: (403) 265-7488
    info@bonterraenergy.com
    www.bonterraenergy.com