Moneta Energy Services Ltd.

Moneta Energy Services Ltd.

September 10, 2010 08:00 ET

Calgary's Moneta Energy Services Add Industry Veteran to Executive Team

Natural Gas Storage Developer Ready to Expand Operations

CALGARY, ALBERTA--(Marketwire - Sept. 10, 2010) - Rex H. Kary, President of Moneta Energy Services Ltd. is pleased to announce that Alex M. Douglas has joined the company as Vice President, Origination. Mr. Douglas has 30 years experience in the oil and gas industry, with the last 21 years in natural gas marketing. He built and managed a successful Canadian marketing division for over 10 years, then joined a large Canadian producer/marketer to develop a Western U.S. supply and marketing business.

As Vice President, Origination at Moneta Energy Services, Mr. Douglas will be taking charge of the company's market development, producer services, transportation, storage, fuel management, regulatory and structured risk arrangements.

Moneta is a Calgary, Alberta based natural gas storage developer with gas marketing and trading operations. The company is currently evaluating several gas storage projects, and has identified attractive reservoirs in Alberta with over 50 Bcf of storage capacity. Moneta is looking to partner with E&P companies to unlock additional value associated with depleted reservoirs that have the right attributes for gas storage. At the same time, Moneta is engaged in providing natural gas marketing services, products and solutions designed for producers, end-users and utilities. The company currently holds 2.75 BCF of storage at Dawn and trade over 150,000 MMCF per day at various hubs. Moneta has assembled strong financial backing, as well as a team of professionals that have been active in the natural gas industry since the late 1980's.

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