Central Alberta Well Services Corp.
TSX VENTURE : CWC

Central Alberta Well Services Corp.

October 08, 2010 12:37 ET

Central Alberta Well Services Announces Granting of Options

CALGARY, ALBERTA--(Marketwire - Oct. 8, 2010) - Central Alberta Well Services Corp. ("CWC" or the "Company") (TSX VENTURE:CWC) announces the granting of 100,000 stock options to the newly appointed Interim President and Chief Executive Officer. As announced October 4, 2010, Duncan Au was appointed Interim President and Chief Executive Officer. These options vest equally over a three year term and expire in five years. The issue price has been set by the Board of Directors at $0.25 per share.

About Central Alberta Well Services

Central Alberta Well Services is a premier well servicing company operating in the Western Canadian Sedimentary Basin with a complementary suite of oilfield services including coil tubing, snubbing, nitrogen, well testing and oilfield equipment rentals. The Company's corporate office is located in Calgary, Alberta, with operational locations in Red Deer, Provost, Brooks, and Grande Prairie, Alberta and Weyburn, Saskatchewan.

READER ADVISORY

Certain statements contained in this press release, including statements which may contain such words as "could", "should", "believe", "expect", "will", and similar expressions and statements relating to matters that are not historical facts are forward-looking statements, including, but not limited to, statements as to: improvement in the Well Servicing Segement, benefits to be derived from the new composition of the Board; business strategy; expansion and growth of the Company's business and operations; and other matters. Management has made certain assumptions and analyses which reflect their experiences and knowledge in the industry, including, without limitations, assumptions pertaining to well services demand as a result of commodity prices. These assumptions and analyses are believed to be accurate and truthful at the time, but the Company cannot assure readers that actual results will be consistent with these forward-looking statements. However, whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to, known and unknown risks and uncertainties which could cause actual results to differ materially from the Company's expectations. All forward-looking statements made in the press release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected outcomes to, or effects on, the Company or its business operations. The Company does not intend and does not assume any obligation to update these forward-looking statements, except as expressly required to do so pursuant to applicable securities laws. Any forward-looking statements made previously may be inaccurate now.

Common Shares: 158,739,363

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Central Alberta Well Services Corp.
    Duncan T. Au CA, CFA
    Interim President & Chief Executive Officer
    (403) 264-2177
    duncanau@cawsc.com
    or
    Central Alberta Well Services Corp.
    Darcy A. Campbell, CMA
    Vice-President, Finance and Chief Financial Officer
    (403) 264-2177
    darcycampbell@cawsc.com
    or
    Central Alberta Well Services Corp.
    755, 255 - 5 Avenue SW
    Calgary, Alberta T2P 3G6
    (403) 264-2177