Central Alberta Well Services Corp.
TSX VENTURE : CWC

Central Alberta Well Services Corp.

October 04, 2010 08:00 ET

Central Alberta Well Services Corp. Announces Appointment of Interim President and Chief Executive Officer

CALGARY, ALBERTA--(Marketwire - Oct. 4, 2010) - Central Alberta Well Services Corp. (TSX VENTURE:CWC) ("CWC" or the "Company") announces that it has appointed Duncan T. Au, CA, CFA as interim President and Chief Executive Officer of the Company. Darryl E. Wilson has resigned as President and Chief Executive Officer of the Company; additionally Mr. Wilson has concurrently resigned from the board of directors. Mr. Au is and will continue to be a director of the Company. 

The Board of Directors of the Company have begun a search to identify candidates for the permanent role of President and Chief Executive Officer. CWC Chairman, Jim Reid, noted "Central Alberta Well Services Corp. is fortunate to have Duncan available to lead the Company on an interim basis and execute strategies he helped establish as a member of the Company's Board of Directors. Under Duncan's direction, I am confident that the Company will continue providing exceptional service for its customers along with a safe work environment for its employees and look forward to working with Duncan to improve CWC's profitability and returns for its shareholders."

Mr. Au is President and Chief Executive Officer of JAFETICA Capital Inc., a private equity firm specializing in energy service opportunities. He was Vice President, Business Development and Chief Financial Officer of Essential Energy Services Trust prior to its business combination with Builders Energy Services Trust and was previously President and Chief Executive Officer of Richmound Energy Services L.P. prior to its sale to Avenir Diversified Income Trust. Mr. Au has a corporate finance background and in the past served in Vice President positions with both Ernst & Young and Deloitte Corporate Finance.

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.

Common Shares: 158,739,363

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Contact Information

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