Central Alberta Well Services Corp.
TSX VENTURE : CWC

Central Alberta Well Services Corp.

December 20, 2010 16:00 ET

Central Alberta Well Services Corp. Announces Issuance of Stock Options

CALGARY, ALBERTA--(Marketwire - Dec. 20, 2010) - Central Alberta Well Services Corp. ("CWC" or the "Company") (TSX VENTURE:CWC) announces that options to purchase 3,945,000 common shares of the Company were granted on December 17, 2010 to officers and employees of the Company at an exercise price of $0.25 per share. These options expire five years from the date of grant with one third of the options vesting on each of the first, second and third year anniversary from the date of grant.

About Central Alberta Well Services Corp.

Central Alberta Well Services Corp. is a premier well servicing company operating in the Western Canadian Sedimentary Basin with a complementary suite of oilfield services including service rigs, coil tubing, snubbing, nitrogen and well testing. 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.

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: future capital expenditures, including the amount and nature thereof; revenue growth; equipment additions; business strategy; expansion and growth of the Corporation's business and operations; service rig utilization rates, outlook for natural gas prices and general market conditions 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 Corporation 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 Corporation's expectations and predictions is subject to known and unknown risks and uncertainties which could cause actual results to differ materially from the Corporation'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 Corporation will be realized or, even if substantially realized, that they will have the expected outcomes to, or effects on, the Corporation or its business operations. The Corporation 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.

READER ADVISORY - 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
    or
    Central Alberta Well Services Corp.
    755, 255 - 5 Avenue SW
    Calgary, Alberta T2P 3G6
    ir@cawsc.com