Cordy Oilfield Services Inc.

Cordy Oilfield Services Inc.

November 14, 2005 20:04 ET

Cordy Appoints New CFO and Grants Options

CALGARY, ALBERTA--(CCNMatthews - Nov. 14, 2005) - CORDY OILFIELD SERVICES INC. (the "Corporation") (TSX VENTURE:CKK) is pleased to announce that Robert D. Ashauer has been appointed as the Corporation's Chief Financial Officer effective immediately.

Mr. Ashauer is a chartered accountant with fifteen years experience in business. He has had experience in private and public financings and related regulatory compliance. Mr. Ashauer replaces Mr. Robert Waddell as CFO and Mr. Waddell will continue to serve on the Corporation's board of directors.

The Corporation has granted stock options to Mr. Ashauer enabling him to purchase 175,000 shares in the Corporation at $1.50 per share.

Stock options were granted to other officers and directors of the Corporation, exercisable at $1.18 per share, as follows:

- 100,000 options to Sid Dutchak, President and CEO

- 60,000 options to Robert Waddell, Director

- 30,000 options to Grant Kook, Director

An additional total of 150,000 options were granted to other employees of the Corporation at the exercise price of $1.18.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Cordy Oilfield Services Inc.
    David Orr
    Vice President - Corporate Development
    (403) 266-2067
    (866) 854-8075 (FAX)