CWC Energy Services Corp.

CWC Energy Services Corp.

October 08, 2014 16:00 ET

CWC Energy Services Corp. Announces Changes to Management Team

CALGARY, ALBERTA--(Marketwired - Oct. 8, 2014) - CWC Energy Services Corp. ("CWC" or the "Company") (TSX VENTURE:CWC) is pleased to announce the promotion of Ms. Karen Dilon, CA, to the position of Vice President, Finance and Controller effective immediately.

Ms. Dilon is a Chartered Accountant with over 14 years of accounting and finance experience with the last 8 years being in the oilfield services sector. She has been CWC's Corporate Controller for over 6 years. Prior to CWC, Ms. Dilon was the Corporate Controller for Collicutt Energy Services and spent 6 years with increasing responsibilities with MNP and Collins Barrow Chartered Accountants. "We are pleased to promote Karen to our senior management team and look forward to her financial leadership as we continue to significantly grow our Company," said Duncan Au, President and Chief Executive Officer.

In conjunction with Ms. Dilon's appointment, CWC has accepted the resignation of Ryan A. Michaluk as Chief Financial Officer of the Company. Ms. Dilon has been appointed interim Chief Financial Officer until a suitable replacement is found for Mr. Michaluk. The Board of Directors would like to thank Mr. Michaluk for his contributions to CWC and wish him success in his future endeavors.

About CWC Energy Services Corp.

CWC Energy Services Corp. is a premier contract drilling and well servicing company operating in the Western Canadian Sedimentary Basin with a complementary suite of oilfield services including drilling rigs, service rigs, coil tubing and well testing. The Company's corporate office is located in Calgary, Alberta, with operational locations in Nisku, Grande Prairie, Slave Lake, Red Deer, Lloydminster, Provost and Brooks, Alberta and Weyburn, Saskatchewan. The Company's shares trade on the TSX Venture Exchange under the symbol "CWC".

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.

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: the Company's present stated business objectives of becoming a contract drilling and well servicing company in Western Canada and the anticipated use of the cash proceeds received from the sale. Management has made certain assumptions and analyses which reflect their experiences and knowledge in the industry, including, without limitations, assumptions pertaining to drilling and well servicing 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.

Contact Information