Deepwell Energy Services Trust

Deepwell Energy Services Trust

July 11, 2007 23:59 ET

Deepwell announces board appointments

CALGARY--(Marketwire - July 11) -


Deepwell Energy Services Trust (Deepwell or the Trust) (TSX:DWL.UN) is pleased to announce the appointment of William P. Robinson to the Trust's Board of Trustees, and the appointment of Byron C. Lutes to the Board of Directors of Deepwell Energy Services Ltd., a subsidiary of the Trust.

Mr. Robinson is the President and a Director of Manvest Inc. a Calgary based private equity investment company. He previously held positions with the Loram Group of Companies including: V.P. and General Manager of the Bowfort Capital, Treasurer of the Loram Group and Manager, Finance of Pembina Resources Ltd. Prior to joining the Loram Group he was with Peat Marwick and Partners, an international management consulting firm. Mr. Robinson is well known and respected in the Canadian venture capital and merchant banking community and has participated in many private company financing and acquisitions. Mr. Robinson currently sits on the Board of Directors of a number of Canadian companies including: Softchoice Corp., Technologies, ENTx Capital Corporation, On-Line Support Inc., Associate Veterinary Clinics, Cross Oilsands contracting Ltd. and ListenUp Canada. He is currently a member of the Alberta Economic Development Authority.

Mr. Lutes is a professional engineer with over 20 years of industry experience. Mr. Lutes was appointed Vice President, Operations with Mancal Energy Inc. in February, 2003. Previously, Mr. Lutes was the Vice President, Engineering and Production for Hunt Oil Company of Canada and Vice President, Engineering for its predecessor Newport Petroleum Corporation. Prior to that, Mr. Lutes held various positions at Newport including Manager Exploitation and spent his first eight years at Suncor Energy in various engineering and marketing roles. He received a Bachelor of Science in Chemical and Petroleum Engineering degree from the University of Calgary in 1986. Mr. Lutes is a Board Member and Co-Chair of Synergy Alberta, a not for profit organization aimed at assisting and developing synergy groups within Alberta to reach workable solutions to land use, social and environmental concerns. Mr. Lutes is active within the Canadian Association of Petroleum Producers (CAPP) sitting on the Alberta Executive Policy Group and the National Aboriginal and Community Affairs Committee. Mr. Lutes is a member of the SPE and APEGGA.

As part of the Trust's overall governance program, Scott F. Gerecke, has resigned from the Board of Directors of Deepwell Energy Services Ltd. Mr. Gerecke is continuing in his capacity as Vice President Finance and CFO.

"We are delighted to have attracted the caliber of Trustee and Director we have in Mr. Robinson and Mr. Lutes", commented Jay Simmons, Chairman. "Mr. Robinson's extensive experience with growing businesses, and Mr. Lutes' depth and breath of experience with oil field operations will enhance the boards' overall ability to represent the best interests of unitholders. We look forward to Mr. Gerecke's tireless acumen as the Trust's Vice President Finance and CFO working with a more independent board of Directors".

Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Trust or its subsidiaries, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Deepwell's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Deepwell does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.

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