Deepwell Energy Services Trust

Deepwell Energy Services Trust

February 20, 2009 02:05 ET

Deepwell Energy Services Trust Announces Appointment of Sam Parrotta of the Onni Group to Board of Directors

CALGARY, ALBERTA--(Marketwire - Feb. 20, 2009) -


Deepwell Energy Services Trust (TSX:DWL.UN) ("Deepwell" or the "Trust") announced today that it has appointed Sam Parrotta to the board of Deepwell Energy Services Ltd., the administrator of the Trust, effective immediately.

Mr. Parrotta is the Chief Financial Officer of the Onni Group of Companies, a private real estate development, property management and investment holding company based in Vancouver, British Columbia, where he oversees the group's financial management and portfolio of equity investments. The Onni Group is a significant unitholder of Deepwell Trust units. Mr. Parrotta joined Onni Group in his present position in March 2006. Prior to joining Onni, he spent seven years with Ernst & Young Orenda Corporate Finance Inc., providing transaction advisory services related to mergers and acquisitions, divestitures and financings of both public and private corporations across a variety of industries. Mr. Parrotta is a graduate of Simon Fraser University with a Bachelor of Business Administration degree and has his Chartered Accountant designation.

In assuming his position on the board, Mr. Parrotta commented, "The Onni Group believes in the long-term outlook for the oilfield waste disposal business and for Deepwell. I look forward to participating with the board as it assists and guides Deepwell's management in the execution of Deepwell's growth strategy."

Mr. Parrotta will fill the position occupied by Leslie J. Weekes who has resigned from the board of directors. Ms. Weekes will continue to work with Deepwell as its External General Counsel.

Speaking for the board, Deepwell Chairman Jay Simmons said, "We want to thank Leslie for her contributions while on the board and we look forward to her continued assistance as Deepwell's counsel. We welcome Sam to the Deepwell board and are pleased that the Onni Group has recognized Deepwell's growth prospects and is willing to become more actively involved in helping us capitalize on them."

Deepwell Energy Services Trust is a Calgary, Alberta-based income trust focused exclusively on providing waste treatment and disposal services to the oil and natural gas industry in western Canada.

Additional information about the Trust is available at and on the Trust's website at

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 could cause actual results to differ materially from the results discussed in the forward-looking statements.

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