ERCB Issues Section 106 Declaration Naming an Oil Executive

CALGARY, ALBERTA--(Marketwired - May 14, 2013) - In Decision 2013 ABERCB 007, the Energy Resources Conservation Board (ERCB) has issued a Declaration that names Timothy M. Cooney under Section 106 of the Oil and Gas Conservation Act (OGCA) after a process that included a public hearing.

The ERCB decision concludes that Cooney was in direct control of SynCo Resources Inc. (SynCo) when the company failed to comply with thirteen abandonment orders and one miscellaneous order between March 2009 and April 2010.

ERCB Decision also notes that Cooney's disregard of ERCB direction and orders has cost the Orphan Well Association in excess of $1.59 million in abandonment costs and put the public and environment at risk.

The declarations carry a number of restrictions, including:

• The ERCB may refuse to consider any application from Timothy M. Cooney or any company over which Cooney is, in the opinion of the ERCB, a director, officer, agent, or other person in direct or indirect control.
• The ERCB may suspend operations of a licensee or approval holder under the OGCA or a licensee under the Pipeline Act over which Cooney, in the opinion of the ERCB, is a director, office, agent of other person in direct or indirect control.

The declarations are in force immediately and will remain indefinitely.

The ERCB has the authority, under the OGCA, to issue a declaration naming individuals (directors, officers, agents or other persons) in control of licensees, approval holders or working interest participants that have failed to comply with Board Orders, or which have outstanding debts to the ERCB, or to the Orphan Fund with respect to incurred suspension, abandonment, and reclamation costs.

BROADCAST COPY: The ERCB today issued a decision that prevents Mr. Timothy M. Cooney from being involved or in control of any Alberta oil and gas company that holds licenses or approvals from the ERCB for an indefinite period of time. The ERCB decision results from Mr. Cooney's failure to comply with fourteen Board orders. In issuing its decision, the ERCB notes that Cooney's disregard of ERCB direction and orders cost the Orphan Well Association in excess of $1.59 million in abandonment costs and needlessly placed the public and environment at risk.

2013 ABERCB 007 and this news release are available at ercb.ca.