Magnus Energy Inc.

Magnus Energy Inc.

August 15, 2005 16:00 ET

Magnus Announces Staffing Appointments

CALGARY, ALBERTA--(CCNMatthews - Aug. 15, 2005) - Magnus Energy Inc. (TSX Venture:MEI.A) (TSX Venture:MEI.B) ("Magnus") is pleased to announce recent staffing appointments. Murray Stewart, President & CEO of Magnus said, "We at Magnus are very proud of the strength of the team that we have put together. We feel that Magnus is unique for a junior oil and gas company, in that our team is so solid across every discipline. We are very pleased to have such a tremendous reservoir of energy, ability and experience to drive Magnus forward."

Wayne Dowhaniuk, Vice President, Operations - Mr. Dowhaniuk has 26 years of experience in the oil and gas industry primarily in production operations management, strategic planning, commodity marketing and asset evaluation. Mr. Dowhaniuk gained varied production and operations experience while at PetroCanada and was President & CEO of publicly traded Wolverine Energy Corp. Most recently, Mr. Dowhaniuk was Manager, Technical Services at APF Energy Inc. responsible for drilling and completions, production engineering, commodity marketing and corporate reserves.

Shona J. Gillis, Vice President, Land - Ms. Gillis has over 22 years of land/commercial negotiation experience in the oil and gas industry. Since 2003, Ms. Gillis was Senior Landman at NAL Resources Limited, handling negotiations in the Alberta and Saskatchewan Business Units. Prior thereto, she was Land Advisor for ExxonMobil Canada/Mobil Oil Canada, negotiating business transactions and assembling land positions in a variety of jurisdictions from British Columbia to Ontario, in positions of increasing responsibility. Prior to 1987, Ms. Gillis worked in the Land Department of Chevron Canada Resources in both Alberta and British Columbia.

Stewart Larsen, Chief Financial Officer - Mr. Larsen is a Certified Management Accountant (CMA) who has worked in the oil and gas industry for over 27 years. From March 1998 to August 2005, he was the Controller of Mesquite Exploration Ltd. and its successor High Point Resources Inc. until the Company was sold. Prior to that, he worked for several junior oil & gas companies including seven years with Corexcana Inc. and seven years with Westburne Petroleum & Minerals Ltd.

Leslie Nagel, Manager, Accounting - Ms. Nagel has over 24 years of accounting experience, with 9 years in the oil and gas industry working for Calver Resources Inc., Gildex/Citadel Resources Ltd., and various positions with Shiningbank Energy Ltd., Rock Creek Resources Ltd. and Oil & Gas Accounting Ltd. Prior to that, Ms. Nagel worked in various staff and supervisory accounting positions with the C.R.H.A. for 15 years.

Rounding out the Magnus team is:

Paul J. Poscente, VP, Exploration

Paul Poscente is a professional geologist with over 22 years of petroleum exploration experience. From 2002 to 2005, Mr. Poscente served as Vice President Exploration at Flowing Energy Corporation. Prior to that he worked in a variety of exploration roles for Paramount Resources Ltd., Canadian Hunter Exploration, Pan East Petroleum, Grad and Walker Energy and Norcen Energy Resources.

Murray M. Stewart, President, CEO and Director - Mr. Stewart has over 23 years of oil and gas Operations and Management experience. From 2000 to 2005, he held various Management roles with APF Energy Inc. and NAL Resources Ltd. Prior to that Mr. Stewart managed and worked in all aspects of operations such as drilling, completions, facilities, production, reservoir engineering, exploitation, and acquisition and divestitures for Beau Canada Exploration Ltd. and Talisman Energy Inc./BP Exploration Canada Limited.

ADVISORY: Certain information regarding Magnus Energy Inc. including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with oil and gas exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environment risks, competition from other producers and ability to assess sufficient capital from internal and external source. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

15,415,000 Class A Shares

1,044,000 Class B Shares

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

Contact Information

  • Magnus Energy Inc.
    Murray M. Stewart
    President and Chief Executive Officer
    (403) 215-2426
    Magnus Energy Inc.
    Suite 1420, 1122 - 4th Street S.W.
    Calgary, Alberta T2R 1M1
    (403) 215-2426
    (403) 261-6601 (FAX)