New West Energy Services Inc.
TSX VENTURE : NWE

February 01, 2011 18:24 ET

New West Energy Services Inc. Appoints New Officer & Issues Options

CALGARY, ALBERTA--(Marketwire - Feb. 1, 2011) - New West Energy Services Inc. (TSX VENTURE:NWE) (the "Corporation") announces that, subject to approval of the TSX Venture Exchange, Mr. Pardeep Sibia has been appointed Chief Financial Officer of the Corporation. Mr. Richard J. Collens has stepped down as the Chief Financial Officer of the Corporation but has been appointed the Chief Operating Officer of the Corporation's wholly-owned subsidiary, New West Drilling Fluids Inc. ("NWDF").

The Corporation also announces that it has today issued options to purchase 8,200,000 Common shares at $0.10 per share under the terms of the Corporation's Stock Option Plan. 5,100,000 of the options have been issued to senior management of the Corporation or its wholly-owned subsidiaries, NWDF and BearStone Environmental Solutions Inc. ("BSES"), and 3,100,000 of the options have been issued to other officers and directors and 19 employees of the Corporation, NWDF or BSES.

About New West Energy Services Inc.

The Corporation operates in the oil field service industry in Canada through its wholly-owned subsidiaries New West Drilling Fluids Inc. and BearStone Environmental Solutions Inc. . New West Drilling Fluids sells chemicals and provides field engineering services to oil and gas exploration and production companies. BearStone Environmental Solutions provides environmental services to the upstream oil and gas industry and operates a fleet of vacuum and water trucks.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • New West Energy Services Inc.
    Gerry E. Kerkhoff
    President & Chief Executive Officer
    1.888.977.2327 (BEAR) or 403.984.1978
    403.984.9799 (FAX)
    gkerkhoff@bearstoneenviro.com