Tenergy Ltd.

Tenergy Ltd.

March 20, 2006 20:41 ET

Tenergy Ltd. Announces New Directors and Officers

CALGARY, ALBERTA--(CCNMatthews - March 20, 2006) - Tenergy Ltd. ("Tenergy") (TSX:TGY) announced on March 14, 2006 that FRQ Acquisition Corp. ("FRQ"), as nominee of Quintana Canada Corp., was successful in its takeover offer (the "Offer") for Tenergy and that in order to acquire 90% of the issued and outstanding shares of Tenergy, FRQ was extending the Offer until 1:01 a.m. on March 28, 2006.

In connection with FRQ's acquisition of control of Tenergy, James C. Smith, Murray B. Todd and Harry B. Wheeler resigned as directors of Tenergy effective March 16, 2006 and were replaced by J. Hardy Murchison, Warren S. Hawkins and Mark R. Smith. Further, upon the appointment of these new directors, Jan M. Alston, Bruce J. Murray and William S. Osler resigned as directors of Tenergy, and as Chief Executive Officer, President and Secretary, respectively, effective March 16, 2006.

Tenergy would also like to announce the appointments of Harvey R. Klingensmith as President and Randy O. Litun as Vice President, Engineering and Business Development.

Additional information about the Offer and copies of the take-over bid circular may be obtained from shareholders' investment advisers or on www.sedar.com.

Contact Information

  • Tenergy Ltd.
    Harvey Klingensmith
    (403) 355-3369