Xtreme Coil Drilling Corp.
TSX : XDC

Xtreme Coil Drilling Corp.

April 02, 2009 13:24 ET

Xtreme Coil Announces CFO, New Exporter Award

CALGARY, ALBERTA--(Marketwire - April 2, 2009) - Xtreme Coil Drilling Corp. ("Xtreme Coil", the "company") (TSX:XDC) announces executive changes recently approved by the board of directors and recognition as an exporter of new Coil Over Top Drive® ("COTD™") drilling rigs.

Elizabeth T. Wilkinson appointed Chief Financial Officer ("CFO")

Effective March 31, 2009, Xtreme Coil welcomes the appointment of Elizabeth Wilkinson as Chief Financial Officer, based in Houston, Texas. Ms. Wilkinson joins Xtreme Coil with more than twenty years of energy industry experience in sectors including contract drilling, upstream oil and gas exploration and production ("E&P"), and midstream natural gas gathering and processing. Prior to joining Xtreme Coil, Ms. Wilkinson served as Vice President, Investor Relations and Treasurer of Eagle Rock Energy Partners, L.P., Vice President and Treasurer of Kerr-McGee Corporation, and held increasingly senior roles in corporate finance, mergers and acquisitions, accounting, investor relations, and systems while at GlobalSantaFe (formerly Global Marine). Ms. Wilkinson holds an MBA in finance and a BSBA in quantitative management from the University of Florida. As Xtreme Coil's CFO, Ms. Wilkinson will contribute to the analysis and execution of future corporate transactions and be instrumental in developing the appropriate corporate infrastructure to build our international profile.

With the transition of the CFO position to Houston, the board of directors acknowledges the significant contribution of Vic Fitch, who has stepped down as CFO. Mr. Fitch joined the organization in 2006, was instrumental in Xtreme Coil's start-up, and contributed his expertise to activities resulting in Xtreme Coil's growth to date, particularly the assembly of financial structure and systems required for public company reporting. Mr. Fitch will remain in Calgary and has agreed to continue with Xtreme Coil during a transition period and to provide his expertise to ongoing and future special projects.

Alberta Export Award - New Exporter

On March 25, 2009, Xtreme Coil Drilling Corp. won the "New Exporter" category at the inaugural Alberta Export Awards event hosted in Edmonton by the Alberta division of Canadian Manufacturers and Exporters (CME-Alberta) with participation of a number of senior representatives from industry and government. CME-Alberta cited the inaugural Alberta Export Awards as recognizing "the province's very best exporters" and highlighting "the export industry's significant contribution to Alberta's economy". Further, he commented, "All of the winning companies demonstrate the drive, innovation and competitiveness that is necessary to succeed in foreign markets around the world."

Corporate Profile

Xtreme Coil develops and applies leading edge patented and patent-pending technology and designs to build, transport, and operate new COTD™ drilling rigs. Currently contracted in the United States and Mexico and marketed to other international regions, Xtreme Coil's innovative, dual-purpose and efficient rigs drill with larger coil to reach hydrocarbons in deeper horizons. Xtreme Coil's proprietary technology also features modular transportation units, larger coil injectors and new methods for achieving deeper, faster and safer drilling. Xtreme Coil's common shares trade on the Toronto Stock Exchange ("TSX") under the symbol "XDC".

Contact Information

  • Xtreme Coil Drilling Corp.
    Tom Wood
    Executive Chairman
    (403) 262-9500
    (403) 262-9522 (FAX)
    or
    Xtreme Coil Drilling Corp.
    Rod Uchytil
    President and Chief Executive Officer
    (403) 262-9500
    (403) 262-9522 (FAX)
    or
    Xtreme Coil Drilling Corp.
    1402, 500 Fourth Avenue SW
    Calgary, Alberta T2P 2V6
    Email: ir@xtremecoil.com
    Website: www.xtremecoildrilling.com