CALGARY, May 14 /CNW/ - Compton Petroleum Corporation (TSX - CMT, NYSE -
CMZ) wishes to announce the resignation of Mr. Tim Millar, Vice President,
General Counsel & Corporate Secretary, to pursue other opportunities effective
May 31, 2009. The Company also announces that Mr. David Horn will join Compton
in a new position as Vice President, Business Development and Land, effective
May 19, 2009.
Mr. Horn's career spans over 25 years of acquisition and divestiture and
land experience in the petroleum industry, having executed over $5 billion in
corporate and asset acquisitions and divestitures during this time.
Previously, he was President of The Oil and Gas Asset Clearinghouse, managing
the company's Calgary office. Prior to that, Mr. Horn held various senior
positions in land, acquisitions and divestitures at several companies,
including Tristone Capital Inc., EnCana Corporation, PanCanadian Petroleum,
Altana Exploration and Amoco Canada Petroleum Company Ltd.
He holds a Bachelor of Arts in Economics from the University of Calgary.
Mr. Horn has been an active member of several professional associations,
including the Canadian Association of Petroleum Landmen and the American
Association of Petroleum Landmen. He presently serves on the Board of
Directors of the Petroleum Acquisition and Divestiture Association.
"I would like to sincerely thank Tim for his contribution to Compton over
his tenure here," said Tim Granger, President and Chief Executive Officer.
"He's provided legal counsel and direction since the Company became public in
the mid-1990s. On behalf of the Board and the Company, I wish him well in his
Mr. Granger continued, "I would like to welcome David Horn to the
Company. David enters into a new role at Compton, providing extensive business
development and land experience that will be instrumental to our future
Forward Looking Statements
Certain information regarding the Company contained herein constitutes
forward-looking information and statements and financial outlooks
(collectively, "forward-looking statements") under the meaning of applicable
securities laws, including Canadian Securities Administrators' National
Instrument 51-102 Continuous Disclosure Obligations and the United States
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include estimates, plans, expectations, opinions, forecasts, projections,
guidance, or other statements that are not statements of fact, including
statements regarding (i) cash flow and capital and operating expenditures,
(ii) exploration, drilling, completion, and production matters, (iii) results
of operations, (iv) financial position, and (v) other risks and uncertainties
described from time to time in the reports and filings made by Compton with
securities regulatory authorities. Although Compton believes that the
assumptions underlying, and expectations reflected in, such forward-looking
statements are reasonable, it can give no assurance that such assumptions and
expectations will prove to have been correct. There are many factors that
could cause forward-looking statements not to be correct, including risks and
uncertainties inherent in the Company's business. These risks include, but are
not limited to: crude oil and natural gas price volatility, exchange rate
fluctuations, availability of services and supplies, operating hazards, access
difficulties and mechanical failures, weather related issues, uncertainties in
the estimates of reserves and in projection of future rates of production and
timing of development expenditures, general economic conditions, and the
actions or inactions of third-party operators, and other risks and
uncertainties described from time to time in the reports and filings made with
securities regulatory authorities by Compton. Statements relating to
"reserves" and "resources" are deemed to be forward-looking statements, as
they involve the implied assessment, based on estimates and assumptions, that
the reserves and resources described exist in the quantities predicted or
estimated, and can be profitably produced in the future.
The forward-looking statements contained herein are made as of the date
of this news release solely for the purpose of generally disclosing Compton's
changes in management. Compton may, as considered necessary in the
circumstances, update or revise the forward-looking statements, whether as a
result of new information, future events, or otherwise, but Compton does not
undertake to update this information at any particular time, except as
required by law. Compton cautions readers that the forward-looking statements
may not be appropriate for purposes other than their intended purposes and
that undue reliance should not be placed on any forward-looking statement. The
Company's forward-looking statements are expressly qualified in their entirety
by this cautionary statement.
About Compton Petroleum Corporation
Compton Petroleum Corporation is a Calgary-based public company actively
engaged in the exploration, development, and production of natural gas,
natural gas liquids, and crude oil in the Western Canada Sedimentary Basin.
Compton's shares are listed on the Toronto Stock Exchange under the symbol CMT
and on the New York Stock Exchange under the symbol CMZ.
For further information:
For further information: Susan J. Soprovich, Director, Investor
Relations, Ph: (403) 668-6732, Fax: (403) 237-9410, Email:
firstname.lastname@example.org, Website: www.comptonpetroleum.com