CALGARY, Jan. 8 /CNW/ - John Geddes, Chairman of the Board of Flint
Energy Services Ltd., (Flint or the Company) announced today the retirements
of Brian Butlin and Lyle Reid from their positions as members of the Board of
Directors effective December 31, 2007.
Mr. Geddes said, "It has been both my pleasure and the pleasure of our
Board to be partners with Brian and Lyle all these years. Brian and Lyle
believed in, and contributed to, our company and our vision. Throughout their
participation on the Board, their judgment has been exceptional and their
caring for the company and its employees has been a constant example to the
rest of us."
Brian Butlin had served on the Board since the inception of the Company,
and was President and Chief Executive Officer of Flint until 2005. Prior to
Flint becoming a public company, Mr. Butlin was President of the HMW Group,
one of the private companies, that in 1988, was consolidated into Flint Energy
Lyle Reid was President of Reid's Construction Group, which was acquired
and amalgamated into Flint prior to the Company going public in 2001. Mr. Reid
had similarly served as a board member from that point until his retirement in
Mr. Geddes stated: "Flint has grown substantially since 2001, and Brian
and Lyle's contributions to help direct that growth have been greatly
appreciated. Going forward, with $1 billion in oil sands construction backlog,
our recently acquired oilfield transportation and tubular management
businesses, and with our increasing oil sands maintenance business, we
continue our transformation into a larger more diversified construction and
energy service company focused on oil sands and North America land."
During 2007, Flint added two new directors to the Board: Doug Annable and
Terry Freeman. We will continue to monitor the size and composition of our
board as the company continues to grow and develop.
Flint is a market leader providing an expanding range of integrated
products and services for the oil and gas industry including: production
services, facility infrastructure, oilfield transportation, tubular management
services, process equipment design and manufacturing, and plant maintenance.
Flint provides this unique breadth of products and services through over
60 strategic locations in the oil and gas producing areas of western North
America, from Inuvik in the Northwest Territories to Mission, Texas on the
Mexican border. Flint is a preferred provider of infrastructure construction
management, module fabrication, and maintenance services for upgrading and
production facilities in Alberta's fast growing oil sands sector. Flint Energy
Services Ltd. is a publicly traded company listed on the Toronto Stock
Exchange under the symbol "FES".
FORWARD LOOKING STATEMENTS
Certain statements in this news release are "forward-looking statements",
which reflect current expectations of the management of Flint regarding future
events or Flint's future performance. All statements other than statements of
historical fact contained in this news release may be forward-looking
statements. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in the forward-looking statements.
Flint believes that the expectations reflected in such forward-looking
statements are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward-looking statements
should not be unduly relied upon. The forward-looking statements are expressly
qualified in their entirety by this cautionary statement. The forward-looking
statements are made as of the date of this news release and Flint assumes no
obligation to update or revise them to reflect new events or circumstances,
except as expressly required by applicable securities law. Further information
regarding risks and uncertainties relating to Flint and its securities can be
found in the disclosure documents filed by Flint with the securities
regulatory authorities, available at www.sedar.com.
For further information:
For further information: W.J. (Bill) Lingard, President & Chief
Executive Officer; Paul Boechler, Chief Financial Officer; or Guy Cocquyt,
Director of Investor Relations, Telephone: (403) 218-7100, Fax: (403)
215-5481, Website: www.flintenergy.com