SPEE Announces New Executive Committee



    CALGARY, Jan. 23 /CNW/ - A new Executive Committee was elected at the
Society of Petroleum Evaluation Engineers' (SPEE) annual Board of Directors
meeting held January 19, 2009 in Calgary, Alberta. David K. Gold of Aera
Energy LLC (Bakersfield) will take on the responsibility of President, and
Stuart Filler of Devon Energy Corporation (Houston) will progress into the
role of Vice President, as Frank Molyneaux of Scotia Capital Inc. (Calgary)
becomes Past-President. New to the Executive Committee as the
Secretary-Treasurer is Barry Ashton of AJM Petroleum Consultants (Calgary).
    "2009 will be an exciting year for SPEE," said David Gold, SPEE
President. "We are expanding internationally with a new Chapter in London
which will help us reach our goal of increasing SPEE membership to 600
members. Work is also underway to improve our information dissemination with
the launch of the Journal of the Society of Petroleum Evaluation Engineers.
Additionally, we plan to play an active role in helping the petroleum
evaluation community interpret, understand, and apply the US Securities and
Exchange Commission's (SEC) new rules on Modernization of Oil and Gas
Reporting."
    The membership of SPEE elects three new Directors to the Board annually,
each of whom will serve a term of three years. The Board consists of 13
members, four of whom are elected to the Executive Committee in which they
serve progressive year-long terms as Secretary-Treasurer, Vice President,
President and then Past-President.
    "During the challenging times facing our industry, stakeholders of oil
and gas reserve evaluations, including government, industry, lenders and
investors, more than ever require evaluations that are prepared with the
highest standards of technical competence and professional ethics," said Frank
Molyneaux, Past-President. "The experience and qualifications of the incoming
Board of Directors of SPEE guarantees our society will continue its 47 year
history of leadership in the areas of professional ethics and oil and gas
evaluation sciences."
    SPEE has long been a leader in reserves definitions and was the catalyst
in defining the probable and possible categories. In 2008, SPEE's core
commitment to the advancement of petroleum evaluation continued as SPEE's
Calgary Chapter issued Detailed Guidelines for Estimation and Classification
of Coal Bed Methane (CBM) Reserves and Resources and Reserves Recognition for
International Properties as new sections of the Canadian Oil & Gas Evaluation
Handbook (COGEH), the legislated standard for evaluation practice in Canada.
SPEE has also been active on matters of global significance in the area of
petroleum reserves/resources, including participation in the Ad Hoc Group of
Experts on Harmonization of Fossil Energy and Mineral Resources Terminology,
formed under the United Nations Framework Classification for Fossil Energy and
Mineral Resources (UNFC).

    The Society of Petroleum Evaluation Engineers (SPEE) is a not-for-profit
professional association formed in 1962 with the goal of bringing together
specialists in the evaluation of petroleum properties. With 9 local chapters
and more than 500 members throughout the US, Canada, and Europe, the SPEE
provides educational services to both its members and the oil and gas
industry, fosters the spirit of scientific research among its members, and
promotes the profession of petroleum evaluation engineering. For more
information on the SPEE visit www.spee.org




For further information:

For further information: For media information, or to book interviews:
Gord Hawker, Fuse Creative Communications Inc., Tel: (403) 984-3707 ext 1

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SOCIETY OF PETROLEUM EVALUATION ENGINEERS

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