CALGARY, Sept. 12, 2011 /CNW/ - E-T Energy Ltd. ("E-T Energy" or the "Company") is pleased to announce the appointment of Mr. Trevor Roberts, P.Eng.,
as President and Chief Executive Officer of the Company. Mr. Roberts
will also retain his current position as a director of the Company.
Concurrently, Dr. Bruce C. W. McGee, CD, Ph.D., P.Eng. has resigned his
position as President and Chief Executive Officer to become Executive
Chairman of the Board of E-T Energy Ltd.
In his new role, Mr. Roberts will assume the responsibility for
advancing the Company's strategic vision and to develop the operational
and financial strategies to fully utilize of the Company's proprietary
ET-DSP™ technology for the extraction of bitumen and conventional heavy
oil in Canada, the USA and other foreign opportunities. Mr. Roberts
brings extensive experience in the Athabasca Oil Sands through senior
executive positions he has held, including Chief Operating Officer of
Canadian Oil Sands Limited and Canadian Oil Sands Trust between 2005
and 2011, Senior Vice-President, Operations and other Vice- President
positions with Suncor Energy between 1997 and 2005, and prior thereto,
21 years with Shell Canada Ltd.
Executive Chairman Bruce McGee commented, "We are extremely pleased to
have Trevor Roberts join E-T Energy in this capacity and to have
acquired an executive with the skills and lengthy experience developed
from working in the Athabasca Oil Sands. His experience will be
invaluable as the Company moves to build up the leadership and
management team necessary to execute the Company's first commercial
project, expected to produce 10,000 barrels of bitumen per day from its
Poplar Creek asset. The application for the commercial project is
currently under review by regulatory authorities with approval expected
in the near future, leading to the anticipated commencement of
production in 2014".
The Board of Directors would like to acknowledge the immeasurable
contribution that Dr McGee has given to the Company as President and
CEO over the last seven years since its inception in 2004. Through Dr.
McGee's leadership, he has positioned the ET-DSP™ technology as a
primary means for the extraction of bitumen from the Athabasca Oil
Sands, with the lowest capital and operating cost structure and the
least damaging to the environment. All stakeholders in the Company are
deeply indebted to Dr. McGee.
About E-T Energy Ltd.
E-T Energy is a private, Calgary-based company focused on bitumen
extraction from the oil sands and heavy oil recovery through the use of
the proprietary, efficient, and environmentally friendly ET-DSPTM process. E-T Energy is currently field testing the ET-DSP™ in the
Athabasca Oil Sands in Alberta. The ET-DSPTM process offers several advantages that will make it the technology of
choice for a significant quantity of bitumen and shallow heavy oil
resources that currently do not have a suitable extraction method.
These advantages include: an established technology, minimal water use,
rapid recovery of affected lands, lower energy use, and substantially
reduced greenhouse gas emissions.
Readers are cautioned that this press release contains forward looking
information relating to proposed development plans of the Company and
the timing of execution. There is a risk that the development plans
proposed by the Company will not be completed within the anticipated
time or at all. Although the Company believes that the expectations
and underlying assumptions reflected in these forward-looking
statements are reasonable, undue reliance should not be placed on them
as the company can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. The forward-looking statements contained in this press
release are made as of the date hereof and the Company undertakes no
obligations to update publicly or revise any forward-looking statements
or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
SOURCE E-T Energy Ltd.
For further information:
on E-T Energy, please call Dr. Bruce McGee at 403-569-5110 or Trevor Roberts at 403-569-5117