PRD ENERGY ANNOUNCES SENIOR MANAGEMENT CHANGES AND APPOINTMENT OF NEW
DIRECTOR
CALGARY, Oct. 6 /CNW/ - PRD Energy Inc. (TSX Venture: PRD) ("PRD " or the "Company") is pleased to announce that Mr. Ted Watchuk has been appointed Vice President Exploration of the Company and that Mr. James (Terry) McCoy has been appointed the board of directors of the Company.
Mr. Ted Watchuk, B.Sc. - Vice President, Exploration. Mr. Watchuk is a senior oil and gas executive with over 30 years as a successful geologist and exploration manager. Mr. Watchuk spent 15 years with Poco Petroleums in various roles, including as a geologist, exploration manager and member of the corporate development team. During his eight-year tenure as an exploration manager, Mr. Watchuk was responsible for the central Alberta team helping to build it into a major production area for Poco. Following the successful acquisition of Poco by Burlington Resources, Mr. Watchuk managed Burlington's new ventures group before moving to an intermediate oil and gas company as an exploration geologist actively drilling and evaluating multiple acquisitions. Mr. Watchuk is a member of The Association of Professional Engineers, Geologists and Geophysicists of Alberta, The Canadian Society of Petroleum Geologists and The American Association of Petroleum Geologists.
Mr. James (Terry) McCoy, P. Geol. - Director. Mr. McCoy is a senior oil and gas executive with over 40 years of experience with major, senior intermediate and junior oil and gas companies. Mr. McCoy is currently the President of Koa Resources Ltd., a private oil and gas company. Prior thereto, Mr. McCoy was Vice President of Exploration for Calvalley Petroleum Inc., President of Trafina Energy Ltd., and Vice President of Exploration and Land at Murphy Oil Company. Prior to joining Murphy Oil, Mr. McCoy was Vice President of Exploration and Land at Poco Petroleums for 11 years before ultimately being appointed President of Burlington Resources Canada following its acquisition of Poco. Prior to joining Poco, Mr. McCoy held executive positions at Columbia Gas Development of Canada, Conwest Exploration Company, Union Oil of Canada and Amoco Canada Petroleum Company. Mr. McCoy is a director of several public and private companies and an advisory board of a private capital company.
Commenting on the appointments, Mr. Michael Greenwood, Chairman and Chief Executive Officer of PRD, said "We are very pleased with the additions of Ted Watchuk to our management team and Terry McCoy to our board of directors. These individuals offer PRD a deep knowledge and capability in geosciences which, when combined with the recent addition of Daryl Gilbert from a reservoir engineering perspective, provide considerable bench strength to our already highly capable team of directors and officers."
PRD also announced today that Mr. Roger Harman, Chief Financial Officer of the Company, is no longer with the Company. The directors and management express their gratitude to Mr. Harman for his contributions to the Company and we wish him well in his future endeavours.
PRD Energy Inc. is a Calgary-based oil and natural gas company engaged in the exploration for and the acquisition, development and production of natural gas and crude oil, principally internationally as well as in western Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "PRD".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release contain forward-looking information including expectations. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to; the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks include, but are not limited to; operational risks in exploration, development and production, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The risks outlined above should not be construed as exhaustive. The reader is cautioned not to place undue reliance on this forward-looking information. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.
For further information: Michael Greenwood, Chairman and Chief Executive Officer; Mark Hornett, President and Chief Operating Officer; Telephone: (403) 234-0501, Facsimile: (403) 234-0511
Share this article