CALGARY, Nov. 8, 2011 /CNW/ - Ridgeline Energy Services Inc. (TSXV:RLE)
("Ridgeline") announces that effective November 4, 2011 it has changed
its auditor from Kenway Mack Slusarchuk Stewart LLP (the "Former
Auditor") to Ernst & Young LLP (the "Successor Auditor"). Ridgeline's
Audit Committee and Board of Directors have approved the change in
"In the past year, Ridgeline has successfully advanced its water
treatment technology from initial bench tests to full commercial
operation. We have recently signed multiple development agreements with
major North American oil and gas producers and expect to sign more as
the company's operations expand. In light of this we are anticipating
an upcoming period of rapid growth. We look forward to working with
Ernst & Young, which we believe has the depth and experience necessary
for this next stage of our development," commented Tony Ker,
Mr. Ker continued "We see much opportunity for our water treatment
systems throughout North America, as evidenced by the signing of our
second agreement with an existing client in New Mexico. Ridgeline will
also be manufacturing its treatment systems in Phoenix Arizona. As we
expand our operations in the United States, Ernst & Young's cross
border experience will be beneficial."
There were no reservations in the former auditor's reports in connection
with the two most recently completed fiscal years or for any period
subsequent to the most recently completed period for which an audit
report was issued. There were also no reportable events between
Ridgeline and the Former Auditor or the Successor Auditor including
disagreements, unresolved issues or consultations as defined in
National Instrument 51-102, Continuous Disclosure ("NI 51-102").
All procedures have been properly followed under NI 51-102 regarding the
change of auditor and, as required, a Notice of Change of Auditor
together with the required letters from the Former Auditor and the
Successor Auditor will be filed via SEDAR with each securities
commission in each province or territory in Canada in which Ridgeline
is a reporting issuer.
Ridgeline would like to thank Kenway Mack Slusarchuk Stewart for their
contribution during their engagement.
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. ("Company") is an environmental technology and consulting company
focused on waste management in the oil and gas industry. Through its
subsidiary Ridgeline Water Inc., the Company is developing proprietary technology capable of efficiently
treating large volumes of contaminated water generated by oil and gas
producers. The Company is working with energy majors in the
application of the proprietary technology for effective treatment of
water for hydraulic fracturing, oil sands process water (SAGD and
tailings ponds) and to recycle the water used in these oil and gas
industry applications. Through its environmental consulting and
remediation subsidiaries, Ridgeline Environment Inc. and Ridgeline GreenFill Inc., the Company has built a reputation as an established player in the
provision of environmental services to Western Canada's large and
growing oil and gas industry. The Company trades on the TSX Venture
Exchange under the symbol "RLE". Additional information is available
on the Company's website at: www.ridgelinecanada.com.
For a video on hydraulic fracturing and our proprietary water treatment
technology please follow this link: Ridgeline Video Presentation.
"Neither 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 news
release. This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Such information is subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and
cause actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. Readers are
cautioned not to place undue reliance on forward-looking information,
as no assurances can be given as to future results, levels of activity
SOURCE Ridgeline Energy Services Inc.
For further information:
Clint Wolstenholme of Ridgeline Energy Services Inc.
(403) 806-2380 (Calgary)
Ryan Johnson of Ridgeline Energy Services Inc.
(604) 566-8066 ext. 2 (Vancouver)
David Waldman at Crescendo Communications
(212) 671-1021 (New York)