CALGARY, Nov. 30 /CNW/ - Synenco Energy Inc. announced today that
Executive Vice President and Chief Financial Officer Idar Eikrem has resigned
in order to pursue other interests.
"Synenco is very appreciative of Idar's contributions and we wish him
well," said Todd Newton, President and Chief Operating Officer. "During his
tenure, Synenco completed its revised capital cost estimate for the Northern
Lights Project and announced its plan to assess options for a strategic
repositioning of the company. Idar's contributions to this process will prove
to be of considerable value as we complete this important initiative to
restructure the Northern Lights project to deliver greater value to our
Mr. Eikrem will take the position of Executive Vice President, Group
Finance Director of Aibel Group Ltd. (UK) and the position of Chief Financial
Officer of Aibel AS (Norway) effective January 1, 2008.
About Synenco Energy and Northern Lights
Synenco Energy (TSX:SYN) is a Calgary-based oil sands company which, with
a 60-percent interest, is the managing partner of the Northern Lights
Partnership and operator of the Northern Lights oil sands project. Synenco, on
behalf of the NLP, holds five coal lease applications in northeastern Alberta.
In addition, Synenco Energy also holds a 100-percent interest in the
McClelland oil sands lease adjacent to Northern Lights project lands.
SinoCanada Petroleum Corporation, an indirect wholly owned subsidiary of
China-based Sinopec, owns the remaining 40 percent of the Northern Lights
Partnership and project.
For further information:
For further information: Media, Scott Ranson, General Manager, Public
Affairs, Telephone: (403) 451-5212, Cellular: (403) 619-5038,
email@example.com; Investment community, Todd Newton, President and
Chief Operating Officer, Telephone: (403) 261-1990, firstname.lastname@example.org,
Or visit www.synenco.com