CALGARY, Aug. 20 /CNW/ - The Board of Directors of True Energy Inc., the
Administrator of True Energy Trust ("True" or the "Trust"), is pleased to
announce the appointment of Wayne M. Chorney as Chief Executive Officer and
Director of True, following the resignation of Paul R. Baay as True's Chairman
and Chief Executive Officer. Mr. Chorney has also been appointed to the Board
of Directors of True. William C. (Mickey) Dunn, current Lead Independent
Director of True, will re-assume his role as Chairman of the Board and Mr.
Baay will remain as a director of True.
Mr. Chorney joined True in May of 2007 in the capacity of President and
Chief Operating Officer and his appointment to True's Board and to the
position of Chief Executive Officer reflects an extension of Mr. Chorney's
leadership role with True and the Board's continued confidence in Mr.
Chorney's abilities to lead True's team in the challenging years ahead.
Mr. Chorney stated: "I would like to thank the Board for the confidence
they have shown in me since I joined True earlier this year and I am looking
forward to my expanded role as True's Chief Executive Officer. I remain
extremely positive about the growth potential of True's large inventory of
high quality development and exploration opportunities and together with our
team look forward to the successful exploitation of these undervalued assets."
The Board of Directors of True would like to thank Mr. Baay for his many
years of dedicated service since founding True in September of 2000.
True is an oil and gas trust powered by a diverse asset base, focused on
sustainable growth, both in its people and in its properties. True's approach
of providing value to its unitholders with superior returns is based on
combining its commitment to fiscally conservative management with a
disciplined but opportunistic approach to technically focused exploration and
high quality acquisitions. True supports a culture of positive team building,
emphasizing the value of human capital, working to exceed industry
expectations, keeping True at the forefront of today's competitive market.
For further information:
For further information: Wayne M. Chorney, President, CEO and COO, (403)
750-2420; Edward Brown, Vice President, Finance and CFO, (403) 750-2655; W.C.
(Mickey) Dunn, Chairman, (403) 750-1265; Scott Koyich, Investor Relations,
(403) 750-2428; Troy Winsor, Investor Relations, (800) 663-8072