CALGARY, March 15 /CNW/ - The Board of Directors of True Energy Trust
("True") is pleased to announce a restructuring of its senior management team
effective May 1, 2007. The change reflects True's recent growth and addresses
the primary challenge in the years ahead - managing significant growth while
maintaining a focus on operational excellence within True.
Wayne M. Chorney will join True in the capacity of President and Chief
Operating Officer, bringing with him 23 years of industry experience. Formerly
Vice President, Development Operations at a major Canadian Independent, Mr.
Chorney held positions of increasing responsibilities in Canada and the United
Kingdom over the last 13 years. During his professional career Mr. Chorney has
managed production operations, drilling and completions, facilities and
pipelines, as well as corporate health and safety.
Paul R. Baay, President and Chief Executive Officer of True Energy Inc.
since its inception on August 31, 2000 will assume the role of Chairman and
remain as Chief Executive Officer of True.
William C. Dunn current Chairman of True, will assume the role of Lead
Independent Director of True. Mr. Dunn is also a Director of Precision
Drilling Trust, Cork Exploration Inc., Vero Energy Inc. and Rentcash Inc. and
was the former President and Chief Executive Officer of Cardium Service and
Supply Ltd. and Cardium Tool Services Inc.
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 equityholders 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: Paul Baay, President and CEO, (403) 750-1272;
Edward Brown, Vice President, Finance and CFO, (403) 750-2655; Scott Koyich,
Investor Relations, (403) 750-2428; Troy Winsor, Investor Relations, (800)