Applies to KING, somehow I guess:
newswire.ca
Attention Business Editors:
Westfort Energy Ltd. Announces The Election Of New President And CEO
(TSE:WT)
JACKSON, MS, Oct. 18 /CNW/ - The Board of Directors of Westfort Energy
Ltd. is pleased to announce the election of Norris R. Harris to the office of
President of the company and his appointment to the Board of Directors.
Mr. Harris has had extensive experience as an oil and gas executive,
having founded and served as President and CEO of highly successful, publicly
held oil and gas companies.
He has also enjoyed a distinguished background in geophysics having been
responsible for geophysics in U.K. waters and Nigeria for Mobil Oil
Corporation. During his tenure at Mobil, he also worked in several other
countries and was responsible for geophysics in Africa and Southeast Asia at
the time of his resignation from Mobil to form a geophysical consulting
company. This company, Pexcon, eventually had over fifty clients including
Exxon, Conoco, Deminex (German government), Japanese Petroleum Co. and Pan
Arctic Petroleum.
He holds patents in Data Processing Techniques for seismic data as well
as having developed the direct detection of hydrocarbons from seismic data.
When Mr. Harris and his partner, Ray Sengbush, formed Pexcon, the industry did
not accept the theory that oil and gas could be detected directly with
seismic. Today "bright spot" technology is routinely used throughout the
industry and has drastically improved the success ratio of exploration wells.
Mr. Harris brings to Westfort the experience and knowledge necessary to
maximize production of the company's reserves.
Westfort, under Mr. Harris' leadership will initially concentrate on
cutting the company's present costs of operation without impeding the
company's profitable operations, evaluating the company's overall operations
and developing an operational program to increase and enhance the company
production and thus its cash flow. Simultaneously, a financing plan will also
be developed and presented to the board designed to provide needed funds to
develop the company's lease holdings. A more comprehensive summary of Mr.
Harris' background will be posted on Westfort's web page in due course.
For The Board
H. Eugene Gibbons
Headquartered in Jackson, Mississippi, Westfort Energy Ltd., is an
independent oil & gas exploration and development company, operating through
its wholly owned subsidiary Canadian Delta Inc. The Company currently holds
leases to oil, gas and mineral rights that comprise a majority interest in
three, known producing fields: Pelahatchie, Pickens and Gillsburg, all located
within a 125-mile radius of Jackson. Westfort also operates its own workover
and drilling rigs.
Cautionary Statement as to Forward-Looking Information: Investors are
cautioned that the preceding statement of the Company includes certain
estimates, assumptions and other forward-looking information. The actual
future performance, developments and/or results of the company may differ
materially from any or all of the forward-looking statements, which include
current expectations, estimates and projections, in all or part attributable
to general economic conditions and other risks, uncertainties and
circumstances partly or totally outside the control of the Company, including
rates of inflation, natural oil/gas prices, reserve estimates, drilling risks,
future production of oil and gas, changes in future costs and expenses related
to oil and gas activities and hedging, financing availability and other risks
related to financial activities.
The Toronto Stock Exchange has neither approved nor disapproved of this
release.
-30-
For further information: Investor Contact: Arne Greaves, Westfort Energy
Ltd., (877) 816-7571, Info@westfortenergy.com; Blair Henderson, (604)
687-5562;
To request a free copy of this organization's annual report, please go to
newswire.ca and click on reports@cnw.
WESTFORT ENERGY LTD. has 65 releases in this database. |
