To: Keith Utz who wrote (50 ) 7/14/1998 10:41:00 AM From: Ally Respond to of 135
Hyduke Appoints Chief Financial Officer EDMONTON, ALBERTA--The Board of Directors of HYDUKE CAPITAL RESOURCES LTD. (ASE:HYD) announces the appointment of Robert (bob) L. Ardiel as Chief Financial Officer of the corporation, effective immediately. Prior to joining Hyduke, Mr. Ardiel was General Manager of Finance for the City of Edmonton. He is a past director of the Alberta Municipal Financing Corporation and the Special Forces Pension Plan of Alberta police officers. Mr. Ardiel's career experience encompasses finance, treasury, systems, materials management and human resources. In his new position as CFO of Hyduke, Mr. Ardiel replaces Peter Lylick, who remains with the company as a member of its Board of Directors. Hyduke Capital Resources Ltd. provides a full range of products, service and equipment to oil and gas, forestry and mining sectors. Since listing on the Alberta Stock Exchange in April, 1996, Hyduke has increased its asset base in excess of 40 times and shareholders' equity by more than 10 times. At third quarter 1998, the company had $3.7 million in shareholders' equity, of which $2.4 million was generated by retained earnings in the last two years of operation. The company's year-end results for April 30, 1998, will be announced this summer. Hyduke subsidiaries include B.W. Rig Repair & Supply, Reliable Airflow Sales & Service, and CanWest Crane and Equipment Ltd. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Hyduke Capital Resources Ltd. John I. Babic Chairman & CEO (403) 463-8686 (403) 988-5768 (FAX) or Hyduke Capital Resources Ltd. Jan Goodwin Investor Relations (403) 463-8686 (403) 988-5768 (FAX) The Alberta Stock Exchange has neither approved nor disapproved of the contents of this press release.