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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (11454)	6/25/1998 12:48:00 PM
From: Kerm Yerman	Respond to of 15196

SERVICE SECTOR / Canadian Crude Separators Inc. Key Staff Changes CANADIAN CRUDE SEPARATORS INC. - ANNOUNCES ROBERT GERMAN IS LEAVING THE COMPANY TO PURSUE OTHER OPPORTUNITIES Date: 6/24/98 4:23:36 PM Stock Symbol: CCR Dave Werklund, Chief Executive Officer and Chairman of the Board of Canadian Crude Separators Inc. (CCS), announced today that Robert German will be leaving the company to pursue other opportunities. Mr. German has been with CCS for two years as Vice President, Finance. "Bob has been a tremendous asset to our team," said Mr. Werklund. "While we are sorry to see him go, we have a solid team in place who will see us through the coming weeks as we search for the right person to fill Bob's shoes." CCS has recently initiated a search to fill the position of Vice President, Finance added Mr. Werklund, who founded CCS in 1984. Mr. Werklund expects CCS to achieve its estimated $6.5 million in net income for the year ended December 31, 1998, despite the lower oil pricing environment. CCS is also aggressively following its growth strategy and is reviewing opportunities for expansion throughout its operating base in Alberta and Saskatchewan. CCS reported its best quarterly results in company history for the three months ended March 31, 1998 with $2.6 million in net income or $0.20 per share. The company's balance sheet is exceptionally strong with only $4.0 million in long-term debt at the end of the quarter representing just under three months cash flow. CCS is an oilfield service company based in Calgary with a fourteen year history of safely providing environmentally responsible solutions to over 500 customers. During that time the company has built a large team of dedicated employees with a reputation of providing quality service and this tradition is growing stronger in 1998. A conference call will be held Thursday, June 25, at 9:00 am. Eastern time, 7:00 a.m. Calgary time, where Mr. Werklund will briefly review company operations and be available for questions. Interested parties should call in at (888) 613-5553. A tape of the conference call can be heard at (800) 558-5251, reservation number 939827 until Monday evening at 6:00 p.m. Eastern time.