News...CALGARY, Alberta--(BUSINESS WIRE)--Wescorp Energy Inc. (OTCBB: WSCE), a clean water solutions company, announced Robert Nicolay has been appointed Chief Financial Officer, a position vacant since 2008. Nicolay, who has served on the Wescorp Board of Directors since 2006, will perform the functions of Chief Financial Officer on a part-time basis.
“Bob has been a valuable contributor to our Board for the past four years”
“Bob has been a valuable contributor to our Board for the past four years,” stated Robert G. Power, Executive Chairman of Wescorp. “He is a proven executive leader with deep business and financial expertise in the energy sector. We now look forward to reaping the benefits of his guidance in the areas of financial oversight and business development as we broaden the commercialization of our clean water technologies for the oil and gas industry. This is an important time in the evolution of Wescorp, now that we have our first H2Omaxx oil and water separation unit in commercial operation. We will also tap into Bob’s strengths in the areas of operations analysis and business development, as well as continuing to utilize his strength and experience in corporate governance, as we focus our sales and marketing efforts and to seek additional partnerships to leverage Wescorp’s proprietary technologies.”
Nicolay is President and CEO of Oak Point Consulting Group Ltd., an Alberta-based firm providing technology and project management and financing advisory services to domestic and international clients. Prior to this, Nicolay was Vice-President, Business Development, for Pengrowth Corporation, one of Canada’s premier oil and natural gas energy trusts. He is also President of Aurora Borealis Management, an Alberta-based firm providing corporate governance, energy investment, operations analysis and strategic development and execution advisory services for public, private and government energy corporations. In addition to serving on the Board of Directors of Wescorp, Nicolay has extensive public and private sector governance experience and he is currently a director of General Magnetic Inc., President of the Calgary Petroleum Club, and director for the Alberta Worker's Compensation Board.
Robert Nicolay, Chief Financial Officer, stated, “Wescorp management and the Board have spent the past year refining and refocusing the Company’s business strategy. These efforts have enabled us to strengthen Wescorp’s balance sheet and develop a clear path to continued enhancement of the Company’s financial position. They have also focused Wescorp on top line performance through sales and market development. I believe Wescorp’s balance sheet and income statement will couple well with our proven technology in a growing market to produce positive results for our stockholders”.
Nicolay began his career in Calgary where he held positions in Finance and Accounting with Gulf Canada Resources and with Amoco Canada Petroleum. From 1999 to 2005, he was President and CEO of ENMAX Corporation, an electric utility owned by the City of Calgary, Alberta, which he transformed into a vertically integrated corporation participating in electricity generation, transmission and distribution; and electricity and natural gas trading, wholesaling, and retailing. Prior to joining ENMAX, Nicolay held several key positions at The City of Medicine Hat. He was Chief Administrative Officer of The City of Medicine Hat (Corporate Services and Chief Financial Officer) and CEO of The City’s wholly owned oil and gas subsidiary corporation (650591 Alberta Ltd.) from 1995 to 1998; Commissioner of Public Services from 1992 to 1995; Manager of Financial Planning and Budget from 1989 to 1992; and, Manager of Utilities Finance from 1982 to 1989.