/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY, Oct. 10, 2013 /CNW/ - Cathedral Energy Services Ltd. (the
"Company" or "Cathedral" / TSX: CET) announces that Mark Bentsen,
President and Chief Executive Officer has left the Company to pursue
other interests. Mr. Bentsen will also be leaving Cathedral's Board of
Directors. Until a replacement is secured, the following interim
appointments have been made - P. Scott MacFarlane, Chief Financial
Officer, will assume the responsibilities of Chief Executive Officer
and Randy Pustanyk, Vice President of Operations, will assume the
responsibilities of President and Chief Operating Officer. Mr. Pustanyk
was a co-founder of Cathedral and has served as Vice President of
Operations since Cathedral's inception. Mr. MacFarlane has held the
position of Chief Financial Officer since April 2001. The Board of
Directors has formed a special committee to guide the selection process
for the best candidate to lead the Company on a permanent basis.
Commenting today, Rod Maxwell, Chairman of Cathedral, said: "Mark has
made a significant contribution in the evolution of the Company from
its initial stage as a startup directional drilling enterprise through
to its current form as a North American based Energy Services Company
with a customer focused strategy designed to reduce our customers
finding and development costs through research, development and
commercialization of industry leading proprietary directional drilling
tools, mud motors, and production testing equipment. We wish Mark all
the best in the pursuit of his future endeavors". "Cathedral has an
excellent team of executives in place on a companywide basis, and the
Board is confident that we have the key people necessary to advance our
strategy and guide our directional drilling and production testing
businesses successfully forward".
Cathedral Energy Services Ltd. (the "Company"/"Cathedral") and its
wholly owned subsidiary, Cathedral Energy Services Inc., are engaged in
the business of providing selected oilfield services to oil and natural
gas companies in western Canada and selected oil and natural gas basins
in the United States. The Company is in the process of establishing
operations in Venezuela for providing directional drilling services
through its wholly owned subsidiaries Directional Plus International
Ltd. and Directional Plus de Venezuela, C.A. The Company's operating
activities are divided into directional drilling and production testing
business units. The Company's shares trade on the TSX under the
symbol: CET. For more information, visit www.cathedralenergyservices.com.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that involve risks
and uncertainties. Forward-looking statements or information are based
on current expectations, estimates and projections that involve a
number of risks and uncertainties which could cause actual results to
differ materially from those anticipated by the Company. The
forward-looking statements or information contained in this news
release are made as of the date hereof and the Company does not
undertake any obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by
applicable securities laws.
SOURCE Cathedral Energy Services Ltd.
Requests for further information should be directed to:
P. Scott MacFarlane, Interim Chief Executive Officer and Chief Financial Officer or Randy Pustanyk, Interim President and COO
Cathedral Energy Services Ltd., 1700, 715 - 5th Avenue S.W., Calgary, Alberta T2P 2X6
Telephone: 403.265.2560 Fax: 403.262.4682 www.cathedralenergyservices.com
Copyright CNW Group 2013