NWest Energy Names Robert D. Webb Interim President and CEO
02/16/2009
St. John�s, NL: NWest Energy Inc. ("NWest� or �the Company" TSX-V: NWN) announces that Robert Webb, NWest�s Vice-President Business Development and Operations, has been named interim President and CEO.
The appointment of Mr. Webb as President and CEO is effective February 16, 2009 and follows the resignation of Fran�ois Gauthier from those positions and as a Director of the Company.
�We respect Fran�ois's desire to move to other opportunities upon completion of our recent seismic program and we thank him for the contributions he has made.� said Mr. Webb. "In assuming the roles of CEO and President on an interim basis, I am excited about the opportunity to lead NWest through the next phase of our project in this challenging economic environment. Securing joint-venture exploration partners and seeking new projects will be my top priority.�
Mr. Webb joined NWest Energy in June 2008 and was formerly a Director at CIBC World Markets. Working in Calgary and London, he played a role in financing and merger and acquisition transactions with an aggregate value of over $10 billion. Prior to his investment banking career, he provided project management and engineering services with Schlumberger to clients in Indonesia, Vietnam, Russia and the United Kingdom. Mr. Webb has an MBA degree from the University of Toronto�s Rotman School of Management and an Engineering degree from Memorial University of Newfoundland.
About NWest Energy
NWest Energy is a Canadian junior oil and gas company exploring high-margin frontier basins for long-term, sustainable value creation. To date, NWest has acquired four properties, located off the west coast of Newfoundland and Labrador. All properties have defined seismic targets along with considerable exploration potential to host large oil and gas reservoirs. Through its exploration licenses, NWest holds approximately 1.6 million acres of highly prospective frontier property in a geologically favourable environment for exploration. Further information regarding the company and its exploration licences is available at www.nwestenergy.com .
Contact: info@nwestenergy.com
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Robert Webb,
President & CEO
709.722.3959 |
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company�s expectations. Certain risk factors may also affect the actual results achieved by the Company.
There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.