Business
Unitech Energy announces a drilling update and the appointment of a new Chief Financial Officer
Unitech Energy announces a drilling update and the appointment of a new Chief Financial Officer.
About this update from Decimus Oil Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, May 2 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV:\nURX) has been notified by the operator of its c-B67-K/94-I-14, Kotcho/Keg\nRiver play that intermediate casing has been set to approximately 200 metres\nabove the targeted Keg River formation and the drilling rig has been released.\nThe final drilling leg will be performed with a service rig which is expected\non the site after the current road ban is lifted. Based on operator reports,\nUnitech expects this to occur by May 23, 2007.\n\n\nUnitech is also very pleased to report the appointment of Dwayne Vinck as\nthe new Chief Financial Officer ("CFO"), effective immediately. Mr. Vinck is\nan independent financial consultant and Chartered Accountant with nineteen\nyears of various business experience including executive leadership, financial\nleadership, change management, mergers and acquisitions project leadership,\nSarbanes Oxley and MI 52-109 project management. Mr. Vinck is a Member of both\nthe Institute of Chartered Accountants of Alberta and the Institute of\nInternal Auditors.\n\n\nPursuant to its stock option plan, Unitech has granted options to Mr.\nVinck to acquire up to 125,000 common shares of Unitech at a price of $0.30\nper share and up to 125,000 common shares of Unitech at a price of $0.40 per\nshare, all for a five year term expiring on May 1, 2012. On April 27, 2007,\nthe last day that Unitech's common shares traded prior to the granting of the\nstock options, the closing price of Unitech's common shares on the TSX Venture\nExchange was $0.22 per share. The options, and any common shares issued upon\nexercise of the options, are subject to a four month hold period expiring\nSeptember 2, 2007.\n\n\nThe outgoing CFO, Greg Kautz, came to Unitech from NR2 Resources\nCorporation and has, with the finalization of Unitech's audited financial\nstatements for the year ended December 31, 2006, now completed his transition\nperiod goals. Mr. Kautz has elected to devote more time to personal pursuits\nand a smaller client base. Mr. Kautz has served Unitech well and we wish him\nall the best in his future endeavours. He will remain as a Director of Unitech\nuntil the annual shareholders' meeting scheduled for June 19, 2007 whereupon\nMr. Vinck will stand to replace Mr. Kautz on the Board of Directors.\n\n\nAbout Unitech Ener...