Business
Peyto Energy Trust announces appointments
Peyto Energy Trust announces appointments.
About this update from Peyto Exploration & Development Corp.
[{"type":"text","content":"\n\n\n\nTSX SYMBOL: PEY.UN\n\n\nCALGARY, Dec. 18 /CNW/ - Peyto Energy Trust is pleased to announce that\neffective January 1, 2007 Darren Gee, the current President of Peyto\nExploration & Development Corp. (\"Peyto\"), will also assume the role of Chief\nExecutive Officer. In addition, effective January 1, 2007, Mr. Gee will join\nthe Board of Peyto.\n\n\nAs previously announced, December 31, 2006 marks the official retirement\nof Don Gray as Chief Executive Officer of Peyto. Don will remain an active\nmember of the Board of Peyto and intends to remain a significant unitholder.\nOn behalf of both employees and unitholders, the Board would like to thank Don\nfor his vision, execution thereof and tireless effort for the last eight\nyears. We wish him the very best in the future.\n\n\nPeyto is also pleased to announce that, effective January 1, 2007,\nGregory S. Fletcher will be appointed to the Board of Peyto as an additional\nindependent director. Mr. Fletcher is currently the President of Sierra Energy\nInc., a private oil and gas production company that he founded in 1997. From\nJune 1998 to May 1999, he was also President, Chief Executive Officer and a\ndirector of Canadian Conquest Exploration Inc. and prior to 1997 he was\nPresident, Chief Executive Officer and a director of Aztec Resources Ltd. Mr.\nFletcher is also a director of Diamond Energy Services LP, a private oilfield\nservice limited partnership, a director of Calfrac Well Services Ltd., a\npublic oilfield service company, and a director of Total Energy Services Ltd.,\na public oilfield service company. Mr. Fletcher holds a BSc. in geology from\nthe University of Calgary. The Board looks forward to Greg's contributions to\nthe Board of Directors and its committees.\n\n\nCertain information set forth in this document, including management's\nassessment of Peyto's future plans and operations, contains forward-looking\nstatements. By their nature, forward-looking statements are subject to\nnumerous risks and uncertainties, some of which are beyond these parties'\ncontrol, including the impact of general economic conditions, industry\nconditions, volatility of commodity prices, currency fluctuations, imprecision\nof reserve estimates, environmental risks, competition from other industry\nparticipants, the lack of availability of qualified personnel or management,\...