Feb. 22, 2010 (Filing Services Canada) -- Covenant Resources Ltd. (CVA - CNSX),
Mr. Frank Port, President and CEO of Covenant Resources Ltd. (the "Company"), is pleased to announce the appointment of Mr. Bruce Murray as a member of the Company's Board of Directors who will replace Douglas Walker who has resigned as a director of the Company to pursue other interests.
Mr. Murray is a native Calgarian who brings to the Company 29 years of experience gained in various positions with emerging, junior, and senior oil and gas companies. He earned his Bachelor of Commerce degree from the University of Calgary in 1979.
Mr. Murray was President and Director of Tenergy Ltd., which was sold in 2006 for US$92 Million to First Reserve, a US private equity firm, and Quintanna Oil and Gas. He was also a co-founder, Director and Chief Operating Officer of Purcell Energy Ltd., which sold two-thirds of its oil and gas assets for more than $150 million in mid-2005 and spun-out its remaining assets into two separate exploration companies, one being Tenergy Ltd.
"We are pleased to have Mr. Murray join the Board at a time when the landscape for resource companies is changing," stated Mr. Port. "But challenging times also provide many opportunities to acquire quality producing and non-producing properties. With no debt and a strong balance sheet, Covenant is well positioned to aggressively pursue such opportunities in North America and become a diversified natural resource company."
On Behalf of the Board of Directors,
Frank Port
President & CEO
Contact Information:
Covenant Resources Ltd.
1959 152 Street
Surrey, British Columbia
V4A 9E3
604.805.9999
Source: Covenant Resources Ltd. (CVA - CNQ)
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