Red Deer, Canada – April 18, 2011 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the appointment of Mr. Daniel Bordessa to the Board of Directors of the Corporation. Mr. Bordessa is a Managing Director and Partner of Cyrus Capital Partners, L.P. Cyrus Capital Partners is the investment adviser to certain funds which indirectly own or control 101,966,667 common shares of the Corporation, representing approximately 40.5% of the total outstanding shares. The appointment of Mr. Bordessa as a director will provide important representation on the board for the largest shareholder of the Corporation.
High Arctic is also pleased to announce the appointment of Kevin Doran to the position of Vice President, International Operations. Kevin has been with High Arctic since 2007 in the capacity of Regional Manager, Australia and Asia Pacific. He has been instrumental in building the business in Papua New Guinea from its inception. The appointment reflects the formalization of the role he has been fulfilling for some time and reflects Kevin’s continued commitment to the Papua New Guinea operation.
Forward-Looking Statements
This news release may contain forward-looking statements relating to expected future events and financial and operating results of the Corporation that involve risks and uncertainties. Actual results may differ materially from management expectations, as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed in both the Corporation’s Management Discussion and Analysis for the year ended December 31, 2010 and the Annual Information Form for the year ended December 31, 2010 found on SEDAR (www.sedar.com). Due to the potential impact of these factors, the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
About High Arctic
The Corporation, through its subsidiaries, is a provider of specialized oilfield equipment and services, including drilling, completion and workover operations. Based in Red Deer, Alberta, High Arctic has domestic operations throughout Western Canada and international operations primarily in Papua New Guinea.
Further Information
Dennis Sykora
Executive Vice President and General Counsel
Phone: 403 340 9825
Email: dennis.sykora@dev.haes.ca
[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_alert type=”error”]NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW[/fusion_alert]
[fusion_button color=”lightgray” size=”small” gradient1=”” gradient2=”” link=”http://dev.haes.ca/wp-content/uploads/HAES-Press-Release-2011-04-18.pdf” target=”blank”]Download this News Release[/fusion_button][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]