EMBER RESOURCES INC. ANNOUNCES CHANGES TO BOARD OF DIRECTORS
CALGARY, ALBERTA. September 9, 2008. Ember Resources Inc. ("Ember") announced today that the proposed changes to its Board of Directors and management team first announced August 14, 2008 were made effective as of today's date.
Ember is pleased to welcome Messrs. Donald F. Archibald, Paul Beitel, Donald J. Nelson and Steven J. Pully to its board of directors. Messrs. Jack Peltier, Richard Todd and Terry Meek have resigned from the board.
Donald F. Archibald Mr. Archibald is Chairman of Iteration Energy Ltd., an intermediate oil and gas company trading on the TSX. With over 20 years of industry experience, he has founded and served as Chairman, President and Chief Executive Officer of three successful TSX listed oil and gas companies, Cyries Energy Inc., Cequel Energy Inc. and Cypress Energy Inc. Mr. Archibald holds a Bachelor of Commerce degree and a Masters in Business Administration.
Paul Beitel Mr. Beitel is Senior Vice-President with ARC Financial Corporation. Mr. Beitel has twenty years of experience in the oil and gas industry, having spent the last ten years at ARC. He is a director of the Canadian Society for Unconventional Gas and serves on the board of directors of a number of Canadian private oil and gas companies. Mr. Beitel is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta and of the Society of Petroleum Engineers and has a Masters in Business Administration.
Donald J. Nelson Mr. Nelson is president of Fairway Resources Inc., a private firm providing consulting services to the oil and gas industry. Mr. Nelson is a Professional Engineer and has over thirty-five years of oil and gas experience, including corporate management, engineering and operations with exposure to companies of various sizes, including having served as President and Chief Executive Officer of Summit Resources Limited, a TSX listed oil and gas company. Mr. Nelson is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta and the Society of Petroleum Engineers.
Steven J. Pully Mr. Pully is general counsel of Carlson Capital, L.P., a multi-strategy fund with $5 billion of assets under management. Mr. Pully has over 20 years of experience working in the investment industry, including his experience as President of Newcastle Capital Management, L.P., a fund with $650 million of assets under management. Mr. Pully was an energy investment banker at Banc of America Securities, Inc. and Bear Stearns. Mr. Pully is licensed as an attorney and CPA in the State of Texas and is also a CFA Charterholder.
Messrs. Dennis Balderston, Fox Benton, Colin Boyer, Douglas Dafoe, Tom Drolet and Jeff Van Steenbergen will continue to serve as directors of Ember along with Messrs. Archibald, Beitel, Nelson and Pully. Both Messrs. Peltier and Todd, who resigned from the board today, were instrumental in the formation and guidance of Ember since its inception in 2005. The board has acknowledged and thanked them for their contributions and wishes them success in their future endeavors. Mr. Terry Meek, who has also resigned as a director, has assumed the title of Executive Vice-President and Chief Operating Officer of the Company.
To further strengthen the independence of the board, Mr. Douglas Dafoe has resigned as Chairman of the Board and Mr. Colin Boyer has taken on the role of Chairman of the Board. Mr. Douglas Dafoe will remain a director of Ember and assume the title of President and Chief Executive Officer. In addition, the Company has promoted Quinton Rafuse to the position of Vice-President, Geoscience. The rest of the management team remains unchanged and is comprised of: Bruce Ryan, Tom Zuorro, Ken Ronaghan and Steve Gell.
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FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect the Company’s operations or financial results are included in the Company’s reports on file with Canadian securities regulatory authorities.
Ember Resources Inc. is a resource company specializing in coal bed methane (CBM) with extensive land and resource holdings in Alberta, Canada. Ember’s shares are traded on the Toronto Stock Exchange under the trading symbol “EBR”.
FOR FURTHER INFORMATION PLEASE CONTACT
Mr. Douglas A. Dafoe
President & C.E.O.
Ember Resources Inc.
Telephone: 403 270-0803
Facsimile: 403 270-2850
Mr. Terry S. Meek
Executive Vice President & C.O.O.
Ember Resources Inc.
Telephone: 403 270-0803
Facsimile: 403 270-2850
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