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Energy company shuffles its management team

Who's moving on in Alberta?


By Business Edge -
Published: 04/04/2008 - Vol. 8, No. 7

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High Arctic Energy Services Inc. (TSX:HWO) has made a round of appointments directed at strengthening the finance and administration of the struggling company. Morley Myden has been named chief financial officer. Myden joined High Arctic in November 2007. Peter Julien has stepped down as interim CFO, having served in that role since Sept. 1. His position has changed from vice-president finance to VP, corporate controller. The position held by Dennis Sykora has changed from VP of legal and corporate development to executive VP and general counsel. High Arctic has reported a net loss of $69.6 million for 2007, down from prior-year earnings of $17.1 million, reflecting "difficult market conditions exacerbated by company-specific challenges.

Through its subsidiaries, High Arctic is a global provider of specialized oilfield equipment and services. It is based in Red Deer.

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The Canadian Equipment Rental Fund Limited Partnership (TSXV: CFL.UN) has promoted former partnership GM Marc Mandin to the position of chief operating officer. CERFLP is engaged in the rental, sale and service of industrial and construction equipment. Its head office is in Edmonton.

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Johnny Lam has been promoted to COO of Mainstreet Equity Corp. (TSX: MEQ), while Cory Tamagi becomes CFO. Lam previously held the position of CFO. Tamagi joined the company in January. Mainstreet is a Calgary-based real estate corporation focused on the acquisition and management of mid-market residential rental buildings.

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Winalta Inc. (TSXV:WTA.A) is making a change to its senior management. Ray Hawrelak will be resigning as CFO on June 30 to pursue other interests, but will continue with Winalta until Sept. 30 for the transition. Todd Channon becomes CFO as of July 1. He joined the Acheson company in May 2007 as controller of the homes division. Winalta is a land developer in Western Canada and a producer of manufactured and modular homes.

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Murray Hinz has become vice-president of finance for Sparta Capital Ltd. (TSXV:SAY). Sparta is a master sales agent for the Hy-Drive hydrogen generating system, a fuel-savings and emissions-reduction technology. Sparta is based in Edmonton.

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Peak Energy Services Trust (TSX:PES.UN) has made a number of management changes: Curtis Whitteron becomes president and CEO; Matthew Huber, executive VP; Bob Outhwaite, senior VP of business development; Dale Kaufmann, chief operating officer; and Monty Balderston, CFO. Peak says this coincides with the completion of the recently announced merger with Wellco Energy Services Trust and is the result of a long-standing company succession plan. Peak is a diversified energy services organization operating in Western Canada and the U.S. Midwest. The Calgary-based trust also provides water technology services throughout North America.

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Enerchem International Inc. (TSX:ECH) has appointed Kenneth Bagan as president and CEO. Bagan was most recently president and CEO of Wellco Energy Services Trust. Bagan replaces a retiring Douglas Robinson. Enerchem is a manufacturer and distributor of hydrocarbon drilling and fracturing fluids, and specialty solvents. The Calgary company also provides energy marketing services, fluid transportation and other related oilfield services.

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Ken Barbet has resigned as the president, CEO and a director of Big Rock Brewery Income Trust (TSX:BR.UN). Edward McNally, the current chairman of the board and founder of Big Rock Brewery Ltd. of Calgary, has been appointed interim president and CEO. The trust owns all the securities of Big Rock Brewery, which produces premium craft beers.

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Infosat Communications, a subsidiary of Telesat, has promoted Graeme Watson to the positions of president and CEO. Watson previously held the position of senior VP of operations. Based in Calgary, Infosat designs, integrates and commissions telecommunications systems for a variety of industries and business sectors.

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Eagle Star Petroleum Corp. (TSXV:EGE, CNQ:EAGL) has hired Martin Keeley as COO. Keeley brings 27 years of experience in international oil and gas exploration and development. Eagle Star is an oil and gas exploration company headquartered in Calgary.

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Joe Peskunowicz has been promoted to executive VP, corporate for Canyon Services Group Inc. (TSX:FRC) of Calgary. He previously held the position of COO. Todd Thue succeeds Peskunowicz as COO. Thue previously held the position of senior VP of business development. Canyon Services offers specialized fracturing and well stimulation services to the oil and natural gas sector through its wholly owned subsidiary Canyon Technical Services.


- with files from The Canadian Press


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