PrimeWest Energy Trust Announces Change in Executive Leadership
APR 20, 2007 - 17:00 ET
CALGARY, ALBERTA--(CCNMatthews - April 20, 2007) - Mr. Donald Garner, President
and Chief Executive Officer of PrimeWest Energy Trust (PrimeWest or the Trust) (TSX:PWI.UN)
(TSX:PWX) (TSX:PWI.DB.A) (TSX:PWI.DB.B) (TSX:PWI.DB.C) (NYSE:PWI) announces that
Mr. Dennis Feuchuk, Vice President, Finance and Chief Financial Officer has tendered
his resignation effective July 6, 2007, to pursue new business ventures.
Mr. Feuchuk joined PrimeWest in the fall of 2001 and has been an integral part of
the success of PrimeWest over the past five years. Mr. Feuchuk has been a key player
in the growth of the Trust as it became the 8th largest conventional oil and gas
royalty trust, with a current enterprise value of approximately C$2.8 billion. In
addition, Mr. Feuchuk has helped the organization navigate through a series of acquisitions
of foreign controlled assets over the last several years, resulting in a significant
development portfolio with a current reserve life index of 13.4 years, one of the
longest in the Canadian oil and gas trust sector. The Management and the Board of
Directors of PrimeWest thank Mr. Feuchuk for his dedicated years of service to the
organization and wish him all the best in his future endeavors.
Mr. Garner is pleased to announce concurrently the appointment of Mr. Douglas Fraser,
C.A., as Vice President, Finance and Chief Financial Officer, effective June 1,
2007. Mr. Fraser has 27 years of extensive industry experience including previous
senior financial positions as Assistant Controller with Imperial Oil Limited, Treasurer
at Petro-Canada and most recently as Vice President and Chief Financial Officer
of Husky Energy. Mr. Fraser graduated from Mount Allison University with a Bachelor
of Commerce degree and is a Chartered Accountant.
For the period June 1 to July 6, 2007, Mr. Feuchuk will remain on staff with PrimeWest
in an advisory capacity.
PrimeWest is a Calgary-based conventional oil and gas royalty trust that actively
acquires, develops, produces and sells natural gas, crude oil and natural gas liquids
for the generation of monthly cash distributions to Unitholders. Trust Units of
PrimeWest are traded on the Toronto Stock Exchange (TSX) under the symbol "PWI.UN"
and on the New York Stock Exchange under the symbol "PWI". Exchangeable Shares of
PrimeWest Energy Inc. are listed on the TSX under the symbol "PWX". Series I Convertible
Debentures of PrimeWest trade on the TSX under the symbol "PWI.DB.A", Series II
Convertible Debentures trade under the symbol "PWI.DB.B" and Series III Convertible
Debentures trade under the symbol "PWI.DB.C".
To learn more about PrimeWest, please visit our website at www.primewestenergy.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
PrimeWest Energy Trust
George Kesteven
Manager, Investor Relations
(403) 699-7367 or Toll Free: 1-877-968-7878