Forest Oil Announces Personnel Change
DENVER -- August 5, 2013
Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced an
executive personnel change.
Mr. Victor A. Wind, currently Forest’s Senior Vice President, Chief Accounting
Officer, Corporate Controller and Treasurer, has been promoted to the position
of Executive Vice President, Chief Financial Officer and Treasurer effective
August 24, 2013. Mr. Wind will be responsible for overseeing all financing
activities of the Company and directing its accounting, treasury, corporate
planning, investor relations, tax, and information technology functions. Mr.
Wind started his career in public accounting in 1995, later served in various
management positions, including Director of Financial Reporting and
Controller, at Evergreen Resources, Inc. from July 2001 through December 2004,
and joined Forest as Controller - Financial Accounting in January 2005.
Mr. Michael N. Kennedy, Forest’s current Executive Vice President and Chief
Financial Officer, has resigned his position, effective August 23, 2013, to
pursue other opportunities in the oil and gas industry.
Patrick R. McDonald, President and CEO, stated, “We are pleased to announce
Victor’s promotion. Victor has been intimately involved and instrumental in
the execution of Forest’s turn-around strategy, and we look forward to his
continued leadership in his new position. I also want to thank Michael for his
years of service and contributions to the Company, and I wish him well in his
This news release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of historical
facts, that address activities that Forest assumes, plans, expects, believes,
projects, estimates or anticipates (and other similar expressions) will,
should or may occur in the future are forward-looking statements. The
forward-looking statements provided in this press release are based on
management's current belief, based on currently available information, as to
the outcome and timing of future events. Forest cautions that future natural
gas and liquids production, revenues, cash flows, liquidity, plans for future
operations, expenses, outlook for oil and natural gas prices, timing of
capital expenditures, and other forward-looking statements relating to Forest
are subject to all of the risks and uncertainties normally incident to their
exploration for and development and production and sale of liquids and natural
These risks relating to Forest include, but are not limited to, liquids and
natural gas price volatility, its level of indebtedness, its ability to
replace production, its ability to compete with larger producers,
environmental risks, drilling and other operating risks, regulatory changes,
credit risk of financial counterparties, risks of using third-party
transportation and processing facilities and other risks as described in
reports that Forest files with the SEC, including its Annual Report on Form
10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Any of
these factors could cause Forest's actual results and plans to differ
materially from those in the forward-looking statements.
Forest Oil Corporation is engaged in the acquisition, exploration,
development, and production of natural gas and liquids in the United States
and selected international locations. Forest's estimated proved reserves and
producing properties are located in the United States in Arkansas, Louisiana,
Oklahoma, Texas, and Wyoming. Forest's common stock trades on the New York
Stock Exchange under the symbol FST. For more information about Forest, please
visit its website at www.forestoil.com.
Forest Oil Corporation
Larry C. Busnardo, 303-812-1441
Director – Investor Relations
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