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CALGARY, June 13, 2014 /CNW/ - High Arctic Energy Services Inc. (TSX: HWO)
("High Arctic" or the "Company") is pleased to announce the planned addition
of two new executives. Mr. Tim Braun has agreed to join High Arctic as Chief
Executive Officer effective on July 2, 2014. Tim has spent 33 years in the
oilfield services sector primarily with several large drilling contractors.
Most recently, he spent eight years as a senior executive with an
international drilling contractor, Saxon Energy Services, in several
capacities including Chief Operating Officer. Prior thereto, he spent over 10
years with Precision Drilling Corporation. With his extensive background in
international oilfield services, Tim brings valuable experience to High Arctic
as it grows its international operations and seeks to expand its Canadian
services. Tim will be based in the Calgary office.
Mr. Darren Greer has also agreed to join High Arctic with an expected start
date in September. Darren will take over the role of President, International
and will have overall responsibility for the business in Papua New Guinea and
for developing additional regional business opportunities. Darren will be
based in the newly established Brisbane office. Darren is a professional
engineer and spent twelve years in senior petroleum and drilling engineering
roles, primarily with a major Australian oil company. For the past four
years, he has been an executive with Easternwell, an Australia oilfield
services contractor, most recently as Chief Operating Officer. His extensive
knowledge of the business from an operator perspective will be valuable in
delivering solutions to our customers.
With the appointment of Mr. Braun, Dennis Sykora will step down from the role
of Interim Chief Executive Officer. He will continue as a member of the Board
of Directors and will provide support as a member of its Executive Committee.
With the appointment of Darren, Kevin Doran, the current President,
International, is expected to transition into retirement. Mike Maguire, Vice
President International Operations, joined High Arctic in December 2013 and
has already assumed responsibility for the operations in Papua New Guinea as
part of the ongoing succession planning for High Arctic.
Michael Binnion, Chairman of High Arctic, stated, "Tim and Darren each bring a
complementary range of skills and experience which will benefit High Arctic as
it expands its business. We wish to thank Kevin for his tremendous efforts
during the past seven years. We recognize the instrumental role Kevin has
played in the growth and evolution of our business in PNG and I am confident
we are in good hands going forward. I am pleased that he will make himself
available to aid in the transition and we wish him improved health in his
This news release may contain forward-looking statements relating to expected
future events and financial and operating results of the Company 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 Company's Management's Discussion and
Analysis for the three months ended March 31, 2014 and in the Annual
Information Form for the year ended December 31, 2013 found on SEDAR
(www.sedar.com). Due to the potential impact of these factors, the Company
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 Company is a provider of specialized oilfield equipment and services for
drilling, completion and work over operations. Based in Alberta, High Arctic
has operations throughout Western Canada and in Papua New Guinea. The
Company's most recent investor presentation can be found at www.haes.ca.
SOURCE High Arctic Energy Services Inc.
Ken Olson, Chief Financial Officer, (403) 508-7836, firstname.lastname@example.org
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-0- Jun/13/2014 12:36 GMT
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