Canada Southern Announces Strengthening of Senior Management Team
02 April 2004 - 2:42AM
PR Newswire (US)
Canada Southern Announces Strengthening of Senior Management Team
CALGARY, Alberta, April 1 /PRNewswire-FirstCall/ -- The Board of
Directors of Canada Southern Petroleum Ltd. (Nasdaq: CSPLF;
Toronto/Boston/Pacific: CSW) today reported two important
management additions that are expected over time to contribute
substantially to shareholder value. These are John W. A. McDonald,
President and Chief Executive Officer, and Todd R. Klippenstein,
Controller. Mr. McDonald joins the Company, effective April 1,
2004, from AltaGas Services Inc. where he has most recently been in
charge of that company's exploration and production subsidiary.
From 1989 to until joining AltaGas in 1994, he held vice president
positions in operations, supply and marketing for Western Gas
Marketing Limited, a subsidiary of TransCanada Pipelines Limited.
From 1971 until joining TransCanada, Mr. McDonald worked for
Imperial Oil Limited/Esso Resources Canada Limited in positions of
increasing responsibility dealing with corporate planning, and oil
and gas production. He holds Bachelor (highest distinction) and
Master of Engineering degrees from Carleton University (Ottawa),
M.B.A. from University of Toronto, and has completed the Advanced
Executive Program at the Kellogg Graduate School of Business,
Northwestern University. Effective March 15, 2004, Mr. Klippenstein
brought to the Company a skill set that he has developed over a
20-year career in the oil and gas industry. Since graduating from
the University of Alberta with a Bachelor of Commerce degree, he
has worked at a number of small to medium sized private and public
oil and gas companies. Mr. Klippenstein will report to Randy
Denecky, who had been serving as the Acting President of the
Company. Mr. Denecky will continue to serve as the Company's Chief
Financial Officer. With these two gentlemen joining Randy Denecky,
who has served the Company and its shareholders so ably since
joining it in 2001, Canada Southern has established the core of a
senior management team tailored to make optimal use of the
Company's assets and opportunities. Canada Southern Petroleum Ltd.
is an independent energy company based in Calgary, Alberta, Canada.
The Company is engaged in oil and gas exploration and development,
with its primary interests in producing properties in the Yukon
Territory and British Columbia, Canada. The Company's limited
voting shares are traded on the Nasdaq SmallCap Market under the
symbol "CSPLF," and on the Boston Stock Exchange, the Pacific
Exchange, Inc. and the Toronto Stock Exchange under the symbol
"CSW." Any statements in this release that are not historical in
nature are intended to be, and are hereby identified as
"forward-looking statements" for purposes of the "Safe Harbor
Statement" under the Private Securities Litigation Reform Act of
1995. Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those indicated in the forward-looking statements. Among these
risks and uncertainties are uncertainties as to the costs, pricing
and production levels from the properties in which the Company has
interests, the extent of the recoverable reserves at those
properties, and the costs associated with the potential conversion
of the Company's carried interest to a working interest at
Kotaneelee. The Company undertakes no obligation to update or
revise forward-looking statements, whether as a result of new
information, future events, or otherwise. DATASOURCE: Canada
Southern Petroleum Ltd. CONTACT: Randy Denecky, Chief Financial
Officer of Canada Southern Petroleum Ltd., +1-403-269-7741
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