|By Marketwired .||
|June 30, 2014 04:05 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 06/30/14 -- GASFRAC Energy Services Inc. (TSX:GFS) (the "Corporation") today announced that Pierre Jungels has resigned as a member of the board of directors, effective immediately. In his resignation, Mr. Jungels cited potential conflicts of interest with his directorship role at Baker Hughes Inc.
The Corporation is also pleased to announce the appointment of Robert McBean, as a director of the Corporation, effective immediately. Mr. McBean is a long-time Calgarian currently residing in Dubai, UAE. Mr. McBean has over forty (40) years' experience in the petroleum and natural gas industry. He is an accomplished energy project developer and has significant experience both as a private and public company senior executive and director. Mr. McBean is currently the Executive Chairman of Wentworth Resources Limited, a Calgary-based oil and gas exploration and production company with assets in East Africa and dually listed on London AIM and Oslo Bourse. He is the former Managing Director and developer of Qatar Fuel Additives Company Limited (QAFAC) a world scale methanol and MTBE facility in Qatar. Prior to QAFAC, he was the Managing Director and developer of the Dubai Natural Gas Company (DUGAS) an associated gas processing facility in Dubai, UAE. He has also served as the Non-Executive Chairman of Black Marlin Energy Holdings Limited and was the co-founder and a director of Scarboro Resources Limited; both were publicly listed on the TSX. During his distinguished international career, he has worked and lived in Calgary, London, Doha and Dubai.
In connection with his departure, Mr. Jungels commented, "GASFRAC is a unique opportunity in the evolving petroleum and natural gas services industry to provide proven economically-friendly alternative to hydraulic fracing in regions that have water scarcity or a geological predisposition. With a new board and a renewed effort to strategically approach markets, I am confident they will realize the Corporation's true potential. I wish GASFRAC success in its future endeavours."
Mark Williamson, Chairman of the Board of the Corporation, commented, "We are disappointed that Pierre was conflicted from completing his term, but we would like to thank him for his valuable insight during his short period of service. We also welcome Robert McBean to replace him, an industry executive with significant international experience in the upstream, midstream and downstream oil and gas industries."
GASFRAC Energy Services, Inc. is an oil and gas technology and service company headquartered in Calgary, Alberta and the sole provider of gelled LPG fracturing technology and other fluid fracturing systems in North America.
GASFRAC Energy Services Inc.
James M Hill
Chief Executive Officer