CALGARY, ALBERTA–(Marketwired – March 25, 2014) – Manitok Energy Inc. (the “Corporation” or “Manitok“) (TSX VENTURE:MEI) Manitok is pleased to announce the appointment of Tim Jerhoff as the Corporation’s new Vice President Production and Engineering. Mr. Jerhoff is a professional engineer with over 25 years of experience in the Canadian oil and gas industry. Mr. Jerhoff began his career with Petro-Canada in 1988 and he eventually became Team Lead, northeast BC natural gas and was responsible for growing the business to about 8,300 boepd. In 1996, Mr. Jerhoff joined Richland Petroleum where he spent six years as Vice President, Engineering and Corporate Development, building the company to over 6,000 boepd while focusing on assets in southeast Saskatchewan and southern Alberta. Subsequent to the sale of Richland Petroleum to Provident Energy Trust, Mr. Jerhoff was a member of the management team at Terraquest Energy, which was sold to Masters Energy in 2004. Following Terraquest, Mr. Jerhoff spent six years with Provident Energy Trust leading a multi-disciplinary development team focused in Southern Alberta and Dixonville, Alberta and was responsible for managing over 6,500 boepd. Mr. Jerhoff’s most recent role was as Manager, Clearwater South Production at Encana Corporation where he was responsible for managing 30,000 boepd and a capital program of over $100 million per year.
The Corporation wishes to announce the departure of Yvonne McLeod as Manitok’s Vice President, Drilling and Facilities. The board of directors of Manitok thanks Ms. McLeod for her service and wishes her every success in the future. Jim Roth, Drilling Manager, will take over Ms. McLeod’s drilling engineering duties while Tim Jerhoff will take over the facility engineering duties. Mr. Roth has been primarily responsible for the day to day drilling operations since joining Manitok in July 2013. Mr. Roth has over 20 years of experience with drilling, completions, production and operational experience. Mr. Roth comes to Manitok after spending most of his career at Talisman Energy where he gained experience drilling throughout Canada and north eastern United States before joining the Foothills team at Talisman.
Manitok is a public oil and gas exploration and development company focusing on conventional oil and gas reservoirs in the Canadian foothills and Southeast Alberta. The Corporation will utilize its experience and expertise to develop the untapped conventional oil and liquids-rich natural gas pools in both the Foothills and Southeast Alberta areas of the Western Canadian Sedimentary Basin.
For further information view our website at www.manitokenergy.com.
The term barrels of oil equivalent (“boe“) may be misleading, particularly if used in isolation. Per boe amounts have been calculated using a conversion ratio of six thousand cubic feet (6 mcf) of natural gas to one barrel (1 bbl) of oil. The boe conversion ratio of 6 mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Manitok Energy Inc.
Massimo M. Geremia
President & Chief Executive Officer