Published: November 07, 2005
Canary Resources Announces Senior Management Appointments
William M. Chandler, Jr., President and Chief
Executive Officer of Canary Resources Inc. (OTC: CYRR), today announced
three appointments to the Senior Management Team of the Company for its
Kansas Coalbed Methane ("CBM") operations headquartered in Stilwell,
Kansas. Mr. Stephen Allee has been appointed Senior Vice-President of
Operations, Mr. James Steinheider has been appointed Senior Vice-President
of Finance, and Mr. Rex Ashlock has been appointed Senior Vice-President of
Drilling and Exploration.
Mr. Allee has over twenty-three years of experience in the oil and gas
industry and is a Licensed Professional Geologist in the State of Kansas.
During his career he has worked for various oil and gas companies in
geological, exploration, and management roles. In 1989 he founded a
consulting firm specializing in the design, operations, and management of
oil and gas properties with particular focus on coalbed methane wells. Mr.
Allee holds a B.S. degree in Earth Sciences from Northwest Missouri State
University, and was employed by Osborn Energy, LLC, between 1998 and 2005.
Mr. Steinheider has a B.S. degree in Accounting from the University of
Missouri. He is a Certified Public Accountant with over thirty-three years
of experience in management, operations accounting and finance. He has
served as the Chief Financial Officer of several public and private
companies, including the past six years as the Chief Financial Officer of
Osborn Energy, LLC, a gas exploration and production company.
Mr. Ashlock is a Geologist with over twenty-six years experience in the oil
and gas industry with a focus on well site geology, drilling, and
production supervision. Mr. Ashlock owned and operated his own geological
consulting firm before joining Osborn Energy, LLC, in 1998, and holds a
B.S. degree in Earth Sciences from Emporia State University.
"Canary Resources is very fortunate to have individuals of Steve, Jim and
Rex's caliber as the newest members of our Management Team," commented Mr.
Chandler. "Their knowledge and experience in the oil and gas industry makes
them a key component in our growth plans and ability to enhance our
shareholders' value. Their combined experience and expertise will allow
Canary Resources to exploit its exciting opportunities in the Eastern
Forest City Basin and we are now in position to develop our coalbed methane
acreage as soon as pipeline negotiations are concluded."
Canary Resources Inc. is an independent Oil and Natural Gas Company engaged
in the acquisition, exploitation, production and development of oil and
natural gas properties. Canary has land holdings in the Eastern Forest
City Basin in Kansas and Missouri with a focus on the development of the
coalbed methane resources that exist there. Coalbed methane is methane gas
that occurs in coal beds and has been generated during the conversion of
plant material to coal. Although minor differences in geologic conditions
alter production methods, coalbed methane is transported, sold and used in
a similar way to natural gas produced from conventional gas and petroleum
fields.
Portions of this document include "forward-looking statements," which may
be understood as any statement other than a statement of historical fact.
Forward-looking statements contained in this document are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current expectations
and are subject to uncertainty and changes in circumstances. We have
tried, whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates," "expects,"
"intends," "plans," "potential" and similar expressions. Actual results
may vary materially from management's expectations and projections
expressed in this document. Certain factors that can affect the Company's
ability to achieve projected results include, among others, production
variances from expectations, uncertainties about estimates of reserves,
volatility of oil and gas prices, the need to develop and replace reserves,
the substantial capital expenditures required to fund operations,
environmental risks, drilling and operating risks, risks related to
exploratory and development drilling, competition, government regulation
and the ability of the Company to implement its business strategy.
Copyright© 2005. All rights reserved Canary Resources Inc.
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