"The company is currently engaged in negotiations to purchase substantial interest in large areas of the Western Canadian Basin," said Elroy Fimrite, SNRG's president and CEO. "We are establishing infrastructure and management to support those acquisitions."
The subsidiary will be staffed by Alan Le Bis, who will serve as vice president and chief operating officer, and Ross E. Moulton, exploration advisor.
"The company is establishing a strong management team with a commitment to rapid growth and development of a solid production base in western Canada," said Fimrite. "We expect to expand our exploration and development in Canada and, with the caliber of management we have attracted in Alan and Ross, expect to be very effective in adding reserves and production."
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