Gray Wireline Strengthens Executive Team with 3 New Appointments

Gray Wireline Service has announced changes to the company's executive management team with three new appointments effective immediately.

Jim Meneely has been appointed interim chief executive officer of Gray Wireline. He replaces Larry Cavanna, who resigned as president and chief executive officer. Tim Albers has been retained as a senior advisor, and David Apseloff has been named executive vice president and chief financial officer.

Mr. Meneely most recently served as an executive with Halliburton Company, where he was responsible for strategic planning, operations integration, and worldwide merger & acquisition activities. Prior to that, he worked for Kellogg Brown & Root and Simmons & Company International.

Tim Albers is a recognized leader in the oilfield services sector with over 30 years of operational and executive management experience in wireline services. In 1985, Mr. Albers co-founded a major Canadian wireline company, which has grown to be the largest privately-owned wireline business in Western Canada. As an executive and owner, Mr. Albers led the development of new technologies, equipment, and best practices that transformed the business into a leader in the Western Canadian market.

David Apseloff is a seasoned financial executive with over twenty years experience as chief financial officer in public and private companies. Mr. Apseloff has worked in a variety of different industries and companies, including Firearms Training Systems, Inc., Hyco International, Inc., Tug Technologies Corporation, DSI Holding Company, Inc., and most recently, Stag-Parkway, Inc.

"We appreciate the contributions Mr. Cavanna has made to Gray over the past several years, and we wish him well in his future endeavors," said Scott Perekslis, Chairman of Gray's Board of Directors.

"Looking forward," continued Mr. Perekslis, "we are committed to maintaining Gray's culture of excellence, ensuring that Gray continues to deliver consistently superb service to our customers and to provide a rewarding and safe workplace to our valued employees. We are pleased that Messrs. Meneely, Albers and Apseloff have agreed to join Gray, and we feel strongly that their experience and contributions will help Gray become an even better company."