Canadian Energy Co. Pegasus O&G Waves Good-Bye to Director

Pegasus Oil & Gas announced that Dale Mennis has tendered his resignation as a director of the Corporation for personal reasons. Pegasus thanks Mr. Mennis for his contributions during his tenure as a director of the Corporation.

Dale C.J. Mennis is a member of the Canadian Association of Landmen and has over 25 years of experience in the oil and gas industry. Mr. Mennis has worked in various management positions in a number of successful small and medium sized public oil and gas companies. Mr. Mennis was Vice President and Manager of several business units for Encal Energy Ltd., Vice President, Exploration and Development for Calpine Canada and is currently Vice President, Business Development of Daylight Energy Trust.

Pegasus Oil and Gas Inc. is a public Canadian energy company with a focus on the exploration and development of liquid rich natural gas in central Alberta.