CALGARY, ALBERTA--(Marketwire - Oct. 7, 2008) - Exall Energy Corporation ("Exall" or the "Corporation") (TSX:EE) is pleased to announce the appointment of Mr. Scott T. Bonli, C.A., as Vice President Finance and Chief Financial Officer.
Scott brings more than 25 years of financial management expertise to Exall. Prior to joining Exall, Scott was Vice President Finance and Chief Financial Officer at Endev Energy Inc., a TSX listed oil and gas company, a position he held since 2005. He began his financial career at Ernst & Young LLP, and has since held roles of increasing responsibility, several of which were senior roles in public and private oil and gas companies. As a key member of Exall's management team, Scott will provide financial leadership and play an important role supporting the Company's growth plans. Scott has a Bachelor of Commerce degree from the University of Saskatchewan and is a member of the Canadian and Alberta Institute of Chartered Accountants.
Scott Bonli replaces Exall's current Chief Financial Officer, Robert Edmunds, who is retiring. Mr. Edmunds will continue to act as a consultant to Exall.
"We want to thank Bob for his valuable contributions and service to Exall over the past two years since the Company was taken public," said Mr. Frank Rebeyka, Exall's Vice Chairman and CEO.
Exall has also appointed Mr. Douglas W. J. Goodyear, P.Geol. as a Geological Consultant to Exall.
Doug is a senior petroleum geologist with 30+ years in the oil and gas industry. During this time, he has been directly responsible for numerous successful wells, drawing upon his extensive experience and skills for practical analysis and interpretation, particularly in Exall's Mitsue core area. Doug holds a Bachelor of Science (Honours) Geology, from Dalhousie University Halifax, Nova Scotia and is a member of the Canadian Society of Petroleum Geologists (CSPG) and Association of Professional Engineers, Geologists and Geophysicists of Alberta (APEGGA).
The Corporation has granted incentive stock options to certain officers and employees (the "Options") to acquire up to an aggregate of 300,000 common shares of the Corporation under the Corporation's 2006 stock option plan. The Options are exercisable at $0.51 per share being the closing price of the Corporation's common shares on the TSX on the date immediately preceding the grant with each such option expiring 5 years from the date of grant. All Options are subject to the following vesting schedule: (i) 1/3 six months after the date of the grant, (ii) 1/3 twelve months from the date of the grant, and (iii) the final 1/3 eighteen months from the date of grant.
About Exall
Exall Energy Corporation is a junior oil and gas company active in its business of oil and gas exploration, development and production from its properties in Alberta, British Columbia and Texas. Exall is currently developing a new oil discovery in north-central Alberta which will add significant production over the next 6 months.
FOR FURTHER INFORMATION PLEASE CONTACT:
Exall Energy Corporation
Frank S. Rebeyka
Vice Chairman & CEO
(403) 237-7820 x 226 or Cell: (403) 815-6637
Exall Energy Corporation
Roger N. Dueck
President & COO
(403) 237-7820 x 223
Website: www.exall.com
