Epic Energy Announces Management Change.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--Sept. 12, 1997--Epic Energy(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). EPI EPI exocrine pancreatic insufficiency. . ) The Epic Energy Inc. Board of Directors to-day announced a change in senior management which will take effect immediately. Mr. R.K. Cormick has relinquished re·lin·quish tr.v. re·lin·quished, re·lin·quish·ing, re·lin·quish·es 1. To retire from; give up or abandon. 2. To put aside or desist from (something practiced, professed, or intended). 3. his duties as President and Chief Executive Officer and is appointed Deputy Chairman. He will continue as a director of the Company and act as special advisor to the Board and senior management, with primary focus on Ukraine government relations and inter-company negotiations at a senior level. Mr. John Beddome, a director of Epic, has been appointed President and Chief Executive Officer on an interim basis. To further strengthen the Company's capabilities to deal with governmental, legal, and regulatory issues in Ukraine, which are very important, Mr. Laurence Decore Laurence G. Decore (June 28, 1940 - November 6, 1999) was a Ukrainian-Canadian lawyer and politician from Alberta. He was mayor of Edmonton, a member of the Legislative Assembly of Alberta, and leader of the Alberta Liberal Party. , an Epic director, is appointed Deputy Chairman. The shallow-depth oil development program upon which the Company embarked earlier this year is a major disappointment. The Company's management will immediately re-assess Epic's position, evaluate all of its options, and develop a comprehensive action plan for consideration and approval by the Board of Directors. The primary objective will be to maximize the value of Epic's assets, including, of course, the production-sharing contract position negotiated in Crimea. While the new action plan must be developed with both care and realism, the Board of Directors is determined to expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex ensure that the Company's resources are utilized in the best manner possible. -0- THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Epic Energy Inc. George Stephenson, 403/543-5670 |
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