CALGARY, ALBERTA--(Marketwire - May 11, 2012) - Wenzel Downhole Tools Ltd. (WZL.TO - News) (the "Company") announces that Mr. Ken Hughes, Interim Chief Executive Officer and Chairman of the Board of Directors of the Company, was recently elected a Member of the Legislative Assembly of Alberta and has been appointed the new Minister of Energy for the Government of Alberta. As a result, Mr. Hughes has provided his notice of resignation as the Company's Interim Chief Executive Officer and as a director effective May 8, 2012. The Company wishes to thank Mr. Hughes for his dedicated contributions to the Company over a period of more than seven years, and in particular for his recent contributions as the Company's Interim Chief Executive Officer.
The Company is pleased to announce the appointment of Charles Laurey as Chairman of the Board. Mr. Laurey has been a member of the Board since November of 2011.
The Company also expects to make an announcement very shortly regarding the Company's succession arrangements for the position of Chief Executive Officer.
About Wenzel Downhole Tools Ltd.
Wenzel Downhole Tools Ltd. is a manufacturer, seller and renter of drilling tools used in oil and gas exploration. Wenzel's Canadian sales, manufacturing and servicing facilities are located in Edmonton, Alberta and its US servicing facilities are located in Conroe, Texas, Morgantown, West Virginia and Casper, Wyoming. Wenzel's main corporate office is located in Calgary, Alberta, and it has a sales and service facility in Celle, Germany. Wenzel Downhole Tools Ltd. is listed for trading on the TSX, symbol WZL.
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- Ken Hughes
- Chief Executive Officer
Wenzel Downhole Tools Ltd.
Chief Financial Officer
(403) 265-8154 (FAX)