CLEARVIEW RESOURCES LTD. ANNOUNCES MANAGEMENT CHANGE

CALGARY, AB, Sept. 12, 2022 /CNW/ - Clearview Resources Ltd. ("Clearview" or the "Company") today announced that Mr. Tony Angelidis has retired, as President and Chief Executive Officer, effective September 1, 2022. 

Mr. Angelidis was instrumental in directing the Company to drill its first operated wells utilizing innovative drilling techniques to unlock the development potential of Clearview's assets.  Of perhaps greater importance, he guided Clearview through extremely difficult times during the COVID-19 pandemic and associated historically low commodity prices.  As a result, Clearview has emerged as a balanced oil and gas producer with a low decline production base and line-of-sight to being debt free before the end of 2022.

"It was a pleasure to work with Tony over these past five years.  We enjoyed some very exciting times, and successfully navigated some very challenging circumstances together. I would like to sincerely thank Tony, on behalf of the Board of Directors, for his service to Clearview. Tony has expressed a strong desire to spend more time with his family and we wish all of them the best as they start this next chapter in their lives", commented Lindsay Stollery, Board Chair.

The Board of Directors has appointed Mr. Rod Hume as interim President and Chief Executive Officer effective September 2, 2022. Mr. Hume joined the Company in September 2021 as Vice President Engineering and Chief Operating Officer.  Rod is a professional engineer with over 25 years of industry experience in the acquisition, production, development and exploitation of oil and gas assets and formerly Senior Vice President, Engineering at Delphi Energy Corp.

"I'm very excited to be a part of the Clearview team as it maps out its new strategic path with a primary emphasis of providing liquidity to its shareholders", said Mr. Hume.  "Clearview is in a strong financial and operational position to be able to execute on any number of strategic directions.  I would like to thank the Board for their support and look forward to continuing to work closely with them as we move forward".

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Note Regarding Forward-Looking Statements

This press release contains statements that may be deemed forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws. Such statements relate to possible future events, typically use words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future.

The forward-looking information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking information are based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Please refer to the risk factors identified in the Company's most recent annual information form and management discussion & analysis, which are available on SEDAR at www.sedar.com. The forward-looking information contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Clearview Resources Ltd.