High Arctic Announces Executive Appointment

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CALGARY, Alberta, May 19, 2020 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) is pleased to announce the addition of Christopher C. Ames as VP Finance & Chief Financial Officer (“CFO”).

Executive Appointment

Mr. Ames joined the Corporation in February 2020 as VP Finance.  His role was expanded to include that of Interim CFO shortly thereafter and has been intimately involved in developing and overseeing actions necessary to streamline the business and consolidate the finance and accounting processes within the Corporation. Mr. Ames is a Chartered Professional Accountant (CA) with over 25 years of experience, having been with Precision Drilling for 19 years in a number of senior financial roles from 2008 to 2018, including Senior International Controller, Director of Treasury, and Director of Reporting & Analytics, leaving to become an independent financial consultant assisting companies with financial, strategic planning and analysis, and merger and acquisition projects.  Mr. Ames obtained his Chartered Accountant designation with Arthur Andersen in 1996, and also holds a Bachelor of Commerce Honors degree from the University of Manitoba. 

Mike Maguire, Chief Executive Officer stated:  “I am very pleased with Mr. Ames substantive contribution to the new management team at High Arctic.  Chris’ 20-plus years of experience in oil field services in both the domestic and International markets has been an invaluable asset to the Corporation especially as we restructured to combine management teams and operate our business efficiently through the current economic crisis. Chris’ International experience coupled with his keen awareness of the importance of the integration of finance functions with the operations of our businesses has already lead to significant cost savings.”.

About High Arctic Energy Services

High Arctic’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea. The Canadian and US operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada and the United States.

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