Oilexco Appoints Interim CFO
21 Mai 2009 - 8:00AM
UK Regulatory
TIDMOIL
Oilexco Appoints Interim CFO
FOR: OILEXCO INCORPORATED
LSE, TSX VENTURE SYMBOL: OIL
May 20, 2009
Oilexco Appoints Interim CFO
CALGARY, ALBERTA--(Marketwire - May 20, 2009) - Oilexco Incorporated ("Oilexco" or "the Company") (TSX
VENTURE:OIL) (LSE:OIL) advises that Mr. Brian Ward is no longer serving as the Company's Chief Financial
Officer. Aleksandra Owad, Oilexco's Chief Accounting Officer, has been appointed interim CFO.
About the Company
Oilexco shares are listed for trading on the TSX Venture Exchange (TSX-V) under the symbol "OIL".
Forward Looking Statements
All statements included in this press release that address activities, events or developments that Oilexco
expects, believes or anticipates will or may occur in the future are forward-looking statements. Such
statements involve substantial known and/or unknown risks and uncertainties, some of which may be beyond
Oilexco's control, including: the uncertainty of court proceedings under the Companies' Creditors Arrangement
Act (Canada), the impact of general economic conditions in the areas in which Oilexco operates, civil unrest,
industry conditions, changes in laws and regulations and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity
prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of
regulatory authorities. As such, caution should be exercised by the reader wherever forward looking statements
are made. On January 7, 2009, Oilexco's wholly-owned subsidiary, Oilexco North Sea Limited ("ONSL"), was
subject to an order from the UK court appointing administrators. The assets held within ONSL comprised nearly
all the assets held by the parent company, Oilexco Inc. On March 25, 2009, the Administrators announced that an
agreement had been reached with an outside party to purchase ONSL. The Company is currently under a court order
for protection under the Companies' Creditors Arrangement Act (Canada).
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FOR FURTHER INFORMATION PLEASE CONTACT:
Oilexco Incorporated
Arthur S. Millholland
President
(403) 262-5441
OR
Oilexco Incorporated
Rob Elgie
Manager Investor Relations
(403) 262-5441
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
INDUSTRY: Energy and Utilities-Oil and Gas
SUBJECT: COF
OILEXCO INCORPORATED
Oilexco (LSE:OIL)
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