CALGARY, ALBERTA--(Marketwire - Nov. 23, 2010) - NuVista Energy Ltd. (TSX:NVA) ("NuVista") announces that Alex G. Verge, President & Chief Executive Officer of NuVista, has resigned at the request of the board of directors effective immediately.
"I have enjoyed my time at NuVista and would like to thank all of the employees of NuVista for their support and hard work in building NuVista to the company that it is today," stated Alex G. Verge. "I am extremely proud of the team that we have built at NuVista and believe that this team has the skills and drive to take NuVista to greater heights."
Keith A. MacPhail, Chairman of NuVista, stated that, "On behalf of the board of directors and employees of NuVista we would like to extend our sincerest thanks to Alex for his contribution towards the development of NuVista over the last 7 ½ years and wish him the best in his future endeavors. Alex's dedication and hard work have been instrumental in building NuVista from a junior oil and gas company in 2003 to a dynamic intermediate oil and natural gas company that NuVista is today".
NuVista also announces that Robert F. Froese has been appointed Interim President & Chief Executive Officer of NuVista. The board of directors have also formed an Executive Committee consisting of Keith A. MacPhail, Clayton H. Woitas and Ronald G. Poelzer to assist the management of NuVista and to conduct an executive search for a President and Chief Executive Officer.
NuVista is an independent Canadian oil and natural gas exploration, development and production company with its common shares trading on the Toronto Stock Exchange under the symbol "NVA".