CALGARY,
AB, May 17, 2022 /CNW/ - Stampede Drilling
Inc. ("Stampede" or the "Corporation") (TSXV: SDI) held its annual
and special meeting of shareholders in Calgary today.
At the meeting, the shareholders elected the following
directors: Thane Russell, Lyle
Whitemarsh, Elson McDougald,
Murray Hinz, Terrance Owen and Diane
Brickner.
Following the meeting, the Board of Directors appointed
Elson McDougald as Chairman of the
Board. Mr. McDougald, who has been a director of Stampede since
2017, has an outstanding track record for creating shareholder
value in numerous public companies over the past 40 plus years in
the western Canadian drilling services industry, including Laredo
Drilling, Tetonka Drilling, Western Lakota Energy Services and
CanElson Drilling.
Mr. McDougald commented: "Lyle
Whitemarsh, President & CEO of Stampede, has done an
exceptional job in prudently managing and growing the business of
Stampede over the past four plus years, during very challenging
times for the drilling services industry. We have hit a significant
inflection point in the demand for contract drilling services in
both Canadian and international markets, and I look forward to
supporting Lyle and his team as Stampede enters what should be a
very exciting next phase of the Corporation's growth."
Lyle Whitemarsh also commented:
"Stampede has many opportunities ahead and we are very fortunate to
have access to Elson's depth of experience with public companies in
the drilling services area in his role as Board Chairman."
"We are very grateful for the many contributions of Thane over
the last 6 years as Chairman of Stampede. In his ongoing role
as a Director of Stampede, Thane's extensive expertise on formation
production and downhole equipment commercialization in both the
Canadian and international markets will be invaluable in our entry
into the Under Balanced Coil Tubing drilling business," said Mr.
McDougald.
For a summary of certain risk factors relating to the business
of the Corporation and its subsidiaries, and the ownership of the
Corporation's shares, shareholders, prospective investors and
readers should refer to the Corporation's publicly filed Annual
Information Form dated March 24,
2022.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Stampede Drilling Inc.
