Cyries Energy

Cyries Energy Inc. (TSX: CYS) is a growth-oriented oil and gas exploration and production company. Production is weighted 75% towards natural gas with current operations entirely within the Province of Alberta. Cyries Energy was created when Progress Energy and Cequel Energy jointly announced on April 26, 2004 they were combining the two companies... to create Progress Energy Trust. The non-royalty trust suitable assets were put into two exploration companies, Cyries Energy and ProEx Energy. The management team at Cyries includes: President and CEO Donald F. Archibald, who held the same position at Cequel Energy; Brendan Carrigy, VP Exploration and Mike Kabunek, COO and VP Operations. Archibald and his team grew Cequel Energy from 1,200 boe/d to 12,000 boe/d in two years. Per share growth in production increased by four times during this period. Cyries has current production of 1,050 boe/d, with its main producing assets in the Deep Basin (Gold Creek) and on the Peace River Arch where the management team had significant success with Cequel Energy.Read More