Trican Well Service Ltd. Announces Retirement of Alex Pourbaix

Calgary, Alberta--(Newsfile Corp. - December 16, 2019) - Trican Well Service Ltd. (TSX: TCW) ("Trican" or the "Company") announced today that Mr. Alexander J. Pourbaix will retire as a member of the Board of Directors on December 31, 2019 to focus on his role as President and Chief Executive Officer of Cenovus Energy Inc., as well as his other commitments as Board Chair at Mount Royal University and incoming Board Chair at the Canadian Association of Petroleum Producers (CAPP). Mr. Pourbaix has served as a member of the Board since May 2012, was chair of the Company's Human Resources and Compensation Committee and a member of the Corporate Governance Committee.

Dale Dusterhoft, President and CEO of Trican, commented: "I consider myself very fortunate to have had the opportunity to work with Alex over the last 7 years. Not only is he a great business leader but he has played a pivotal role in guiding the Company through the tumultuous times faced in the oil and gas industry of late. On behalf of the Company's Board of Directors, management, employees and stakeholders, I would like to express our thanks to Alex for his dedication and leadership and wish him all the best in his future endeavors. We appreciate his time and efforts with the Company particularly in light of his tremendous obligations as the head of Cenovus. Alex is very highly regarded in the community and his leadership on the board will be missed. We thank Alex for his leadership and steadfast commitment to the Company's leadership and governance."

The Company does not anticipate appointing a replacement for Mr. Pourbaix at this time.

FORWARD-LOOKING STATEMENTS

Certain statements and other information contained in this press release constitute "forward-looking information" and/or "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively "forward-looking statements"). These forward-looking statements relate to future events or our future performance. All statements in this press release other than those relating to historical facts or current conditions are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "estimate", "expect", "intend", "plan", "planned", and other similar terms and phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors (many of which are beyond our control) that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Therefore, the forward-looking statements included in this press release should not be unduly relied upon.

In particular, this press release contains forward-looking statements pertaining to, but not limited to information regarding the retirement of Mr. Pourbaix and the appointment of his replacement.

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Trican disclaims any intention or obligation to update or revise any forward-looking statements in this press release as a result of new information or future events, except as may be required under applicable Canadian securities legislation.

Additional information regarding Trican including Trican's most recent Annual Information Form is available under Trican's profile on SEDAR (www.sedar.com).

About Trican

Headquartered in Calgary, Alberta, Trican provides a comprehensive array of specialized products, equipment and services that are used during the exploration and development of oil and gas reserves.

Requests for further information should be directed to:

Dale Dusterhoft 
President and Chief Executive Officer 
E-mail: investors@trican.ca

Robert Skilnick 
Chief Financial Officer 
E-mail: investors@trican.ca 
Phone: (403) 266-0202 
Fax: (403) 237-7716 
2900, 645 - 7th Avenue S.W. 
Calgary, Alberta T2P 4G8

Please visit our website at www.tricanwellservice.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50803