CAI, News

EDMONTON BASED OIL AND GAS SERVICES COMPANY APPOINTS NEW PRESIDENT

Edmonton, AB, April 2008 – Edmonton based Oil and Gas Services Company, Canadian Advanced Inc. (CAI) is pleased to announce the appointment of Leo Mangano as President and Chief Executive Officer (CEO), effective April 1, 2008.

Mangano joins CAI with many years of extensive operational experience in the ESP industry. Prior to joining CAI, Mangano held progressive management positions at Wood Group, Weatherford and Baker Hughes. Mangano brings strength in strategic business planning and a wealth of experience in the oil industry in Canada and abroad.

"I'm enthusiastic about this opportunity to lead CAI and I look forward to the challenges ahead. CAI has a talented team, and we are positioned well to take advantage of our product innovations and dedicated customer service," says Mangano.

In making the announcement, the Chairman of the Board, Juergen Schulz expressed the Board’s confidence in Mangano's strong history of being instrumental in building leading competitors in the ESP industry. "As CAI continues to grow its market penetration and product portfolio, we have now added entrepreneurial leadership with strong industry background. We look forward with enthusiasm and will continue to build success on our commitment to servicing customer needs without compromise."

Canadian Advanced is a Canadian based company providing complete Electrical Submersible Pumping Systems for Artificial Lift Applications, Horizontal Multi-Stage Pumping Systems for a variety of high pressure applications as well as Variable Frequency Generators to the Oil Industry worldwide. The company headquarter and main manufacturing, assembly and testing facility is based in Edmonton, Alberta, Canada, the heart of the Canadian Oil Industry.

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