COI Ceiba Energy Services, Inc.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


Cancen Oil Canada Inc. ("Cancen" or the "Company") (TSX VENTURE:COI) is pleased
to announce the filing of its quarterly financial results for the three month
period ended March 31, 2012. The complete interim financial statements for
Cancen for the three month period ended March 31, 2012 and management's
discussion and analysis for the same period are available for viewing on SEDAR
at www.SEDAR.com.


Cancen is also pleased to announce that it has appointed Ronald G. Panchuk as
Director and Vice-President, Business Development and Legal and Christopher D.
Scase as Chief Financial Officer, subject to the approval of the TSXV Venture
Exchange (the "TSXV").


Mr. Panchuk has 27 years of experience as a legal consultant and commercial
negotiator primarily for international oil and gas companies in Canada, the
United States and the Middle East. Admitted as a Barrister and Solicitor in the
Province of Alberta, he has an LLB from the University of Manitoba graduating in
1982. Mr. Panchuk has also served as Corporate Secretary of Azabache Energy Inc.
(a TSXV listed company) from March 2010 to the present.


Mr. Scase obtained his Bachelor of Commerce Degree from the University of
Calgary in 1995 and his CGA designation in 2001. He has worked in a public
practice accounting firm since 1996 and has been managing partner of the firm's
Calgary office since 2001. More recently he has been a director or officer of
various private and public oil and gas companies operating in the Western Canada
sedimentary basin.


The Company also announces that, further to its press release on April 9, 2012,
that it has elected not to pursue the transaction contemplated in the letter
agreement to acquire all of the outstanding shares of Sustainable Environmental
Technologies Corp. The Company will continue to investigate market opportunities
that will allow it to further enhance shareholder value.


About Cancen

Cancen is an energy services company that focuses on providing specialized
services to upstream oil and natural gas companies operating in the Western
Canadian Sedimentary Basin. The services provided by Cancen assist these
companies with the treatment and sale of crude oil and the handling of
by-products associated with oil and natural gas development and production. The
services provided by Cancen include crude oil emulsion treatment, oilfield waste
processing, and disposal of produced and waste water. As at the date hereof, the
Corporation's services are provided at five facilities in Alberta and one
facility in British Columbia.


This news release contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements or information are based on current
expectations, estimates and projections that involve a number of risks and
uncertainties which could cause actual results to differ materially from those
anticipated by the Company. The forward-looking statements or information
contained in this news release are made as of the date hereof and the Company
does not undertake any obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


The securities of Cancen have not been, nor will be, registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold within
the United States or to, or for the account or benefit of, U.S. persons absent
U.S. registration or an applicable exemption from U.S. registration
requirements. This new release does not constitute an offer for sale of
securities in the United States.

Ceiba Energy Services, Inc. (TSXV:COI)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Ceiba Energy Services, Inc. (TSXV:COI)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024