SARASOTA, FL — (Marketwired) — 11/12/13 — Frac Water Systems, Inc. (OTCQB: FWSI) (“FWSI” or the “Company”), a water and energy services company focused on delivering superior water management solutions to the US Oil & Gas Industry, is pleased to announce the appointment of Mr. Charles Watson to its Board of Directors.
Mr. Watson brings a career of hands-on experiences in the energy sector that began as a field engineer with the Bechtel Corporation which led to an extensive 29 year engagement with Royal Dutch Shell in both operational management and project delivery. During his tenure at Shell, he held a number of senior executive positions throughout the world, culminating in his appointment in May 2009, as Executive Vice President for Russia and the Caspian Region. This position included oversight of Shell–s activities in Kazakhstan, and service as Chairman of Shell Russia and as Chairman of the Board of Directors of Sakhalin Energy Investment Company, positions he held through late-2011.
Previously, he was Executive Vice President of Shell–s gas and power businesses in the Middle East and Africa, and as CEO of Shell Energy Europe where he was accountable for Shell–s gas, power and renewables businesses across the continent.
Since leaving Shell, Mr. Watson has served on the boards of several notable organizations. In June 2012, Mr. Watson was appointed as a non-executive Board Director of Bashneft, where he is a member of the Audit, HSE, and Strategy committees. Bashneft is a vertically integrated Russian oil company which, according to the Boston Consulting Group, was ranked ninth in the global top ten rankings of total shareholder return out of 1,616 companies in 25 industries.
In August 2011, he was appointed a non-executive Director of Kazakhmys PLC; a UK FTSE listed mining company, where he is chair of the HSE committee and a member of the Audit and Remuneration committees. In June 2012, Mr. Watson became a non-executive Director of Taipan Resources Inc., a development-stage exploration company operating in Kenya, and listed on the Canadian TSX market. Mr. Watson holds a Civil Engineering degree from London University and an MBA from INSEAD in France.
Company President & CEO Nadine Smith comments, “The opportunity to work with Charles is first and foremost a real pleasure, and I am personally very grateful he has elected to serve with us. His addition to the team provides us extraordinary access to some of our sectors– most influential individuals and organizations from around the globe. With this announcement, we aim to clearly position ourselves as a serious endeavor in the water treatment space. We have much work ahead, so we are committed to assembling a world-class board which we firmly believe can make an important difference in this increasingly competitive environment.”
Additional details regarding Frac Water Systems, Inc., its business, agreements and related matters are filed as part of the Company–s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission (“SEC”), and are available at the SEC–s website at . For more information, visit .
(OTCQB: FWSI)
Frac Water Systems Inc. (FWSI) is an oilfield service company focused on delivering innovative and environmentally responsible water treatment services to energy companies who are daily confronting the challenge of how to cost effectively manage water issues related to their oil & gas exploration and production activities. Operators within the USA and around the globe are experiencing a relentless need to responsibly manage the generation of large quantities of wastewater from activities in environments and water conditions that may differ dramatically across producing basins. FWSI has identified that the conscientious handling of flowback water generated from fracing, together with the longer term separation and disposal needs of produced water generated throughout the entire life of a well, presents an immediate and compelling business opportunity with long term upside potential. FWSI aims to offer Exploration & Production companies flexibly tailored, efficient, economical and scalable end-to-end wastewater treatment solutions designed to meet or exceed the environmental concerns of government, industry and the public alike. For more information visit: .
Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in Frac Water System Inc.–s filings with the Securities and Exchange Commission available at: Frac Water Systems Inc. disclaims any obligation to update and revise statements contained in this news release and is current only to the date indicated in the particular press release. To the extent permitted by law, FWSI and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.
On Behalf of the Board,
Nadine C. Smith, CEO
Frac Water Systems, Inc.
FWSI Investor Relations
Tel: +1 (941) 330-6404
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