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COI Ceiba Energy Services, Inc.

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Share Name Share Symbol Market Type
Ceiba Energy Services, Inc. TSXV:COI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Cancen Announces Name Change to Ceiba Energy Services, the Successful Workover of Chamberlain Disposal Well and Retention of ...

18/07/2013 1:00am

Marketwired Canada


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

Cancen Oil Canada Inc. (TSX VENTURE:COI) (the "Company" or "Ceiba Energy"), a
provider of specialized services to the energy sector, is pleased to announce
the following:




--  A name change to Ceiba Energy Services Inc.; 
--  The successful completion of the workover of its disposal well at the
    Chamberlain facility in Strathcona County, Edmonton; and 
--  The retention of Todd Hanas as an investor relations consultant. 



The shareholders of the Company today approved a name change to Ceiba Energy
Services Inc. Ceiba (pronounced "Say-bah") is drawn from the name of a species
of large trees found in Central and South America that has a rich environmental
connection. For more information on the background to the new name, please visit
our website at www.ceibaenergy.com. The Company's name change and trading under
a new stock symbol, CEB, is subject to approval by the TSX Venture Exchange. The
Company will issue a further news release once approval of TSX Venture Exchange
is obtained.


Ceiba Energy is pleased to announce the successful re-completion of the
Chamberlain Class II disposal well. At the end of the workover, two injection
tests were conducted by independent contractors into the targeted formation that
indicate the well's capability to dispose of 1,200 cubic meters (7,560 barrels)
per day. The Company is proceeding with the remaining engineering and
construction to complete the Custom Treating facility in 2013, on track with its
business plan to have three operating facilities open by year end.


The Company is also pleased to announce that it has entered into an investor
relations agreement (the "Services Agreement") with Skyblue Relations
("Skyblue"), a sole proprietorship, the principal of which is Todd Hanas
("Hanas"). The term of the Services Agreement is for an initial one year term
effective July 18th, 2013. The Company may terminate the Services Agreement at
any time after July 18th, 2014 or by providing two month's written notice.


Skyblue will assist the Company to implement a comprehensive investor relations
program designed to increase corporate communications to shareholders and the
financial community in general, while increasing share value and liquidity of
the Company. Skyblue and Hanas are at arm's length to the Company and do not
currently own any securities of the Company as of the date hereof but may
purchase securities in the Company from time to time for investment purposes.


Pursuant to the Services Agreement, the Company will pay a monthly fee of $5,000
(plus approved expenditures and applicable taxes) and will grant 150,000 stock
options under the Company's shareholder approved stock option plan (the
"Options"). The Options are exercisable at a price of $0.50 per share, will vest
in quarterly increments, and will be exercisable until the earlier of three
years from the date of grant and 90 days following termination of the Services
Agreement.


The Services Agreement and the grant of the Options to Skyblue are both subject
to the approval of the TSX Venture Exchange.


About Ceiba Energy

Ceiba Energy provides specialized services to the energy sector, specifically to
companies involved in the exploration, extraction and production of oil and
natural gas in Western Canada. Ceiba Energy develops and constructs facilities
in proximity to its customers to provide treatment of crude oil emulsion,
terminalling, storage and marketing of oil and disposal of production water.


Reader Advisory

This press release contains forward-looking statements and information that are
based on the beliefs of management and reflect the Company's current
expectations. When used in this press release, the words "estimate", "project",
"belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should"
and the negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and information.
The forward-looking statements and information in this press release include
information based on previously announced financings. Such statements and
information reflect the current view of the Company with respect to risks and
uncertainties that may cause actual results to differ materially from those
contemplated in those forward-looking statements and information.


By their nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results, performance
or achievements, or other future events, to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that statements are
made and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other circumstances
should change. Investors are cautioned against attributing undue certainty to
forward-looking statements.


The Company cautions that the foregoing list of material factors is not
exhaustive. When relying on Ceiba Energy's forward-looking statements and
information to make decisions, investors and others should carefully consider
the foregoing factors and other uncertainties and potential events. The Company
has also assumed that material factors will not cause any forward-looking
statements and information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject to change
and there can be no assurance that such assumptions will reflect the actual
outcome of such items or factors.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


Ceiba Energy Services Inc.

Ian Simister, President

Shankar Nandiwada, Chief Financial Officer

Please visit Ceiba Energy's website at: www.ceibaenergy.com

FOR FURTHER INFORMATION PLEASE CONTACT: 
Ceiba Energy Services Inc.
Todd Hanas
Investor Relations
1-866-869-8072
thanas@ceibaenergy.com


Ceiba Energy Services Inc.
Brian Petersen
Managing Director, Capital Markets
(403) 262-2783
bpetersen@ceibaenergy.com
www.ceibaenergy.com

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