Able Energy appoints interim CFO

Wed. December 24, 2008; Posted: 06:27 AM

Dec 24, 2008 (Datamonitor via COMTEX) -- ABLE | Quote | Chart | News | PowerRating -- Able Energy, a US-based company engaged in the retail distribution of home heating oil, propane gas, kerosene and diesel fuels, has appointed John O'Brien as its interim CFO to replace Daniel Johnston, who is leaving the company for personal reasons.

Mr Johnston will continue to assist the company on a consulting basis as his time permits and as required by the company. Most recently, Mr O'Brien was managing director at Aegis Capital.

Additionally, Mr O'Brien has experience as the founder and CEO and CFO of MultiTechnics in Boston, which was a multi-unit retail store chain. Earlier in his career, he also served as CFO of Miles River Development, a real estate development company.

Gregory Frost, CEO and chairman of Able Energy, said: "We thank Mr Johnston for all his hard work and contributions to the company, particularly in the preparation of our most recent financial reports. We are pleased to have Mr O'Brien join us at this particularly challenging time and welcome his assistance in our effort to secure additional sources of capital to fund our operations and growth efforts."

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