Media Release

For Immediate Release

February 26, 2008

SMU profs awarded $600,000.00 to fuel energy sector

Drs. Sean Cleary (right) and Greg MacKinnon (left), both of whom are professors of Finance, Information Systems and Management Science, have been named Pengrowth Nova Scotia Professors in Petroleum Financial Management.

Drs. Sean Cleary and Greg MacKinnon, both of whom are professors of Finance, Information Systems and Management Science, have been named Pengrowth Nova Scotia Professors in Petroleum Financial Management.

They have received $600,000.00 to carry out their work from 1008 to 2011 as researchers on a variety of petroleum related projects. The funding for the professorship roles has been provided by the Province of Nova Scotia and Pengrowth Energy.

“We will be actively engaged in research issues identified by the funding partners,” says Dr. Cleary. “The research agenda will deal with issues related to the petroleum industry and is designed to hold relevance for income trusts, investors, and regulators.”

“This news is another indication of the ability of the Sobey School of Business to foster productive working relationships with the business community and government,” he says.

MacKinnon states, “We are honoured to have the backing and support of the Province and Pengrowth and excited by the possibilities for collaboration that will benefit the Sobey School of Business, Pengrowth and the Province of Nova Scotia.”

“This is a tremendous vote of confidence in the ability of the Sobey School of Business faculty to conduct research that is both cutting edge and relevant to the real world,” he adds.

Dr. J. Colin Dodds, President of Saint Mary's is thrilled that Drs. Cleary and MacKinnon have been tapped as Pengrowth Nova Scotia Professors in Petroleum Financial Management.

"With the professorship being held at Saint Mary's, it means that SMU will remain a leader in energy and financial research - areas we have been very active in over the last number of years,” says Dr. Dodds.

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For More Information:

Paul Fitzgerald
Public Affairs Officer
Saint Mary's University, Public Affairs
(902) 420.5514
E-mail: paul.fitzgerald@smu.ca
www.smu.ca