Appointments Follow Name Change and Recent Acquisition IncreasingCompany's Key Acreage Position in the Niobrara Shale Formation Armada Oil, Inc. (OTCBB: AOIL), an emerging independent oil and gascompany, today announced that it has appointed international oiland gas executive, Kenneth T. Hern, former president of TexacoSaudi and finance industry veteran Will E.D. Matthews to its Boardof Directors, effective immediately. "Ken's global executive leadership roles with Texaco, combined withhis experience advising early-stage public companies, uniquelyposition him to counsel Armada Oil at this pivotal time in ourdevelopment," said James J. |
Cerna, President and CEO of Armada Oil,Inc. "Correspondingly, Will's nearly two decades in investmentbanking, private equity and hedge funds in U.S., Canadian and Asianmarkets, will help facilitate growth following our recentacquisition of Armada Oil, Inc., enhancing our portfolio with anunprecedented 25,000+ acres of prime acreage in the Niobraraformations in Carbon Country, Wyoming." Mr. Hern joins Armada Oil succeeding a 25-year-career withindependent oil giant Texaco, now part of Chevron, themultinational energy corporation, where he served as President ofTexaco Saudi, Inc., between 1981-1984, as Vice Chairman andManaging Director of Texaco Nigeria Limited, from 1984 through 1989and as President of Texaco Brazil from 1989 through 1993. He also serves on the Board of Directors of Mesa Energy Holdings,Inc., a publicly traded oil and gas exploration and productioncompany, and Flotek Industries, Inc., a supplier of drilling andproduction related products and services to the energy and miningindustries.
He was previously Chairman of the Board and CEO of NovaBiosource Fuels, Inc. Mr. Hern earned a Bachelor of Arts in Chemistry from Austin Collegeand a Master of Science in Organic Chemistry from North Texas StateUniversity. Mr.
Hern joins the Board along with Will E.D. Matthews, whocurrently serves as Principal of Macritchie Metals Pte Ltd inSingapore, a mining boutique focused on acquiring, operating andfinancing minerals projects as well as providing capital raisingservices. Previously, Mr. Matthews held the position of Managing Director atGS Investment Strategies from 2007-2009, Aramanth Advisors LLC from2003-2006 and Principal at Polar Equity Capital, LLC from2002-2003.
He also served as Vice President, Mergers &Strategic Advisory Group with Goldman, Sachs & Co. from1999-2002; Vice President, Private Equity at BMO Nesbitt BurnsEquity Partners, Inc. from 1996-1999 and as an associate with UBSSecurities, Inc. from 1989-1992. He received a Master of BusinessAdministration at the University of Western Ohio, Richard IveySchool of Business and a Bachelor of Science in InternationalBusiness and Finance from New York University's Stern School ofBusiness.
About Armada Oil, Inc. ( ) Armada Oil, Inc. is an emerging independent oil and gas company,exploring, developing, producing, and marketing crude oil andnatural gas from various known prolific and productive geologicalformations. It holds interests in and around the Laramie and HannaBasins in Southern Wyoming that includes more than 25,000 acres inthe Niobrara formation and a footprint in the Eagle Ford shale playin Texas.
To date, Armada Oil, Inc. has acquired 1,280 acres,engineering data, 2D seismic and has an option to purchase anadditional 23,700+ acres. Legal Notice Regarding Forward-Looking Statements Statements in this release that are not historical facts are"forward-looking statements" subject to risks/uncertainties. Suchstatements are based on current facts/analyses and otherinformation that are based on forecasts of results, estimates ofamounts not yet determined, and assumptions of management.
Suchstatements are generally, but not always, identified by the words"expects," "plans," "anticipates," "believes," "intends,""estimates," and similar expressions or that events or conditions"will," "would," "may," "can," "could" or "should" occur.Information concerning reserve estimates may also be deemed to beforward looking statements, as it constitutes a prediction of whatmight be present when/if a project is actually developed. It is important to note that actual outcomes and results coulddiffer materially from those in such statements due to numerousfactors beyond the Company's control including misinterpretation ofdata, inaccurate estimates of reserves, uncertainty of therequirements demanded by governmental agencies, Company's abilityto raise financing, breach by third-parties, inability to retainemployees/consultants, competition for equipment, inability toobtain permits, delays in operations, the likelihood that nocommercial quantities of resources are found/recoverable, and ourability to participate in the exploration and completion ofdevelopment programs. Additional information on the Company's riskscan be found in the Company's periodic filings filed with the SECat www.sec.gov . This release does not constitute or form a part of any offer orsolicitation to purchase or subscribe for securities in the UnitedStates.
The securities mentioned herein have not been, and will notbe, registered under the Securities Act of 1933, as amended. Theymay not be offered or sold in the United States except pursuant toan exemption from the registration requirements of the SecuritiesAct. Company undertakes no obligation to publicly release theresults of any revisions to these statements that may be made toreflect the events or circumstances after the date hereof or toreflect the occurrence of unanticipated events. Media Contact: Jerry Schranz Beckerman 201-465-8020 firstname.lastname@example.org.
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