Business
Kodiak Oil & Gas Appoints Don McDonald to Its Board of Directors
Kodiak Oil & Gas Appoints Don McDonald to Its Board of Directors.
About this update from Ko Gold, Inc.
[{"type":"text","content":"\n\n\n\n\nDENVER, June 28 /CNW/ -- Kodiak Oil & Gas Corp.\n(Amex: KOG; TSX Venture: KOG), an oil and gas exploration and production\ncompany with assets in the Vermillion and Williston Basins, today announced\nthe appointment of Don McDonald to its Board of Directors, effective\nimmediately. McDonald will serve as Chairman of Kodiak's Audit Committee.\nWith a 20-year career as a senior financial officer in several regional\nand super regional financial institutions, McDonald specialized in energy\nlending with expertise in financial areas of accounting systems, controller-\nside stewardship, and debt structuring.\nMcDonald, a certified public accountant, is currently with Houston-based\nAlbrecht & Associates, a leading oil and gas divestiture firm. Prior to\njoining Albrecht in 2006, he helped establish the energy lending division for\nBank of the West in Denver. During his career he has held various positions,\nincluding Senior Lending Officer at Wells Fargo and Executive Vice President\nand Chief Credit Officer at First Community Bank. McDonald holds a Master of\nScience in Accounting from the University of Colorado and a Bachelor Business\nAdministration in Finance from the University of Iowa.\nMcDonald is active in the Council of Petroleum Accountants Society, the\nIndependent Petroleum Association of Mountain States, Energy Finance\nRoundtable, and the Colorado Society of Certified Public Accountants. In\nconjunction with his agreeing to serve on the Board of Directors, he was\ngranted 100,000 options to purchase Kodiak's common stock. The options vest\nin 12 months, are priced at US$4.03 and expire on June 27, 2011.\nKodiak also granted 185,000 options to purchase the Company's common stock\nto certain employees. These options vest in stages over 27 months, are priced\nat US$4.03, and expire on June 27, 2011.\n\nManagement Comment\nLynn Peterson, CEO and President of Kodiak Oil & Gas, said: \"Don's\nexperience in the energy industry along with his M&A expertise, numerous\nprofessional relationships and financial and reporting strengths are a\nvaluable addition to the Kodiak Board. Kodiak strives to maintain\nbest-in-practice internal controls that are essential to a public company's\nsuccess. We are pleased that Don has joined our Board, and we believe he is\nthe ideal individual to chair our Audit Committe...