Business
Storm Cat Energy Provides Corporate Update
Storm Cat Energy Provides Corporate Update.
About this update from Sama Resources Inc.
[{"type":"text","content":"\n\n\n\nDENVER and CALGARY, Alberta, March 12 /CNW/ -- Storm Cat Energy\nCorporation (Amex: SCU; TSX: SME) today provided a corporate update.\n\n\nAs announced on Friday, March 9, 2007, Storm Cat Energy President & CEO\nScott Zimmerman is taking administrative leave from the Company for personal\nreasons. Mr. Zimmerman's leave is not related to any operational or financial\nissues with the Company nor the result of a disagreement with the Board of\nDirectors over the strategic direction of the Company. In his place, Storm\nCat Energy's Board of Directors has appointed current Company Chief Operating\nOfficer Keith Knapstad as acting President and Chief Executive Officer.\n\n\nMr. Knapstad, who joined Storm Cat Energy in April of 2005, has a broad\nrange of experience in unconventional resources and natural gas. Prior to\njoining Storm Cat Energy Corporation, Mr. Knapstad most recently served as\nManager of the Powder River Basin assets for J. M. Huber Corporation, a\nprivately held corporation with extensive unconventional resource holdings.\nPrior to Huber, he worked for Marathon Oil Company/Pennaco Energy in the Rocky\nMountain region managing a multi-disciplined team responsible for engineering\nand development of various Rocky Mountain producing areas, especially the\ndevelopment of Marathon's coal bed natural gas prospects.\n\n\nActing President and CEO Keith Knapstad commented: "I look forward to\nworking with the Board of Directors and the entire management team to keep\nStorm Cat moving forward. The Board and management remain fully supportive of\nthe $31 million Series B financing which is subject to a shareholder vote\nlater this month. With the proceeds from this offering we will be able to\ncontinue our aggressive development in the Powder River Basin, move forward in\nthe Fayetteville shale and continue our work in Canada. Our objective has\nalways been to add shareholder value by growing the Company through the drill\nbit in prospects where we can apply our technical expertise. A successful\nvote on the Series B financing is a critical step in reaching this objective."\n\n\nFor further shareholder inquiries please contact Storm Cat Energy\nInvestor Relations at 303-991-5070 or at [email protected].\n\n\nAbout Storm Cat Energy Corporation\n\n\nStorm Cat Energy is an independent oil and gas compan...