CALGARY, Alberta and DENVER, May 9 /CNW/ -- Storm Cat
Energy Corporation (Amex: SCU; TSX.V: SME) today announced the appointment of
Jon Whitney of Colorado Springs, Colorado, and David Wight of Anchorage,
Alaska to its Board of Directors effective immediately. Both of these
individuals have long successful careers in the oil and gas industry. These
appointments fill a vacancy left on the Board by a recent resignation and add
one additional Director, increasing the Board to seven Directors. Mr. Whitney
will join the Audit Committee replacing Mike O'Byrne, and Mr. Wight will be
joining the Compensation Committee filling an existing vacancy.
Jon Whitney
Jon Whitney began his employment with Colorado Interstate Gas Company
(CIG), a natural gas transmission company, on October 1, 1968 as an accountant
and was promoted to increasingly important positions within the company. In
1973, Mr. Whitney was promoted to Vice President, Regulatory Affairs and
Controller and was subsequently promoted to Senior Vice President and then
Executive Vice President, with the additional responsibilities of
Administration, Marketing, Engineering and Operations. From 1990 until a
merger with the El Paso Corporation in 2001, Mr. Whitney was President and
Chief Executive Officer of CIG, during which time CIG was ranked by several
outside entities as one of the top pipeline companies in the U.S. Mr. Whitney
ultimately held various officer positions with 15 different companies within
the CIG corporate family and also has held committee positions with the
Interstate Natural Gas Association of America and the American Gas
Association. Mr. Whitney also has held or holds directorships with several
outside companies and community organizations.
Mr. Whitney has a Business degree from Colorado State University in Fort
Collins and, prior to his employment with Colorado Interstate Gas Company, was
a Certified Public Accountant in private practice. Mr. Whitney is currently a
member of Peak Energy Ventures, a natural gas consulting company.
David Wight
David Wight is the immediate past President and CEO for Alyeska Pipeline
Service Company and retired January 1, 2006 from BP after 41 years. Prior to
joining Alyeska, Mr. Wight served as President of BP Amoco Energy Company of
Trinidad and Tobago for eight years.
Mr. Wight graduated from Texas Tech University with a degree in Petroleum
Engineering in 1964 and went to work for Amoco Production Company in Texas as
a petroleum engineer. His Amoco career involved him in activities in Texas,
Kansas Oklahoma, Colorado, Utah, Alaska and Illinois where he developed
engineering, operation, production, procurement and management experience.
His engineering and operations experience includes extensive secondary
recovery activity in Texas and the Rockies as well as gas activities from
Kansas through the Rockies. The gas activities included conventional gas
development, tight gas and coalbed methane. He then moved to Egypt as
Managing Director of GUPCO, a joint E&P venture with the Government of Egypt.
As President of Amoco Trinidad, an Exploration and Production Company, Mr.
Wight led the establishment of the first Greenfield liquefied natural gas
plant in Trinidad, the second LNG plant in the Western Hemisphere. He also
led the start of a two train LNG plant expansion as Associate President and
Chairman of BP Energy Company of T&T.
Mr. Wight is a member of the following Boards and Associations: Success by
6 Board, the University of Alaska Anchorage College of Fellows, the University
of Alaska Anchorage Board of Advisors, Trustee of the Nature Conservancy of
Alaska, Commonwealth North Board. He is a member of the Petroleum Engineering
Advisory Board, Texas Tech University, a member of the Providence Alaska
Hospital Region Board, a member of the Alaskan Command Civilian Advisory
Board. Upon retirement he resigned board positions with the Alaska Oil and
Gas Association, the API, and the Association of Oil Pipelines.
Scott Zimmerman, Storm Cat President and Chief Executive Officer said:
"Jon and David's experience, not only in the energy industry, but also in the
building and operation of successful businesses, will provide additional
strength to Storm Cat at a time when we are rapidly expanding our operations
while executing on our growth strategies. Their proven leadership, experience
and energy industry savvy make them ideal additions to Storm Cat's Board."
Stock Options
The Company granted to Mr. Whitney and Mr. Wight, five-year options under
its Amended & Restated Share Option Plan to purchase up to 100,000 Common
shares of the Company at an exercise price of C $2.94 per share.
The Company also granted stock options to its Officers and Directors to
purchase up to an aggregate of 800,000 Common shares of the Company
exercisable for a period of five years ending on March 9, 2011 at an exercise
price of C $3.00 per share.
About Storm Cat Energy
Storm Cat Energy is an independent oil and gas company focused on the
pursuit, exploration and development of large unconventional gas reserves from
fractured shales, coal beds and tight sand formations. The Company has
producing properties in Wyoming's Powder River Basin, exploitation and
development acreage in Canada and Alaska, and high-risk, high-reward
exploration acreage in Mongolia. The Company's shares trade on the American
Stock Exchange under the symbol "SCU" and in Canada on the TSX Venture
Exchange under the symbol "SME."
By Order of the Board of Directors
Storm Cat Energy Corporation
J. Scott Zimmerman
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
