DENVER and CALGARY, Alberta, April 9 /CNW/ -- Storm Cat Energy
Corporation (Amex: SCU; TSX: SME) today announced that J. Scott Zimmerman, has
resigned effective today from his positions as President and Chief Executive
Officer of the Company to pursue new challenges and opportunities.
Mike Wozniak, Lead Director of the Storm Cat Energy Board, said, "Scott
Zimmerman's significant contributions to Storm Cat Energy over the past three
years helped provide the foundation for growth going forward. His vision and
ability to assemble the impressive portfolio of oil and gas assets were
instrumental in building Storm Cat to its current position. We appreciate all
that Scott has accomplished for Storm Cat and we wish him the best for the
Acting Storm Cat President and CEO, Keith J. Knapstad, said, "On behalf
of Storm Cat's employees, I too would like to wish Scott every success in his
future endeavors. At Storm Cat, the technical staff has employed a
collaborative team approach to developing and growing Storm Cat's asset base.
Importantly, the technical team that built Storm Cat remains in place,
allowing for a seamless transition as we continue working diligently to make
Storm Cat into a leading unconventional resource company. Storm Cat is well
positioned with great acreage, increasing cash flow and impactful projects
that we believe will enhance shareholder value."
The Company and its Board of Directors intend to name a permanent
President and Chief Executive Officer prior to the Company's annual general
meeting in June 2007.
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, and exploitation and
development acreage in Canada, Arkansas and Alaska. The Company's shares
trade on the American Stock Exchange under the symbol "SCU" and in Canada on
the Toronto Stock Exchange under the symbol "SME."
Storm Cat Energy Corporation
Acting President and Chief Executive Officer
/s/ Keith Knapstad
Paul Wiesner, Chief Financial Officer
This press release contains certain "forward-looking statements," as
defined in the United States Private Securities Litigation Reform Act of 1995,
and within the meaning of Canadian securities legislation, relating to the
proposed use of proceeds. Forward-looking statements are statements that are
not historical facts; they are generally, but not always, identified by the
words "expects," "plans," "anticipates," "believes," "intends," "estimates,"
"projects," "aims," "potential," "goal," "objective," "prospective," and
similar expressions, or that events or conditions "will," "would," "may,"
"can," "could" or "should" occur. Forward-looking statements are based on the
beliefs, estimates and opinions of Storm Cat's management on the date the
statements are made and they involve a number of risks and uncertainties.
Consequently, there can be no assurances that such statements will prove to be
accurate and actual results and future events could differ materially from
those anticipated in such statements. Storm Cat undertakes no obligation to
update these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause future
results to differ materially from those anticipated in these forward-looking
statements include, but a change in the use of proceeds, the volatility of
natural gas prices, the possibility that exploration efforts will not yield
economically recoverable quantities of gas, accidents and other risks
associated with gas exploration and development operations, the risk that the
Company will encounter unanticipated geological factors, the Company's need
for and ability to obtain additional financing, the possibility that the
Company may not be able to secure permitting and other governmental clearances
necessary to carry out the Company's exploration and development plans, and
the other risk factors discussed in greater detail in the Company's various
filings on SEDAR (www.sedar.com) with Canadian securities regulators and its
filings with the U.S. Securities and Exchange Commission, including the
Company's Form 10-K for the fiscal year ended December 31, 2006.
NO STOCK EXCHANGE HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY
ACCURACY OF THIS NEWS RELEASE.
For further information:
For further information: William Kent, Director, Investor Relations of
Storm Cat Energy Corporation, +1-303-991-5070