DENVER and CALGARY, Alberta, June 21 /CNW/ -- Storm Cat Energy
Corporation (Amex: SCU; TSX: SME) today announced that it is making senior
management changes focused on optimizing the Company's structure and
continuing to increase shareholder value. Joseph M. Brooker, who has been
working with the Company as an independent consultant since early 2007, has
been named Chief Executive Officer of Storm Cat Energy. Mr. Brooker will be
appointed to the Company's Board of Directors following the Company's Annual
General Meeting of Shareholders on June 21, 2007. He plans to assume his
duties as Chief Executive Officer by July 2, 2007.
Also announced was that Keith Knapstad, who has been serving as Acting
President and Chief Executive Officer of Storm Cat since March 9, 2007, has
been appointed President and Chief Operating Officer. Knapstad will continue
to have oversight and control of all aspects of the Company's United States
and Canadian operations.
"These senior management changes are a key component of our efforts to
continually strengthen and broaden our management capabilities," said Lead
Director Mike Wozniak. "Joe has a solid and impressive track record helping
grow energy companies into world-class organizations, while Keith has
unparalleled operational expertise. By combining their complementary
backgrounds and in-depth knowledge of the energy business, it will enable
Storm Cat to maximize its potential in its current assets and capitalize on
the Company's strengths in unconventional resource development."
Mr. Brooker is a petroleum engineer with nearly 20 years of experience in
the oil and gas business. He was most recently Vice President and General
Counsel of Medicine Bow Energy Corporation, a Denver-based private-equity-
backed exploration and production company with operations in the Rockies,
Mid-Continent and East Texas. Medicine Bow sold to El Paso Corporation in
2005 for $834 million. Prior to that, Mr. Brooker was Vice President of Land
and General Counsel of Shenandoah Energy Inc, a Denver-based private-equity-
backed exploration and production company with operations in the Uinta and
Raton Basins. Shenandoah sold to Questar Exploration and Production in 2001
for $406 million.
"Storm Cat is poised for solid growth, and I am excited to be joining the
team at such a pivotal point in the Company's development," said Mr. Brooker.
"Admired for its technical expertise and high quality assets, Storm Cat has
the ability to mature into a best-in-class exploration and production company.
I look forward to working closely with Keith to build upon the success the
Company has already achieved, while at the same time growing the business and
enhancing shareholder value."
Mr. Brooker received a B.S. in Petroleum Engineering from Marietta
College in 1982 and a J.D. from the University of Cincinnati College of Law in
1989. He is a member of the Society of Petroleum Engineers, Rocky Mountain
Association of Geologists, IPAA and numerous other trade organizations
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."
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 are not limited to 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 (http://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 OR 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