GeoResources, Inc. Announces Changes in Board of Directors and Executive Management
17 Janeiro 2012 - 7:22PM
Business Wire
GeoResources, Inc., (NASDAQ: “GEOI”), today announced changes to
its Board of Directors and executive management team.
Robert J. Anderson has been appointed to serve as Chief
Operating Officer (Northern Division) in addition to his current
position as Executive Vice President – Engineering and
Acquisitions. Mr. Anderson has also been appointed as a director on
the Company’s Board of Directors. Mr. Anderson has been an officer
of GeoResources since 2007, where he has led the Company’s
engineering, M&A and acquisition and divestiture activities.
Mr. Anderson has also been directly involved in the Company’s
operations, strategic planning and capital markets activities. He
is a petroleum engineer with 25 years of diversified domestic and
international experience with both major and independent oil and
gas companies. He received a BS in petroleum engineering from the
University of Wyoming, and an MBA, Corporate Finance, from the
University of Denver.
In addition, Timothy D. Merrifield, has been appointed Executive
Vice President – Geology and Geophysics for GeoResources. Mr.
Merrifield has over 30 years of industry experience. He has been
employed by the Company since 2007 and most recently, served as
Vice President – Geology and Geophysics for the Company’s Southern
Division where he successfully led the Company’s exploration and
development activities. Along with his primary responsibilities,
Mr. Merrifield has also been instrumental in the success of the
Company’s acquisition activities. His prior experience includes
both domestic and international basins and he has also had
responsibility for reservoir engineering and project management. He
attended Texas Tech University.
MANAGEMENT COMMENTS
Frank A. Lodzinski, President and CEO of GeoResources, Inc.
commented, “I am pleased to announce the well-deserved promotions
of both Robert and Tim, both of whom have been instrumental in
GeoResources’ continuing success. Robert possesses a unique
skillset which includes a broad technical knowledge of our Company
and our industry, in addition to a thorough understanding of the
broader strategic and capital market-related facets of our
business. His combination of substantive engineering experience
with A&D, M&A and capital markets experience has
contributed significantly to our performance and growth. In
addition to his role in management, I am confident that these
skills and his sound judgment will make Robert a valuable addition
to our Board of Directors.”
“Tim has substantive detailed experience and capability in all
aspects of geology and geophysics, as well as related technical and
project management activities. He has consistently demonstrated his
ability to create value by generating exploration and development
opportunities associated with both asset acquisitions and new
projects. Tim’s efforts have led to our successful growth in both
the Eagle Ford and the Bakken over the last several years. I am
confident that Tim and his team will continue to lead us into
profitable acreage and asset acquisitions in the future.”
ABOUT GEORESOURCES, INC.
GeoResources, Inc. is an independent oil and gas company engaged
in the development and acquisition of oil and gas reserves through
an active and diversified program that includes the acquisition,
drilling and development of undeveloped leases, purchases of
reserves and exploration activities, currently focused in the
Southwest, Gulf Coast, and the Williston Basin. For more
information, visit our website at www.georesourcesinc.com.
CAUTIONARY NOTE REGARDING FORWARD
LOOKING STATEMENTS
This release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
which are subject to risks and uncertainties. The forward-looking
statements, which address GeoResources’ expected business and
financial performance, among other matters, contain words such as
“believe,” “expect,” “estimate,” “anticipate,” “optimistic,”
“intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,”
“likely,” “continue,” and similar expressions. Examples of
forward-looking statements, include, but are not limited to: (i)
changes in production volumes and prices and future production and
development costs, (ii) projections of capital expenditures,
revenues, income or loss, earnings or loss per share, capital
structure, and other financial items, (iii) statements of our plans
and objectives of our management or board of directors including
those relating to planned development of our oil and gas
properties, (iv) statements of future economic performance and (v)
statements of assumptions underlying such statements. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made.
GeoResources undertakes no obligation to update or revise any
forward-looking statements. A further description of these
uncertainties and other risks can be found in the GeoResources
Annual Report on Form 10-K for the year ended December 31, 2010 and
other reports filed by GeoResources with the U.S. Securities and
Exchange Commission.
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