American Energy Development Corp. Announces Non Executive Board Appointment, Enhancing Its Expertise and Leadership
20 Dezembro 2011 - 11:00AM
American Energy Development Corp. (OTCBB:AEDC) hereafter "AED", is
pleased to announce it has appointed Kevin Goldrick to its board of
directors as a non-executive board member.
A veteran of the U.S. mining and Oil & Gas industry, Mr.
Goldrick brings over 34 years of both business and technical
expertise to AED, having started his career with Kerr McGee (now
part of Anadarko, Market Cap: $36B), as a mine geologist focusing
on the Powder River Basin in Wyoming, developing uranium and coal
assets, prior to his move into the petroleum industry.
Mr. Goldrick's initial focus in the Oil & Gas industry was
in the Rocky Mountains area, by serving as a consultant and senior
geologist for various exploration plays. As part of his growing
presence in the area, Mr. Goldrick acquired a geological science
company, which since his involvement to date, has been involved in
the drilling and geological assessment of over 500 wells.
In 1991, Mr. Goldrick formed an exploration and production
company, which acquired and developed 5 oilfields in the Big Horn
and Wind River basins in Wyoming, before selling his majority
interest in 2006. Following the sale of his company, Mr. Goldrick
continues to develop new exploration and development projects, and
is regarded by us as an expert in the Bakken shale play in North
Dakota, Niobrara shale formation in Wyoming and the Marcellus shale
play in Pennsylvania.
Mr. Goldrick holds a B.Sc in Earth Science from Chadron State
College, Nebraska, and is a member of the Wyoming Geological
Association, the Society of Petroleum Engineers and the American
Petroleum Institute.
Herold Ribsskog, President of American Energy Development Corp.,
said, "AED is excited to have a person of Kevin's stature join the
AED Board. We believe his experience and track record in developing
start-up companies and exploration plays is an important addition
to AED. His geological knowledge is an area where we believe AED
can really gain added value, in conjunction with the management
experience he brings."
About American Energy Development Corp.
American Energy Development Corp. is an independent US energy
company, committed to creating American energy independence through
the development of acreage in established oil and gas basins. Using
the latest geological, geophysical, and environmental technology,
the Company's goal is to locate, drill, and produce oil and gas in
the United States and secure regions. American Energy Development's
focus is on the development of Niagaran oil reefs in Michigan and
the underexplored onshore basins in the United Kingdom.
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that
could cause actual results to differ materially include, but are
not limited to, changes in the Company's business; competitive
factors in the market(s) in which the Company operates; risks
associated with oil and gas operations inside and outside the
United States; and other factors listed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is
based.
Cautionary Note to U.S. Investors - The United States
Securities and Exchange Commission permits oil and gas companies,
in their filings with the SEC, to disclose only reserves that
comply with the definitions presented at Rule 4-10(a) of Regulation
S-X. We use certain terms in this press release that the SEC's
guidelines strictly prohibit us from including in filings with the
SEC. Examples of such disclosures would be statements regarding
"probable," "possible," or "recoverable" reserves among others.
U.S. Investors are urged to consider closely the disclosure in our
Annual Report on Form 10-K and Form S-1, File No. 333-169014,
available from us at American Energy Development Corp., 1230 Avenue
of the Americas, 7th Floor, New York, NY 10020.
CONTACT: American Energy Development Corp.
Joel Felix, Chief Financial Officer
1230 Avenue of the Americas, 7th Floor
New York, NY 10020
Phone: (888) 542-7720
Fax: (917)-639-4000
Web: www.aed-corp.com
Email: ir@aed-corp.com
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