SOURCE: ReoStar Energy Corporation

October 08, 2007 08:30 ET

ReoStar Energy Appoints Joe Bill Bennett as Chief Operating Officer and Director

FORT WORTH, TX--(Marketwire - October 8, 2007) - ReoStar Energy Corporation (OTCBB: REOS) today announced the appointment of Joe Bill Bennett as Chief Operating Officer and Director of the Company. Mr. Bennett has been involved in the oil industry as an independent oil and gas operator in North Texas for the past 40 years and is experienced in developing exploration projects, drilling and completing wells, and managing all phases of operations.

Previously Mr. Bennett served in key management positions of various oil and gas companies, where he directed the development of exploration projects and operations of properties. Mr. Bennett also served on the board of directors of Matrix Energy Services Corporation (formerly Power Exploration), a publicly traded company involved in the re-development of partially depleted oil fields. Mr. Bennett has been the president of Rife Energy Operating since April 2002, where he is engaged in developing the technologies and exploitation techniques related to the oil window of the Barnett Shale. Prior to Rife Oil he served as President and CEO of Bennett Resources, Inc. the family business, where he directed the development of exploration projects in Texas, Oklahoma, Kansas, Illinois, Kentucky and Tennessee. Mr. Bennett attended the University of Texas at Austin, where he studied petroleum engineering.

Joe Bennett will replace Brett Bennett, who resigned his position on the board effective October 1, 2007 but will remain as the company's vice president of administration, the position he previously held.

Mark Zouvas, CEO of ReoStar, stated, "We are delighted to add Joe Bennett to our management team. He brings with him a wealth of knowledge and expertise that will be instrumental in developing ReoStar into a dominant independent oil and gas producer. Mr. Bennett's 40-plus years of exploration expertise primarily focused in North Texas will add significant strength to our team and the overall operations of the company."

About ReoStar Energy Corporation

ReoStar Energy Corporation (OTCBB: REOS), headquartered in Fort Worth, Texas, is an oil and gas company engaged in the acquisition, development and production of natural gas and oil properties with operations primarily focused on developmental resource plays and enhanced oil recovery projects. The Company has vertically integrated its assets to remove potential obstacles to growth, which will enable it to develop and produce assets without the risk, cost and time involved in traditional exploration.

The Company's strategy is to acquire an attractive portfolio of oil reserves for a low cost, which have a high ratio of possible, probable or proven undeveloped reserves. By converting these undeveloped reserves into proved producing reserves, the Company will continue to realize an increase in the overall value at low risk and cost.

The Company's assets include over 20,000 acres of mineral leasehold located in Texas (Barnett & Corsicana) and Arkansas (Fayetteville). ReoStar's assemblage of E&P assets allows for appreciable, unimpeded growth into the foreseeable future.

Additional information is located on the company's website www.reostarenergy.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.

Contact Information

  • Company Contacts:
    ReoStar Energy Corporation
    Mark Zouvas
    CEO
    817.989.7367

    For Investors
    Mark McPartland
    817.350.4760