Rooster Energy Ltd.
TSX VENTURE : COQ

Rooster Energy Ltd.

September 01, 2015 19:00 ET

Rooster Energy Ltd. Announces the Appointment of an Alternate Director and New Chief Financial Officer

CALGARY, ALBERTA--(Marketwired - Sept. 1, 2015) - ROOSTER ENERGY LTD. (the "Company") (www.roosterenergyltd.com) (TSX VENTURE:COQ) announces the appointment of J. Munro M. Sutherland as an alternate Director and Gary L. Nuschler, Jr. as its new Chief Financial Officer. The appointments are effective September 1, 2015.

In conjunction with the new appointments, the Company also announces the resignation of Paul A. Crilly as a member of its Board of Directors and Steven M. Holder as its Chief Financial Officer. The resignations are effective August 31, 2015. Mr. Crilly served as an independent director and was a member of the Audit Committee and Corporate Governance Committee. Both Mr. Crilly and Mr. Holder resigned for personal reasons and their mutually agreed departures are unrelated. Also, there was no disagreement by either Mr. Crilly or Mr. Holder with the policies or practices of the Company.

Robert P. Murphy, President and Chief Executive Officer commented: "We appreciate the service of both Paul and Steve and wish each of them the best. On behalf of the Board and Rooster team, we want to especially thank Paul for his many years of service to the Company."

Mr. Murphy further commented that, "We are pleased to welcome Munro Sutherland as an independent director who has been appointed by the Board to replace Paul in the interim period between September 1, 2015 and our 2015 annual general meeting of shareholders in October. Munro has years of experience as a director and chief financial officer in both public and private oil and gas companies which should greatly benefit Rooster and its shareholders. In addition, we are pleased to announce that Gary Nuschler, Jr. has been promoted from his role as vice president of finance to Chief Financial Officer of the Company. Gary has been with us since 2013 and his intimate knowledge of the finances of the Company will enable a seamless transition in filling the role of Chief Financial Officer."

Mr. Sutherland has over 40 years of experience in accounting and finance, primarily with oil and gas exploration and production companies, and he has been a Chartered Accountant since 1978. For many years he was at various times an executive and non-executive director of Cairn Energy plc and Cairn Energy USA. He was also the finance director of Melrose Resources plc. Mr. Sutherland holds a BA from Heriot-Watt University in Edinburgh.

Mr. Nuschler has worked with Rooster Petroleum, LLC, since 2013. Prior to joining Rooster, he worked as a research analyst for several investment banks, including Jefferies Group, LLC, Sterne Agee Group, and Sanders Morris Harris. His experience includes equity research and corporate finance advisory services for exploration & production and oilfield service companies. Mr. Nuschler holds a BS from the University of New Orleans.

ABOUT ROOSTER ENERGY LTD.

Rooster Energy Ltd. is a Houston, Texas, based independent oil and natural gas exploration and production company focused on the development of resources in the shallow waters of the Gulf of Mexico and the delivery of well intervention services, including well plugging and abandonment, through its wholly owned subsidiary, Morrison Well Services, LLC. Our primary assets consist of interests in 14 federal leases, 9 state leases and 16 rigless plug and abandonment units of well intervention equipment. The Company is the operator of the majority of its leases and daily oil and gas production.

Investors are welcome to visit our website at www.roosterenergyltd.com or contact the following for all corporate updates and investor inquiries:

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.

Contact Information

  • Rooster Energy Ltd.
    Gary Nuschler, Jr.
    Chief Financial Officer
    16285 Park Ten Place, Suite 120
    Houston, Texas, USA 77084
    Telephone: (832) 463-0625