HOUSTON, May 7, 2013 /PRNewswire/ -- Liberty Energy Corp.
(OTCBB:LBYE) ("Liberty" or "the Company") is pleased to announce
the appointment of two industry veterans, Miles D Bender and
William T Jones, to the executive leadership team. Mr. Bender will
come on board as the new Chief Executive Officer, Director and
Chairman of the Board of Directors, while William T Jones will
serve as the Chief Operating Officer.
Mr. Bender has been involved in the energy business for
twenty-nine years. He was a founder, President and CEO of National
Energy Group, Inc. ("NEG"), which he took public and which he
helped grow from startup to over $300
million in proved reserve value, revenues of $54.7 million and cash flow of over $30 million. NEG owned working interests in more
than 1,000 wells of which the Company operated over 90% with just
under 100 employees. Market capitalization of NEG grew to nearly
$350 million. He led NEG with respect
to the identification, negotiation, completion, and integration of
some 16 acquisitions for NEG, over 25 during his career. He led NEG
in completing a $120 million
acquisition and raising $175 million
in 1996 and an additional $65 million
in 1997. During his career he raised over $350 million for various enterprises. NEG was
later sold in 2006 to publicly traded SandRidge Energy. He was
President of the Georgia Oil and Gas Association and a Director and
member of the Executive Committee of the Independent Petroleum
Association of America (IPAA).
Mr. Jones has been a licensed
Petroleum Engineer for 40 years. In 2004, he formed Redmon Oil
Company in Dallas, Texas. Prior to
that, he was Chief Operating Officer and Principal of Lynx
Production Company, Dallas, Texas,
from 1999 to 2004. Mr. Jones
joined National Energy Group, Inc. of Dallas, Texas, as Vice President, Production
and Engineering in 1994 and was promoted to Senior Vice President,
Operations in 1996. After receiving a B.S. degree in Petroleum
Engineering from Mississippi State
University in 1968, he began his career with Shell Oil
Company in Houston, Texas. In
1973, Mr. Jones joined Tenneco Oil
Company. After Tenneco Oil, Mr. Jones held various engineering and management
positions with several independent oil companies in Dallas and Ft.
Worth, Texas. From 1989 to 1991, he was Senior Petroleum
Engineer for Snyder Oil Company in Fort
Worth before moving to Abilene to become Chief Operating Officer of
Ard Drilling Company from 1992 until 1994.
"We joined Liberty as a platform for our 'under the radar'
acquisition strategy, targeting acquisitions within the exploration
& production and oilfield services sectors," stated CEO
Miles Bender.
Please contact David Sexton
directly at 1-832-708-3909 or email info@energy-liberty.com to
request additional information and ongoing updates.
ABOUT LIBERTY: Liberty Energy Corp. (OTCBB:LBYE) is an
Independent Oil and Gas Exploration and Production Company
dedicated to the sourcing and production of oil and gas onshore in
the United States. Headquartered
in Houston, Texas, the company has
signed agreements to acquire leases and royalties in Texas, covering several leases with extensive
potential for future development. Currently the company is
targeting mergers & acquisitions within the E & P or
oilfield services of the upstream oil & gas segment.
Certain statements in this press release are forward-looking and
involve a number of risks and uncertainties. Such
forward-looking statements are within the meaning of that term in
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended.
Liberty Energy Corp. bases these forward-looking statements
on current expectations and projections about future events, based
on information currently available. The forward-looking
statements contained in this press release may also include
statements relating to Liberty Energy Corp.'s anticipated financial
performance, business prospects, new developments, strategies and
similar matters. Liberty Energy Corp. disclaims any
obligation to update any of its forward-looking statements, except
as may be required by law.
ON BEHALF OF THE BOARD OF DIRECTORS,
Miles Bender, CEO &
Chairman
Liberty Energy Corp
Liberty Energy Corp.
Two Allen Center
Suite 1600
1200 Smith Street
Houston, TX 77002
Tel: 1-713-353-4700
Fax: 1-713-353-4701
Email: info@energy-liberty.com
Website: www.energy-liberty.com
Facebook: www.facebook.com/LibertyEnergyCorp
INVESTOR RELATIONS:
David Sexton
Tel: 1-832-708-3909
Email: info@energy-liberty.com
SOURCE Liberty Energy Corp.
