PostRock Energy Corporation Announces Appointment of Chief Financial Officer and Chief Accounting Officer
16 March 2010 - 8:03AM
PostRock Energy Corp. (Nasdaq:PSTR) today announced the appointment
of Jack T. Collins as Chief Financial Officer and David J. Klvac as
Chief Accounting Officer effective March 26, 2010. Mr. Collins will
replace Eddie M. LeBlanc who has served as Chief Financial Officer
of PostRock and its predecessor entities since January 2009 and is
resigning to pursue another opportunity. Mr. Klvac is being
promoted to the role of Chief Accounting Officer from his current
role as PostRock's Corporate Controller.
David C. Lawler, President and CEO of PostRock said, "During his
tenure, Eddie accomplished his objectives of restructuring our
accounting and financial reporting departments and processes as
well as seeing our recombination through to completion. We thank
Eddie for his tremendous contribution and leadership during this
challenging period, and we wish him well on his future
endeavors."
"We are very pleased to promote Jack to the role of Chief
Financial Officer and David to Chief Accounting Officer. Jack has
emerged as a highly capable and trustworthy leader, playing a
critical role in our recombination and demonstrating the capacity
to lead complex financial negotiations and formulate sound
financial strategies. David has proven his capabilities
during our restatement and restructuring process and played a key
role in our regaining compliance with all public reporting
requirements in 2009. With these appointments, I am confident that
we have a solid team in place to grow our organization."
Mr. Collins has served as Executive Vice President
Finance/Corporate Development of PostRock and its predecessor
entities since January 2009, as Interim Chief Financial Officer
from August 2008 to January 2009, and as Executive Vice President
of Investor Relations from December 2007 to August 2008. Mr.
Collins has 14 years of oil and gas industry experience, having
previously worked for A.G. Edwards & Sons, Inc., a national,
full-service brokerage firm, from 1999 to 2007 as a Securities
Analyst responsible for the firm's coverage of the U.S. high yield
energy stock sector. In his prior roles at A.G. Edwards, he
assisted in coverage of the independent E&P and oilfield
service sectors of the energy industry. Mr. Collins holds a
bachelors degree in economics with a business emphasis from the
University of Colorado at Boulder.
Prior to joining PostRock's predecessor entities as Corporate
Controller in May 2009, Mr. Klvac served as a financial consultant
for Sirius Solutions, LLLP from October 2008 to May 2009, as Vice
President and Corporate Controller of Tronox Incorporated from
January 2007 to June 2008, and as Assistant Corporate Controller of
Smithfield Foods, Inc. from 2005 to 2007. He joined Smithfield as
Director of Financial Reporting in 2004 and prior to that, served
as Manager of External Financial Reporting for MidAmerican Energy
Holdings Company from 2002 to 2004. Mr. Klvac holds a
bachelors degree in accounting from the University of St. Thomas in
Houston.
About PostRock Energy Corp.
PostRock is a vertically integrated energy company that is the
largest producer of natural gas in the Cherokee Basin of southeast
Kansas and northeast Oklahoma with over 2,800 wells and nearly
2,200 miles of natural gas gathering pipelines in the
basin. The Company also owns and operates nearly 400 natural
gas and oil producing wells and undeveloped acreage in the
Appalachian Basin of the northeastern United States and more than
1,100 miles of interstate natural gas transmission pipelines in
Oklahoma, Kansas, and Missouri. For more information, visit
PostRock's website at www.pstr.com.
The PostRock Energy Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7221
Forward-Looking Statements
Opinions, forecasts, projections or statements, other than
statements of historical fact, are forward-looking statements that
involve risks and uncertainties. Forward-looking statements in
this announcement are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of
1995. Although PostRock believes that the expectations
reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to be
correct. Actual results may differ materially due to a variety
of factors, some of which may not be foreseen by
PostRock. These risks and other risks are detailed in
PostRock's filings with the Securities and Exchange Commission,
including risk factors listed in PostRock's Registration Statement
on Form S-4 and other filings with the SEC. You can find
PostRock's filings with the SEC at www.pstr.com or
www.sec.gov. By making these forward-looking statements,
PostRock undertakes no obligation to update these statements for
revisions or changes after the date of this release.
CONTACT: PostRock Energy Corp.
Jack Collins, EVP Finance/Corporate Development
(405) 702-7460
www.pstr.com
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