PostRock Announces Election of New Chairman
04 October 2010 - 10:00PM
PostRock Energy Corporation (Nasdaq:PSTR)
("PostRock" or the "Company") today announced that Duke R. Ligon
has been elected Chairman of the Board of Directors, succeeding
Gary M. Pittman. Mr. Pittman will remain on the Board as a
Director. Mr. Ligon has served as a Director of PostRock since its
formation in March 2010 and previously served on the Board of one
of PostRock's predecessor entities as Chairman and Director since
2006.
Mr. Ligon has more than 40 years of legal expertise in corporate
securities, litigation, governmental affairs and mergers and
acquisitions. He is an attorney and served as senior vice president
and general counsel of Devon Energy Corporation from January 1997
until he retired in February 2007. Since his retirement in 2007,
Mr. Ligon has been a strategic legal advisor to Love's Travel Stops
& Country Stores, Inc. and currently is the legal advisor at
Panhandle Oil and Gas. Prior to joining Devon, he practiced law for
12 years and last served as a partner at the law firm of Mayer,
Brown & Platt in New York City. In addition, he was Senior Vice
President and Managing Director for Investment Banking at Bankers
Trust Co. in New York City for 10 years. He is also on the Board of
Panhandle Oil and Gas, Chairman of the Board of Blue Knight Energy
Partners, Chairman of the Board of SteelPath MLP Funds, member of
the Board of SteelPath Energy Infrastructure Investment Company,
Chairman of the Board of Security State Bank, member of the Board
of Heritage Trust Company, and member of the Board and the Advisory
Committee of Pre-Paid Legal Services, Inc. Mr. Ligon received an
undergraduate degree in chemistry from Westminster College and a
law degree from the University of Texas School of Law.
David C. Lawler, President and CEO of PostRock commented, "We
are pleased to announce the election of Duke Ligon to Chairman of
the Board of Directors. Duke brings over 40 years of experience in
the energy industry and has served as a key member of the Board
since 2006. His selection is to help position the Company for
enhanced operational focus and long term growth and we look forward
to his continued leadership and dedication in his new role. We
would also like to thank Gary Pittman for his service as Chairman
and continued contribution as a Director."
PostRock Energy Corporation is engaged in the acquisition,
exploration, development, production and transportation of oil and
natural gas, primarily in the Cherokee Basin of Kansas and
Oklahoma. The Company owns and operates over 2,800 wells and
nearly 2,200 miles of gas gathering lines in the Basin. It
also owns 1,100 miles of interstate gas pipelines serving parts of
Oklahoma, Kansas and Missouri.
The PostRock Energy Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7221
Opinions, forecasts, projections or statements, other than
statements of historical fact, are forward-looking statements that
involve risks and uncertainties. The forward-looking statements
herein 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 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 and other risks are detailed in PostRock's filings with the
Securities and Exchange Commission, which can be found at
www.pstr.com or www.sec.gov. PostRock undertakes no obligation
to update or revise these forward-looking statements.
CONTACT: PostRock Energy Corporation
Jack Collins, Chief Financial Officer
(405) 702-7460
North Whipple, Manager, Corporate Development & Investor
Relations
(405) 702-7423
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