Recovery Energy Announces New Executive Management Appointments
DENVER, Sept. 19, 2013 (GLOBE NEWSWIRE) -- Recovery Energy, Inc.
(Nasdaq:RECV), an independent oil and gas exploration and production company
with operations and assets in the Denver-Julesburg (DJ) Basin, announced that
it has appointed Mr. Avi Mirman to the position of President. Mr. A. Bradley
Gabbard was appointed as Chief Operating Officer and will also maintain his
position as Chief Financial Officer.
Mr. Mirman brings more than 20 years experience in the securities industry to
Recovery Energy. His primary career focus has been on mergers and
acquisitions, as well as advisory work and financings for public companies in
micro-cap and small-cap markets. Mr. Mirman recently served as Managing
Director of Investment Banking at T. R. Winston & Company. He graduated from
the State University of New York at Buffalo with a B.S. in Political Science.
Mr. Gabbard, an energy industry executive with nearly four decades of
comprehensive senior level management experience, joined Recovery Energy in
July 2011 as Chief Financial Officer, was appointed to the Board of Directors
in 2012, and also served as President of the Company during the period of
November 2012 until the appointment of Mr. Mirman.
"We welcome Avi and look forward to benefitting from his considerable
expertise in the financial arena. He is a great addition to the experienced
team of oil and gas industry veterans in our operations and technical staff,"
said Mr. W. Phillip Marcum Chief Executive Officer and Chairman of the
Company. "We have a solid inventory of both conventional and unconventional
locations throughout our 115,000 net acre leasehold position in the evolving
DJ Basin oil play, and are seeing progress toward development of further
unconventional locations targeting the Niobrara horizon, as well as the
Greenhorn, Codell and Permo-Penn horizons."
Mr. Mirman said, "I am excited to be on board and working with Phil, Brad and
the rest of Recovery Energy's proven team. My goals, both short and long term,
are to secure financing and work on accretive acquisitions to assist in
furthering the exploitation of our DJ Basin acreage position, including the
About Recovery Energy, Inc.
Recovery Energy, Inc. ("Recovery Energy") is a Denver-based independent oil
and gas exploration and production company that operates in the
Denver-Julesburg (DJ) Basin where it holds approximately 130,000 gross,
115,000 net acres.Recovery Energy's focus is to grow reserves and production
through a combination of acquisitions and conventional and unconventional
drilling activity, targeting the various oil-bearing formations that produce
in the DJ Basin.
This press release may include or incorporate by reference "forward-looking
statements" as defined by the SEC, including statements, without limitation,
regarding the Company's expectations, beliefs, intentions or strategies
regarding the future. Such forward-looking statements relate to, among other
things the Company's: (1) proposed exploration and drilling operations, (2)
expected production and revenue, and (3) estimates regarding the reserve
potential of its properties.These statements are qualified by important
factors that could cause the Company's actual results to differ materially
from those reflected by the forward-looking statements. Such factors include
but are not limited to: (1) the Company's ability to finance its continued
exploration and drilling operations, (2) positive confirmation of the
reserves, production and operating expenses associated with the Company's
properties; and (3) the general risks associated with oil and gas exploration
and development, including those risks and factors described from time to time
in the Company's reports and registration statements filed with the SEC.
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