OKLAHOMA CITY, Feb. 10, 2015 (GLOBE NEWSWIRE) -- PostRock Energy Corporation (Nasdaq:PSTR) ("PostRock") today announced the appointment of a new director. Simultaneously, it announced that it had engaged Evercore Group L.L.C. to help explore strategic alternatives.
Alexander P. Lynch, a partner of White Deer Energy, was added to the Board on February 6th, increasing the Board to seven members. Mr. Lynch has nearly 40 years of experience in finance and investment banking. Prior to joining White Deer, he served as Global Chairman - Investment Banking for J.P. Morgan. He has served on the boards of a number of NYSE-listed public companies, including Patina Oil & Gas Corporation and Range Resources Corporation.
Given the challenges created by current oil and gas prices, the Company decided it was prudent to enlist an outside advisor to assist the Board in evaluating strategic alternatives.
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 the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance such expectations will prove correct. Actual results may differ materially due to a variety of factors, some of which may not be foreseen. These risks and other risks are detailed in the Company's filings with the Securities and Exchange Commission, including risk factors listed in the Annual Report on Form 10-K and other filings. The Company's SEC filings may be found at www.pstr.com or www.sec.gov. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes.
About the Company
PostRock Energy Corporation is engaged in the development, production and gathering of crude oil and natural gas, primarily focused in the Cherokee Basin of southeast Kansas and northeast Oklahoma, and in central Oklahoma. The Company owns and operates over 3,000 wells and maintains nearly 2,200 miles of gas gathering lines primarily in the Cherokee Basin.