HOUSTON, Aug. 4, 2009 (GLOBE NEWSWIRE) -- Holloman Energy Corporation (OTCBB:HENC) ("the Company") announces the appointments of oil industry executive Keith Macdonald to its Board of Directors, and Robert Wesolek as Chief Financial Officer.
"We are pleased that Keith has agreed to join our Board," stated Mark Stevenson, Holloman CEO. "I think we will look back and say this was one of the key turning points in our company. Keith brings a wealth of experience building oil companies with international focus. His addition to the Board will add perspective and depth. I expect he will be instrumental in our efforts to become a meaningful oil producer."
"We are also pleased that Bob has agreed to undertake the role as Chief Financial Officer," continued Stevenson. "He brings a unique blend of business acumen, regulatory knowledge and structuring skills we require to respond to the challenges of our corporate growth."
Keith Macdonald has over 30 years experience in the junior oil and gas sector, both internationally and domestically in Canada and the United States. He has been President of Bamako Investment Management Ltd., a private holding and financial consulting company since 1994. He currently is Chairman and director of Cirrus Energy Corporation, an internationally focused oil and gas company trading publicly in Canada on the TSXV exchange, and Chairman and director of Drakkar Energy Ltd, a private in situ oil sands company. In addition, he currently serves on the Board of Directors of other Canadian publicly traded companies including Breaker Energy Ltd. (TSX), True Energy Trust (TSX), Rocky Mountain Dealerships Inc. (TSX), Cordy Oilfield Services Inc. (TSXV) and Stratabound Minerals Ltd. (TSXV). He was a director of Profound Energy Inc. (TSX) which was sold in July 2009. Mr. Macdonald was founder, President and Director of New Cache Petroleums from 1987 until its amalgamation in 1994 and thereafter as Chief Financial Officer and Director until its sale in 1999. With these and prior directorships he has gained extensive public experience in corporate strategy, governance, financial, audit and reserves oversight and compensation matters.
Mr. Macdonald is a Director and past Chairman of the Small Explorers and Producers of Canada (SEPAC). He is a past member of the Alberta Utilities and Energy Advisory Board and director of the Petroleum Communication Foundation in Canada. He earned a Chartered Accountant designation in 1980 and is currently a member of both the Canadian and Alberta Institutes of Chartered Accountants.
Bob Wesolek, CPA has more than 30 years senior executive experience in both public accounting and private industry. Since leaving his role as senior practice manager with Arthur Andersen & Co. in 1988, Mr. Wesolek has acted as senior financial officer for five corporations including Citidel Software Systems, Sharp Technology Inc. and House of Brussels Chocolates. He has also provided financial consulting services to Holloman Energy Corporation since January 2008. Wesolek's background provides wide-ranging public experience with a well-developed focus on executive financial management, accounting, regulatory compliance, internal controls and information architecture.
About Holloman Energy
Holloman Energy Corporation. is an emerging international exploration, and development independent. The Company currently holds interests, varying between 66.66% and 100%, in seven oil and gas permits awarded by the Australian government. These permits encompass in excess of 1.7 million acres in the Cooper, Gippsland and Barrow basins.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which the Company has little or no control. The Company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.
ON BEHALF OF THE BOARD OF DIRECTORS Holloman Energy Corporation http://www.hollomanenergy.com