DENVER, Dec. 15, 2009 (GLOBE NEWSWIRE) -- 1st NRG Corporation (OTCBB:FNRC) provides an update on Operations and announces Kevin Norris as Chief Executive Officer.
Operations Update
The Company has begun marketing natural gas (800 MMBTUD) for Cedar Resources Corporation -- a CBM producer in the Powder River Basin. The service was previously provided by e2 Business Services.
New Chief Executive Officer
1st NRG Corporation announced today that Mr. Kevin Norris has accepted the position of Chief Executive Officer of the Company.
Mr. Norris has over 30 years of experience in the oil and gas industry. Most recently his activities have been focused in the Powder River Basin where he has been active in the drilling, operating, transportation and marketing of CBM gas. Mr. Norris founded and spent 15 years with e2 Business Services, Inc., a company which provided administration, marketing services and software solutions for producers in the industry. In 2006, Mr. Norris founded BlueCreek Energy and the company grew to own an interest in 78 coal bed methane producing wells, 42 of which were operated, with over 20BCF in 3P reserves.
Mr. Norris received a Bachelor of Science degree from Colorado State University and is a Past Chairman of the IPAMS Natural Gas Committee.
Management Comments
Dr. J. Greig, Chairman of the Board of Directors, said, "Mr. Norris's experience and qualifications will bring much needed expertise in operations and marketing which is key to our corporate growth. 1st NRG's strategy continues to focus on developing proprietary production coupled with product marketing. 1st NRG will initially focus on acquiring acreage in known coal bed methane and oil projects that have current production along with significant developmental potential. Mr. Norris has successfully operated coal bed methane fields and this along with his experience in gas marketing, scheduling and transportation makes him uniquely qualified to direct the day to day operations of 1st NRG."
About 1st NRG
1st NRG is a natural gas and oil exploration and production company headquartered in Ferndale, Washington. The focus of the Company is to acquire oil and gas assets with a focus on coal bed methane.
Forward-Looking Statement
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans," "feels," "anticipates" and certain of the other foregoing statements may be deemed "forward-looking statements." Although 1st NRG believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in production which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors. The Company's complete filings with the Securities and Exchange Commission are available at http://www.sec.gov.