Lilis Energy's Board of Directors Announces New Executive Management Appointments
April 25 2014 - 6:00AM
The Board of Directors of Lilis Energy, Inc. (Nasdaq:LLEX), an oil
and gas exploration and production company focused on development
in the Wattenberg Field and surrounding areas of the
Denver-Julesburg (DJ) Basin, announced that it has appointed Nuno
Brandolini to the position of Chairman of the Board and Robert
(Bob) A. Bell to the position of President and Chief Operating
Officer. Abraham (Avi) Mirman advanced from President to Chief
Executive Officer, and A. Bradley Gabbard will continue in his
current role as the Company's Chief Financial Officer. W. Phillip
Marcum, who served as Chairman and CEO starting in November of
2012, has voluntarily resigned to pursue other interests.
"Nuno's strengths in corporate finance and M&A, and industry
board leadership, combined with Bob's extensive operations
expertise in oil and gas exploration and development, including
experience in the Wattenberg Field specifically, make this
leadership transition a natural," said Mr. Mirman.
Messrs. Brandolini and Bell both joined Lilis Energy's Board of
Directors in February of 2014. Mr. Brandolini is a general partner
of Scorpion Capital Partners, L.P., a private equity firm. Prior to
forming Scorpion Capital and its predecessor firm, Scorpion
Holding, Inc., in 1995, Mr. Brandolini served as managing director
of Rosecliff, Inc., a leveraged buyout fund co-founded by Mr.
Brandolini in 1993. Mr. Brandolini served previously as a vice
president in the investment banking department of Salomon Brothers,
Inc., and a principal with the Batheus Group and Logic Capital, two
venture capital firms. Mr. Brandolini began his career as an
investment banker with Lazard Freres & Co. Mr. Brandolini is a
director of Cheniere Energy, Inc. (NYSE MKT:LNG), a Houston-based
company primarily engaged in LNG related businesses. Mr. Brandolini
received a law degree from the University of Paris and an M.B.A.
from the Wharton School.
"I am honored to have been asked to chair Lilis Energy's Board
of Directors, and I look forward to working with the leadership
team to achieve its aggressive business plan as it embarks on its
most ambitious E&P program, to date," said Mr. Brandolini.
Robert A. (Bob) Bell, a 33-year oil and gas industry veteran,
has served as the President and CEO of Peak Operator LLC, a
privately held heavy oil operator in Southern California, since
October 2012. Mr. Bell's career began in 1981 in technical and
management roles with major oil companies including Exxon and
Unocal through 1996. Mr. Bell progressed into both public and
private, mid-cap and small-cap, oil and gas enterprise executive
roles including vice president-exploitation/co-president of Plains
Exploration & Production, president of Tri-Valley Oil &
Gas, and vice-president of operations/co-owner of Bonanza Creek Oil
& Gas. He also gained valuable experience in service sector
management roles including with Schlumberger. Mr. Bell's diverse
engineering, management and executive experience is
multi-disciplinary, global, spans large-scale developments to
mature, marginal developments, and light oil, heavy oil and natural
gas assets, and includes prior direct experience in the DJ Basin
and unconventional reservoirs such as the Monterey and Bakken
formations. Mr. Bell is a 1981 Petroleum & Natural Gas
Engineering graduate from Penn State University.
"When I joined the Lilis Energy Board, I was eager to help drive
towards year-over-year continuous improvement in their high-quality
oil and gas asset base, and to help build and retain a
high-performance team with a clear organizational direction. My
mission remains unchanged and, indeed, is now heightened as I
assume the reins of President and Chief Operating Officer," said
Mr. Bell. "I look forward to building on the Company's well-planned
horizontal E&P roadmap and to fully realizing the resource
potential in its de-risked Wattenberg acreage and beyond, to the
benefit of all stakeholders."
About Lilis Energy, Inc.
Lilis Energy, Inc. is a Denver-based independent oil and gas
exploration and production company that operates in the
Denver-Julesburg (DJ) Basin, where it holds approximately 125,000
gross, 110,000 net acres. Lilis Energy's near-term E&P focus is
to grow reserves and production in its Wattenberg Field acreage
targeting the Niobrara benches and Codell Sandstone. For more
information, please contact MDC Group: Investors - (414) 351-9758,
Media - (747) 222-7012, or visit www.lilisenergy.com.
Forward-Looking Statements
This press release may include or incorporate by reference
"forward-looking statements" as defined by the SEC, including
statements, without limitation, regarding Lilis Energy's
expectations, beliefs, intentions or strategies regarding the
future. Such forward-looking statements relate to, among other
things (1) the development of the Company's assets; (2) stakeholder
returns; and (3) development of the Company's management
team. These statements are qualified by important factors that
could cause Lilis Energy's actual results to differ materially from
those reflected by the forward-looking statements. Such factors
include but are not limited to: (1) Lilis Energy's ability to
finance its continued exploration and drilling operations; (2)
availability of qualified personnel; and (3) the general risks
associated with oil and gas exploration and development, including
those risks and factors described from time to time in Lilis
Energy's reports and registration statements filed with the
SEC.
Contact: |
|
MDC GROUP |
|
Investor Relations: |
Media Relations: |
David Castaneda |
Susan Roush |
414.351.9758 |
747.222.7012 |
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