The Company announced that Mark E. Ferchau has been promoted to Executive Vice President. Previously, Mr. Ferchau served as Senior Vice President, Engineering and Operations and joined the Company in 2001 as the Vice President of Engineering and Operations.
The Company announced that Kenneth A. Jeffers has been promoted to Vice President of Geophysics. Mr. Jeffers joined the Company in 2002 as Senior Geophysicist. In addition to Mr. Jeffers' promotion, James Gregg Lea has been assigned to the position of Development Coordinator for the Company's on-going drilling and development activities, including activities on the Company's properties in South Louisiana, as well as in the Cotton Valley Trend of East Texas and Northwest Louisiana.
The Company also announced that Andrew W. Bagot has joined the Company as its Vice President of Geology effective July 15, 2004. Mr. Bagot joined the Company from Peoples Energy where he held the position of Senior Geologist and had a lead role in seeking and developing their properties in East Texas. Mr. Bagot has approximately twenty-five years of experience as an exploration and development geologist and began his career with The Superior Oil Company in 1979.
Commenting on the announcement, the Company's Vice Chairman and CEO, Walter G. "Gil" Goodrich commented, "Mark Ferchau has done an outstanding job developing and building our operations team and those efforts have not only allowed us to achieve the successes we have enjoyed over the past couple of years but, more importantly, strengthened our organization and positioned us to be able to achieve additional growth in the future. Ken Jeffers is playing an increasingly important role for us, as reflected in his promotion to Vice President of Geophysics. The Company is shooting two new thirty square-mile 3-D seismic surveys during 2004 and Ken will take the lead role in overseeing the shooting, processing and evaluation of these surveys, as well as the on- going evaluation and development efforts on our existing seismic database. With our significant increase in drilling and development activity planned for the balance of 2004 and into 2005, we have assigned Gregg Lea to the position of Development Coordinator and to assume the lead role in coordinating the exploration and development efforts between geology, engineering and land. We are also very pleased to announce that Andy Bagot will be joining our team. Andy brings us additional expertise in East Texas and particularly the Cotton Valley Trend. As Vice President of Geology, Andy will take the lead role in overseeing the development of our approximately 40,000 gross acres in the Trend, as well as head up our efforts to expand our presence in the play."
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