Sonoran Energy's Chairman and Chief Executive Officer, Peter Rosenthal commented on the promotion, "Frank's appointment as President is recognition for his strong leadership and hard work over the past six months restructuring Sonoran Energy's financial position, and assisting the management team in developing its North American asset development strategy. Frank is highly respected in the industry, and the Company will now be able to benefit even more from his energy banking experience, his financial expertise and his extensive industry connections."
Commenting on his new appointment, Frank Smith said, "Sonoran Energy is a well positioned business with a good foundation. I am delighted to accept the challenge to build a team to efficiently integrate and manage Finance, Business Development and Land/Legal into a value creation business within Sonoran Energy, and through this newly defined business unit significantly contribute to enhanced shareholder value. This new and expanded role is an opportunity for me to bring my 30 plus years of banking and energy sector experience to an emerging and growing E&P company. Sonoran Energy has a strong portfolio of assets in the U.S. and its strategy to grow the Company through acquisitions, and steady business development is a natural convergence of my skills and expertise."
Sonoran Energy has also appointed Josephie Dean as the Company's new Vice President Business Development. Dean comes to Sonoran Energy with a broad technical knowledge of the E&P industry and professional people and networking skills. She currently serves on the Executive Board of the Petroleum Engineer's Club of Dallas as the 2006 President, and The North Texas Energy Council. She is a member of TIPRO, IPAA, ADAM and AAPG. Dean has a number of patents in process on inventions she has created from structural applications to buildings to nutritional supplements to materials use.
Rosenthal summarized, "We have now organized ourselves around the two value creation business units within the Company, with Frank leading this newly defined and exciting Business Unit and Executive VP of Operations, Bill McFie, leading our Operations Business Unit - focusing on maximizing value from our existing as well as future assets."
Smith, 60, has more than 30 years of experience in the oil and gas industry, both in a senior banking capacity, as a well as working senior executive for a number of energy companies.
Sonoran Energy is a U.S.-based independent oil and gas company that explores, develops, and enhances the performance of high value oil and gas opportunities.
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