Gastar Exploration announced that Mr. Floyd R. Price has been recommended by the Nomination Committee of Gastar's Board of Directors to stand for election to the Board at the Annual General and Special Meeting of Shareholders to be held on June 3, 2010.
Mr. Price recently retired from Apache Corporation where he most recently served as Executive Vice President and Exploration Officer of Apache Corporation. He also held previous positions in Apache as Executive Vice President – Eurasia, Latin America and New Ventures, Executive Vice President – Canada, President of Apache Canada and as President of Apache's international exploration and production subsidiaries. Mr. Price is a member of the American Association of Petroleum Geologists and serves on the Board of Trustees for the American Geological Institute Foundation. Mr. Price holds a Bachelors of Arts degree in Geology from Rutgers College and a Masters of Science degree in Geology from the University of Michigan.
J. Russell Porter, Gastar's President and CEO, stated, "We are honored that Floyd Price has agreed to stand for election to Gastar's Board of Directors. His reputation, experience, industry knowledge and exploration background will strengthen and complement Gastar's existing Board of Directors. Obviously, a person of Mr. Price's stature within the industry has many choices, and we are very pleased that he has agreed to dedicate time and effort to Gastar's ongoing activities."
Mr. Price also commented, "I am pleased to stand for election to Gastar's Board of Directors. I have followed Gastar with interest for several years and believe that their asset base, balance sheet, strong technical focus and talented personnel are the necessary components for success in the E&P business. I am looking forward to working with the existing Board members as we guide Gastar's efforts and create shareholder value."
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