South Texas Makes Two Additions to Executive Team
South Texas Oil Co. has expanded its executive team by adding two seasoned industry veterans: J. Scott Zimmerman, who will serve as President, and Bill Zeltwanger as Vice President.
Zimmerman, the former President and CEO of Storm Cat Energy holds a bachelor of science in petroleum engineering. Zimmerman has an extensive background in the oil and gas industry including working at Huber Corp. for 20 years where he was instrumental in the sale of Huber's Fruitland Coal CBM field for $100+ MM in profit. In 2002, he was Vice President of Operations and Engineering for Evergreen Resources and responsible for over 1,000+ producing wells and 800,000 prospective acres. Evergreen was acquired by Pioneer Resources for $2.1 billion in 2004. Zimmerman then founded Storm Cat Energy, which is currently traded on the American Stock Exchange and has approximately $140 million in assets.
Zeltwanger has been involved in the industry since 1973. He started in south Texas, and then later was involved in parts of the Austin Chalk and has been involved in several new Wilcox field discoveries in both Fayette and Lee counties in Texas. For the past six years he has been a partner in Leexus Oil and Gas, which recently sold its assets to South Texas Oil Co. for approximately $26 million. Zeltwanger has extensive knowledge of the field the company is currently drilling in and believes this will be a significant discovery for the area.
South Texas Oil Co.'s CEO, Murray Conradie, stated, "In their exceptional work histories, both Mr. Zimmerman and Mr. Zeltwanger have shown tremendous capabilities in the oil and gas industry. It is a pleasure to welcome them to the executive team and I have every confidence they will both be instrumental in our continued growth and success."
South Texas Oil Co. has mineral interests in 43,244 acres of oil and gas properties made up of approximately 20,000 acres in northeast Colorado, 18,000 acres in south central Texas and 5,244 acres in southwest Texas.
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