PetroHunter Appoints New Chief Financial Officer

PetroHunter announced that J. Chris Steinhauser has been appointed as Chief Financial Officer of the company. Mr. Steinhauser brings over 27 years of experience in the energy and financial industries.

Mr. Steinhauser's oil and gas experience includes senior management positions with both private and public natural resource companies including Sharon Energy Ltd., Beta Oil and Gas, Inc. and GeoPetro Natural Resources Company. He began his financial career with Peat, Marwick, Mitchell & Co., a predecessor to Big Four accounting firm KPMG.

"We are fortunate to have secured the services of a financial professional like Chris with his industry background," stated Charles Crowell, PetroHunter CEO. "This industry is complex and has many moving parts. A veteran such as Chris is crucial in helping to provide guidance and structure intricate agreements in multiple jurisdictions. I am very pleased that he has agreed to come on board."

Since its founding in 2005, PetroHunter has pursued promising properties in the western United States and in Australia. Over the past year, the company has worked to refine its business plan in order to focus on core opportunities, and has negotiated several financial transactions and operational partnerships to provide funding to develop its current asset base. The company is testing oil and gas properties in the United States at the present time and plans to resume operations in Australia later in the year.

"This is an exciting opportunity," said Mr. Steinhauser. "Chuck (Crowell) has assembled a great team and the company is working on some promising projects. I look forward to bringing my financial experience to PetroHunter and helping to create the financial structure and controls that can best help the organization build value for our shareholders."