Compton Names Two New Directors to Board
Compton has announced the appointment of two new directors to the Board of Directors of the company, Mr. David Fitzpatrick and Mr. Warren Shimmerlik, who were appointed to the Board effective March 16, 2009 and February 26, 2009, respectively. Messrs. Fitzpatrick and Shimmerlik will also be nominees for election as Directors at the upcoming Annual and Special Meeting being held May 11, 2009.
David Fitzpatrick brings a wealth of experience to Compton in the investment and petroleum sector along with a strong business track record. He is an independent businessman and prior to that, he was President, CEO, and a Director of Shiningbank Energy Ltd. from 1996 to 2007 (acquired by PrimeWest Energy). During his leadership, Shiningbank grew nine fold to 25,000 boe/d, providing a 28% per annum compound return to shareholders over the 11 year history of the company. During his career, Mr. Fitzpatrick held senior positions in several petroleum companies.
Mr. Fitzpatrick attended Queen's University, where he obtained a Bachelor of Science in Geological Engineering, as well as completing the Queen's Executive Program. In 2008, he attended the Chartered Director Program at McMaster University to complement the experience he has gained acting on several public company boards. Mr. Fitzpatrick is a member of the Association of Petroleum Engineers, Geologists and Geophysicists of Alberta.
Warren Shimmerlik is an independent businessman with extensive experience in the financial markets, working in equity financing, investment analysis and market activities. He currently acts as consultant to Centennial Energy Partners, L.L.C., a major shareholder of the Company. Previously, he was a Principal of COSCO Capital Management LLC, a private equity intermediary, where he was responsible for Canadian oil and gas financings. He spent nearly two decades as a highly regarded Wall Street investment analyst involved with the energy sector in senior positions with Merrill Lynch & Company, L. F. Rothschild Unterberg Towbin and County NatWest Securities USA and was voted by money managers to Institutional Investor Magazine's "All American Research Team" in domestic oils seven times. In addition, he ran his own company, Shimmerlik Corporate Communications, Inc., focused on investor relations strategies for public energy companies.
Mr. Shimmerlik graduated from Lehigh University with a BSBA in Accounting, followed by a Masters of Finance from Columbia University Business School. He is a member of a number of associations, including the CFA Institute, the New York Society of Securities Analysts and the National Association of Petroleum Investment Analysts.
Compton also wishes to advise that Mr. Ernie Sapieha has resigned from the Board after supporting the company through the management transition period.
In addition, Messrs. John Preston and John Thomson have decided not to stand for re-election at this year's Annual and Special Meeting in May.
"On behalf of the Company and the Board, I would like to welcome Mr. Fitzpatrick and Mr. Shimmerlik to Compton. Both of these gentlemen provide additional strength and depth to the Board of Directors," said Mel F. Belich, Q.C., Chairman. "They bring a wealth of experience to the company which will be valuable to Compton's next phase of development, and we look forward to their participation. In addition, I would like to sincerely thank Messrs. Sapieha, Preston and Thomson for their contribution and guidance during their time on the Board at Compton."