Gulf United Appoints New CEO

Gulf United has announced the appointment of John B. Connally III as Chairman of the Board, President and Chief Executive Officer.

Mr. Connally, an independent oil and gas producer, was formerly a Partner with the law firm of Baker & Botts, where he specialized in corporate finance and mergers and acquisitions for oil and gas and oil field service companies. Since leaving the firm, Mr. Connally has served as a founding Director of Nuevo Energy, a Houston-based oil and gas company listed on the New York Stock Exchange, and the founder, former Director and former Chief Executive Officer of Pure Energy and Pure Gas Partners, private oil and gas entities operating in the Permian Basin.

Mr. Connally is active in leasing, seismic and drilling activities on the Texas Gulf Coast and is currently a Director of Endeavour International Corporation, a public company listed on the New York Stock Exchange AMEX (END) and on the London Stock Exchange and engaged in oil and gas exploration and production in the U.K. North Sea and in the U.S. domestic market. Mr. Connally is Chairman of the Compensation Committee and a member of the Audit Committee of Endeavour and serves as its Lead Director.

Regarding his new position with Gulf United, Mr. Connally said, "I am pleased to become involved with Gulf United and excited about the opportunities that we have been able to generate in Colombia and Peru. We believe that we have quality acreage positions and that the timing is right for developing these positions. I look forward to leading those efforts as we strive to deliver value to our Gulf United shareholders."