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slambino

10/10/15 10:37 PM

Post #1

ROOSTER ENERGY LTD. ANNOUNCES THE APPOINTMENT OF AN ALTERNATE DIRECTOR AND NEW CHIEF FINANCIAL OFFICER
CALGARY, ALBERTA (September 1, 2015) ROOSTER ENERGY LTD. (the “Company”) (www.roosterenergyltd.com) (TSXV: COQ) announces the appointment of J. Munro M. Sutherland as an alternate Director and Gary L. Nuschler, Jr. as its new Chief Financial Officer. The appointments are effective September 1, 2015.
In conjunction with the new appointments, the Company also announces the resignation of Paul A. Crilly as a member of its Board of Directors and Steven M. Holder as its Chief Financial Officer. The resignations are effective August 31, 2015. Mr. Crilly served as an independent director and was a member of the Audit Committee and Corporate Governance Committee. Both Mr. Crilly and Mr. Holder resigned for personal reasons and their mutually agreed departures are unrelated. Also, there was no disagreement by either Mr. Crilly or Mr. Holder with the policies or practices of the Company.
Robert P. Murphy, President and Chief Executive Officer commented: “We appreciate the service of both Paul and Steve and wish each of them the best. On behalf of the Board and Rooster team, we want to especially thank Paul for his many years of service to the Company.”
Mr. Murphy further commented that “we are pleased to welcome Munro Sutherland as an independent director who has been appointed by the Board to replace Paul in the interim period between September 1, 2015 and our 2015 annual general meeting of shareholders in October. Munro has years of experience as a director and chief financial officer in both public and private oil and gas companies which should greatly benefit Rooster and its shareholders. In addition, we are pleased to announce that Gary Nuschler, Jr. has been promoted from his role as vice president of finance to Chief Financial Officer of the Company. Gary has been with us since 2013 and his intimate knowledge of the finances of the Company will enable a seamless transition in filling the role of Chief Financial Officer.”
Mr. Sutherland has over 40 years of experience in accounting and finance, primarily with oil and gas exploration and production companies, and he has been a Chartered Accountant since 1978. For many years he was at various times an executive and non-executive director of Cairn Energy plc and Cairn Energy USA. He was also the finance director of Melrose Resources plc. Mr. Sutherland holds a BA from Heriot-Watt University in Edinburgh.
Mr. Nuschler has worked with Rooster Petroleum, LLC, since 2013. Prior to joining Rooster, he worked as a research analyst for several investment banks, including Jefferies Group, LLC, Sterne Agee Group, and Sanders Morris Harris. His experience includes equity research and corporate finance advisory services for exploration & production and oilfield service companies. Mr. Nuschler holds a BS from the University of New Orleans.

ABOUT ROOSTER ENERGY LTD.
Rooster Energy Ltd. is a Houston, Texas, based independent oil and natural gas exploration and production company focused on the development of resources in the shallow waters of the Gulf of Mexico and the delivery of well intervention services, including well plugging and abandonment, through its wholly owned subsidiary, Morrison Well Services, LLC. Our primary assets consist of interests in 14 federal leases, 9 state leases and 16 rigless plug and abandonment units of well intervention equipment. The Company is the operator of the majority of its leases and daily oil and gas production.
Investors are welcome to visit our website at www.roosterenergyltd.com or contact the following for all corporate updates and investor inquiries:
Gary Nuschler, Jr. Chief Financial Officer Rooster Energy Ltd. 16285 Park Ten Place, Suite 120 Houston, Texas, USA 77084 Telephone: (832) 463-0625

Rooster Energy Ltd (COQ)

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Rooster Energy Ltd. is an integrated oil and natural gas company with an exploration and production (E&P) business and a leading downhole and subsea well intervention and plugging and abandonment (P&A) service business, i.e., the Well Services business. This combination enables Rooster to operate and manage the entire lifecycle of a well from drilling through abandonment and provides us with a significant advantage in exploiting offshore reserves in our core area of the Gulf of Mexico. Our operations are located in the state waters of Louisiana and the shallow waters of the Gulf of Mexico, mature regions that have produced since 1936.

Our E&P business consists of approximately 41 gross wells capable of producing, some of which are on leases that have been producing since the 1950s. We have several primary term leases for future exploration and our remaining leases are held by production. We believe that the quality of our leases and our field acquisition strategy reduces the development risk and promotes operating efficiencies.

The long-term strategy of Rooster is to increase its oil and gas reserves and production while keeping its finding, development and operating costs low. This strategy is implemented through drilling exploratory and development wells from an inventory of available prospects that have been evaluated for geologic and mechanical risk and future reserve potential. Our drilling program contains some high risk/high reserve potential opportunities as well as some lower risk/lower reserve potential opportunities, in order to attempt to deliver a balanced program of reserve and production growth to enhance shareholder value.

The Well Services business primarily provides P&A services in the Gulf of Mexico with 16 rigless complimentary sets of equipment, "units" or "spreads". A spread generally consists of a pump powered by a diesel engine, wireline units, cement blenders, tanks and assorted tools. Our team includes both E&P engineers (specializing in reservoir, drilling, completion, and construction) and P&A engineers (specializing in well plug and abandonment). The combined expertise of our engineers allows the Company to provide its customers with extensive technical support, exceptional safety performance and high quality customer service. Customers include many of the largest operators in the Gulf of Mexico.

In addition to working for third party customers, the Well Services business is strategic to our E&P business, as we are able to utilize the Well Services assets and employees to evaluate and acquire mature fields with exploitable upside for minimal costs. Through the utilization of our in-house P&A expertise, we are able to cost effectively manage our own asset retirement liabilities. The result of our combined businesses truly allows for a "Cradle to Grave" asset management model with enhanced efficiencies and hence profitability and value.

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