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Liberty Energy Corp. Announces Appointment Of
Industry Veteran CEO and COO Team
HOUSTON, May 7, 2013
/PRNewswire/ -- Liberty Energy
Corp. (OTCBB:LBYE) ("Liberty" or
"the Company") is pleased to
announce the appointment of two
industry veterans, Miles D Bender
and William T Jones, to the
executive leadership team. Mr.
Bender will come on board as the
new Chief Executive Officer,
Director and Chairman of the Board
of Directors, while William T Jones
will serve as the Chief Operating
Officer.
Mr. Bender has been involved in the
energy business for twenty-nine
years. He was a founder, President
and CEO of National Energy Group, Inc. ("NEG"), which he took public
and which he helped grow from startup to over $300 million in proved
reserve value, revenues of $54.7 million and cash flow of over $30
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reserve value, revenues of $54.7 million and cash flow of over $30
million. NEG owned working interests in more than 1,000 wells of which
the Company operated over 90% with just under 100 employees.
Market capitalization of NEG grew to nearly $350 million. He led NEG
with respect to the identification, negotiation, completion, and
integration of some 16 acquisitions for NEG, over 25 during his career.
He led NEG in completing a $120 million acquisition and raising $175
million in 1996 and an additional $65 million in 1997. During his career
he raised over $350 million for various enterprises. NEG was later sold
in 2006 to publicly traded SandRidge Energy. He was President of the
Georgia Oil and Gas Association and a Director and member of the
Executive Committee of the Independent Petroleum Association of
America (IPAA).
Mr. Jones has been a licensed Petroleum Engineer for 40 years. In
2004, he formed Redmon Oil Company in Dallas, Texas. Prior to that,
he was Chief Operating Officer and Principal of Lynx Production
Company, Dallas, Texas, from 1999 to 2004. Mr. Jones joined National
Energy Group, Inc. of Dallas, Texas, as Vice President, Production and
Engineering in 1994 and was promoted to Senior Vice President,
Operations in 1996. After receiving a B.S. degree in Petroleum
Engineering from Mississippi State University in 1968, he began his
career with Shell Oil Company in Houston, Texas. In 1973, Mr. Jones
joined Tenneco Oil Company. After Tenneco Oil, Mr. Jones held various
engineering and management positions with several independent oil
companies in Dallas and Ft. Worth, Texas. From 1989 to 1991, he was
Senior Petroleum Engineer for Snyder Oil Company in Fort Worth
before moving to Abilene to become Chief Operating Officer of Ard
Drilling Company from 1992 until 1994.
"We joined Liberty as a platform for our 'under the radar' acquisition
strategy, targeting acquisitions within the exploration & production and
oilfield services sectors," stated CEO Miles Bender.
Please contact David Sexton directly at 1-832-708-3909 or email
[e-mail] to request additional information and ongoing
updates.
ABOUT LIBERTY: Liberty Energy Corp. (OTCBB:LBYE) is an
Independent Oil and Gas Exploration and Production Company
dedicated to the sourcing and production of oil and gas onshore in the
United States. Headquartered in Houston, Texas, the company has
signed agreements to acquire leases and royalties in Texas, covering
several leases with extensive potential for future development. Currently
the company is targeting mergers & acquisitions within the E & P or
oilfield services of the upstream oil & gas segment.5/7/13 LibertyEnergyCorp.Announces AppointmentOf IndustryVeteranCEOandCOOTeam
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Certain statements in this press release are forward-looking and involve
a number of risks and uncertainties. Such forward-looking statements
are within the meaning of that term in Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. Liberty Energy Corp. bases these forwardlooking statements on current expectations and projections about future
events, based on information currently available. The forward-looking
statements contained in this press release may also include statements
relating to Liberty Energy Corp.'s anticipated financial performance,
business prospects, new developments, strategies and similar matters.
Liberty Energy Corp. disclaims any obligation to update any of its
forward-looking statements, except as may be required by law.
ON BEHALF OF THE BOARD OF DIRECTORS,
Miles Bender, CEO & Chairman
Liberty Energy Corp
Liberty Energy Corp.
Two Allen Center
Suite 1600
1200 Smith Street
Houston, TX 77002
Tel: [phone]
Fax: [phone]
Email: [e-mail] Website: www.energy-liberty.com
Facebook: www.facebook.com/LibertyEnergyCorp
INVESTOR RELATIONS:
David Sexton
Tel: [phone]
Email: [e-mail]
SOURCE Liberty Energy Corp.
Copyright 2013 PR Newswire