~~GLFE $30 million oil asset DD with links~~ 1)Gulf United Energy Inc. is an oil and gas exploration and production company with a unique portfolio of potential large-reserve projects in central Colombia and offshore Peru. Based in Houston, Texas, Gulf United Energy is led by a veteran professional management team with significant experience in South America. Near-term seismic-defined oil prospects and a large South American land position create the potential for significant shareholder value.
====================================================================== GLFE~~ $25 Million Equity Financing, 30 CENTS PER SHARE
GLFE is pleased to announce the closing of a $25 million private placement, consisting of the sale of approximately 83 million shares of common stock to seven institutional investors at a purchase price of $0.30 per share. Pritchard Capital Partners, LLC acted as the exclusive placement agent in connection with the private placement. The Company intends to use the proceeds from the financing to fund its exploration activities in Colombia and Peru and for general working capital purposes. John B. Connally III, Gulf United’s Chairman and Chief Executive Officer, commented, “The closing of this funding represents a big step forward for Gulf United Energy, and provides us with the operational and financial flexibility to drive Gulf United Energy through its next phase of drilling and corporate development.”
~~ Founding Director of Nuevo Energy, a NYSE listedHouston based E&P company ~~ Founder and former CEO of Pure Energy and Pure Gas Partners, a private E&P company with operations in New Mexico ~~ Associations with Back Nine Energy Partners, Pin Oak Energy, and Commodore Energy Partners ~~ Former Partner at Baker Botts, specializing in corporate finance and M&A in the energy space ~~ Lead Director, Chairman of Compensation Committee and member of the Audit Committee of Endeavour International Corp. James C. Fluker III, Vice President Exploration
Professional geophysicist and geologist with over 30 years of experience in petroleum exploration
~~ Previous tenures at Exxon, British Gas, and Nippon Oil Exploration ~~ Consultant to SK Energy, Teikoku, and Consolidated Contractors Company ~~ Expertise in acquisition and interpretation of seismic data for onshore/offshore and domestic/international ~~ Proven record of accomplishment of oil discovery in South America, North Africa, and Middle East ~~ Speaks, reads, and writes Spanish fluently Ernest B. Miller IV, Executive Vice President
Over 20 years of development, operations, and financial experience with energy companies in the US, Canada, and United Kingdom ~~ Partner in Rodeo Development, a private E&P company that was sold in 2008 ~~ Former Director of Finance at Calpine specializing in project finance and A&D of natural gas reserves ~~ Associations with Daytona Energy and BPZ Energy
Jim D. Ford, Executive Vice President
Over 30 years of experience in the energy sector ~~ Senior international negotiator with Santa Fe Energy Resources Inc. ~~ Extensive international exposure in South America, Africa, Former Soviet Union, and Asia ~~ Responsible for the negotiations of the first ever production sharing agreement in onshore China ~~ Associations with Rodeo Development, Riata Resources, Intercap Resource Management, and Daytona Energy
NYSE listed Anadarko Petroleum CEO former John N. Seitz, Independent Director