Business Services Industry
NGAS Resources Announces Land Vice President
Business Wire, Dec 14, 2007
LEXINGTON, Ky. -- NGAS Resources, Inc. (Nasdaq: NGAS) today announced that John R. (Rick) Bender, has been named Vice President, Land, at Daugherty Petroleum, Inc., NGAS' operating subsidiary. For the previous 12 years, he was the Director of the Division of Oil and Gas Conservation at the Kentucky Department for Natural Resources, having served with the Division for 17 years. Mr. Bender worked in the oil and gas sector for ten years, both public and private, before joining the Division of Oil and Gas. He is a Registered Petroleum Geologist and holds a Bachelor of Science degree in Geology from the University of Kentucky.
William S. Daugherty, President and CEO of NGAS Resources, commented, "We are pleased that Rick Bender has agreed to come on board as Vice President, Land. Rick has invaluable knowledge from his many years at the Kentucky Department for Natural Resources. Combined with his expertise as a petroleum geologist, he is expected to play a key role as we implement our strategy for accelerating organic growth." Mr. Daugherty added, "Rick's understanding of the Appalachian and Illinois Basins will be particularly beneficial to our development initiatives in these areas."
About NGAS Resources
NGAS Resources is an independent exploration and production company focused on unconventional natural gas basins in the United States that support repeatable drilling opportunities, principally in the southern portion of the Appalachian basin. Additional information, including the Company's annual report on Form 10-K for 2006 and its quarterly reports on Form 10-Q can be accessed on its website at www.ngas.com.
This release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act relating to matters such as anticipated operating and financial performance and prospects. Actual performance and prospects may differ materially from anticipated results due to economic conditions and other risks, uncertainties and circumstances partly or totally outside the control of the Company, including risks of production variances from expectations, volatility of product prices, and the level of capital expenditures required to fund drilling and the ability of the Company to implement its business strategy. These and other risks are described in the Company's periodic reports filed with the United States Securities and Exchange Commission.
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