Tudor Capital and Pickering Energy Partners Receive FINRA Approval to Combine

Business Wire, Sept 6, 2007

--Energy Investment and Merchant Banking Boutique Moving to New Headquarters--

HOUSTON -- Tudor Capital and Pickering Energy Partners have received FINRA (NASD) approval to form a combined firm named Tudor, Pickering & Co., LLC.

The combination, which was initially announced in February 2007, creates a leading investment and merchant-banking boutique serving the energy industry.

Terms of the deal were not disclosed.

"The pieces are in place for a great future together - with the strength of highly respected equity research business complemented by the expertise of our seasoned investment-banking team," said Bobby Tudor, CEO of Tudor, Pickering & Co. "We have assembled a dozen top-flight investment bankers and have already had the opportunity to serve a number of leading clients."

Dan Pickering, who initially founded Pickering Energy Partners with two other partners in 2004, will continue to oversee the combined firm's research, sales and trading arm - and also serve as its president. "Our research coverage encompasses nearly 100 companies in the upstream, midstream and oilfield service sectors, and we are delighted to be able to now offer the full complement of investment banking services."

The company, which has more than 40 employees, also announced the opening of its new headquarters on the 50th and 51st floors of Heritage Plaza in downtown Houston, effective September 10. The new offices are:

         Tudor, Pickering & Co., LLC
         Heritage Plaza
         1111 Bagby, Suites 5000 & 5100
         Houston, Texas 77002
         713-333-7100

About Tudor, Pickering & Co.

Tudor, Pickering & Co., LLC provides investment banking and equity research, sales and trading services through its broker-dealer, Tudor, Pickering & Co. Securities, Inc. Additional information on the company can be found at www.TudorPickering.com.