RedHawk Energy Announces Organizational Changes
November 11, 2009 @11:38am
For Immediate Release
LAFAYETTE, LOUISIANA - NOVEMBER 11, 2009 - RedHawk Energy Corporation ("RedHawk" or "Company") announced today certain organizational changes as a result of its previously announced acquisition of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively referred to herein as the "Xxtreme Group").
Steve Turner, former Chairman, Chief Executive Officer and founder of the Xxtreme Group has been named RedHawk's President and Chief Operating Officer. From 1975 to 1987, Mr. Turner held various executive positions for several domestic oil and gas drilling contractors. In 1987 he formed Gulf Coast Pipe and Equipment ("GCPE") to sell and lease drill pipe to energy companies. GCPE was sold to Aberdeen-based John Lawrie Group ("JLG") in 1990 and after the sale Mr. Turner remained with JLG as an executive officer and director. In 1988, he formed Nspection System to handle inspections of drill pipe and casing. Mr. Turner later sold Nspection System to ICO in 1990. After the sale of Nspection Systems, Mr. Turner formed Drill Tube International ("DTI") to manufacturer and market drill pipe and casing. He later sold DTI to Grant-Prideco ("GP") and remained as President of GP's Drill Tube Division until he formed the Xxtreme Group in 2003.
G. Darcy Klug, founder of RedHawk, has resigned his position as the Company's Chief Executive Officer and will assume the position of RedHawk's Executive Vice President and Chief Financial Officer. In this capacity, he will be responsible for RedHawk's strategic planning, investor relations, treasury activities and business acquisitions. Prior to founding RedHawk, Mr. Klug was most recently Executive Vice President for OMNI Energy Services Corp. ("OMNI") He joined OMNI in May 2001 after being involved in private investments since 1987. Between 1983 and 1987, he held various positions with a private oil and gas fabrication company, including the position of Chief Operating Officer and Chief Financial Officer. Prior to 1983, Mr. Klug held various financial positions with Galveston-Houston Company, a NYSE-listed manufacturer of oil and gas equipment. Between 1973 and 1979, he was a member of the audit staff of Coopers & Lybrand (now PricewaterhouseCoopers). Mr. Klug is a graduate of Louisiana State University and in 1974 was admitted as a member of the Louisiana State Board of Certified Public Accountants, the Texas State Board of Certified Public Accountants and the American Institute of Certified Public Accountants.
Thomas J. Concannon, previously named as the Company's Senior Vice President has been named RedHawk's Corporate Secretary. In addition to various operational duties, Mr. Concannon will also assume responsibilities for various RedHawk corporate legal and financial matters. He most recently served as Vice President and Chief Financial Officer of Geokinetics Inc., a publicly traded provider of seismic acquisition and data processing services to the oil and natural gas industry. From 1992 to 1996, Mr. Concannon worked as a private consultant for various energy companies. Prior to 1992, he served as President of NJR Energy, an oil and natural gas exploration company and as a director of its parent company, New Jersey Resources, a New York Stock Exchange Company. Mr. Concannon earned an accounting degree from Manhattan College. Prior to receiving his Juris Doctorate from St. John's University School of Law, he was a member of the audit staff of PricewaterhouseCoopers.
Robert Messer has been named RedHawk's Vice President and Chief Accounting Officer. Mr. Messer was the Chief Financial Officer of Xxtreme Group, LLC, from whom RedHawk acquired the Xxtreme Group, since 2005. In that capacity, he was responsible for Xxtreme's daily financial matters including financial due diligence of several business combinations. Mr. Messer received a BS degree in accounting from McNeese State University in 1974 and an M.B.A. degree in 1983 from Houston Baptist University. Mr. Messer worked for GEO Seismic Services, Inc. ("GSS") as Chief Financial Officer from 1979 through 1990 and as President from 1990 through 1992. During this period Mr. Messer supervised the consolidation and integration of GSS's two geophysical companies and the acquisition of Milan, Italy-based GUS Exploration Company. After leaving GSS, he joined FCA Corp. ("FCA") as Vice President, Chief Operating Officer and Compliance Officer. During this time, Mr. Messer was also given the responsibility of managing the Real Estate division for FCA which included the responsibility for the acquisition of approximately $100,000,000 of commercial real estate investments. While at FCA, he also served as President of Ivy Realty Trust, an office building REIT, Treasurer of United Investors Realty Trust, a NASDAQ-listed real estate investment company), and President of both Holly Mortgage Trust and First Commonwealth Mortgage Trust, which were private Real Estate Investment Trusts managed by FCA. He held these positions until he left in 2005 to join Xxtreme Group.
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RedHawk Energy Corporation is focused on investments in and the consolidation, through acquisition, of domestic oil and gas equipment manufacturing, leasing and service companies. RedHawk's common stock is registered with the Securities and Exchange Commission but the Company does not expect to list and commence trading its common stock until mid-2010.This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which involve known and unknown risks, uncertainties and other factors. The accuracy of the forward-looking statements depends on assumptions about events that change over time and may be susceptible to periodic change based on actual experience and new developments. Actual events, circumstances, effects and results may differ materially from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the forward-looking statements contained herein should not be regarded as representations by RedHawk or any other person that the projected outcomes can or will be achieved. RedHawk cautions readers that it assumes no obligation to update the forward-looking statements in this press release.
Media Contact:
Julie Calzone
(337) 235- 2924 ext. 18
jcalzone@calzone.com
Company Contact:
Darcy Klug
(337) 269-5933
darcy.klug@redhawkenergycorp.com