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May
9, 2006
Storm
Cat Energy Adds Two New Independent Directors
CALGARY
and DENVER : (PR Newswire) : May 9, 2006 : Storm Cat
Energy Corporation (AMEX: SCU; TSX.V: SME) today announced
the appointment of Jon Whitney of Colorado Springs,
Colorado,and David Wight of Anchorage, Alaska to its Board
of Directors effective immediately. Both of these
individuals have long successful careers in the oil
and gas industry. These appointments fill a vacancy
left on the Board by a recent resignation and add one
additional Director, increasing the Board to seven
Directors. Mr. Whitney will join the Audit Committee
replacing Mike OıByrne, and Mr. Wight will be joining
the Compensation Committee filling an existing vacancy.
Jon Whitney
Jon Whitney began his employment
with Colorado Interstate Gas Company (CIG), a natural
gas transmission company, on October 1, 1968 as an
accountant and was promoted to increasingly important
positions within the company. In 1973, Mr. Whitney
was promoted to Vice President, Regulatory Affairs
and Controller and was subsequently promoted to Senior
Vice President and then Executive Vice President, with
the additional responsibilities of Administration,
Marketing, Engineering and Operations. From 1990 until
a merger with the El Paso Corporation in 2001, Mr.
Whitney was President and Chief Executive Officer of
CIG, during which time CIG was ranked by several outside
entities as one of the top pipeline companies in the
U.S. Mr. Whitney ultimately held various officer
positions with 15 different companies within the CIG
corporate family and also has held committee positions
with the Interstate Natural Gas Association of America
and the American Gas Association. Mr. Whitney also
has held or holds directorships with several outside
companies and community organizations.
Mr. Whitney has a Business
degree from Colorado State University in Fort Collins and,
prior to his employment with Colorado Interstate Gas Company,
was a Certified Public Accountant in private practice. Mr.
Whitney is currently a member of Peak Energy Ventures,
a natural gas consulting company.
David
Wight
David Wight is the immediate
past President and CEO for Alyeska Pipeline Service Company
and retired January 1, 2006 from BP after 41 years. Prior
to joining Alyeska, Mr. Wight served as President of BP
Amoco Energy Company of Trinidad and Tobago for eight years.
Mr. Wight graduated from Texas
Tech University with a degree in Petroleum Engineering
in 1964 and went to work for Amoco Production Company in
Texas as a petroleum engineer. His Amoco career involved
him in activities in Texas, Kansas Oklahoma, Colorado,
Utah, Alaska and Illinois where he developed engineering,
operation, production, procurement and management experience.
His engineering and operations experience include extensive
secondary recovery activity in Texas and the Rockies as
well as gas activities from Kansas through the Rockies.
The gas activities included conventional gas development,
tight gas and coalbed natural gas. He then moved to Egypt
as Managing Director of GUPCO, a joint E&P venture
with the Government of Egypt.
As President of Amoco Trinidad,
an Exploration and Production Company, Mr. Wight led the
establishment of the first Greenfield liquefied natural
gas plant in Trinidad, the second LNG plant in the Western
Hemisphere. He also led the start of a two train LNG plant
expansion as Associate President and Chairman of BP Energy
Company of T&T.
Mr. Wight is a member of the
following Boards and Associations: Success by 6 Board,
the University of Alaska Anchorage College of Fellows,
the University of Alaska Anchorage Board of Advisors, Trustee
of the Nature Conservancy of Alaska, Commonwealth North
Board. He is a member of the Petroleum Engineering
Advisory Board, Texas Tech University, a member of the
Providence Alaska Hospital Region Board, a member of the
Alaskan Command Civilian Advisory Board. Upon retirement
he resigned board positions with the Alaska Oil and Gas
Association, the API, and the Association of Oil Pipelines.
Scott
Zimmerman, Storm Cat President and Chief Executive
Officer said: 'Jon and Davidıs experience, not only
in energy industry, but also in the building and
operation of successful businesses, will provide
additional strength to Storm Cat at a time when we
are rapidly expanding our operations while executing
on our growth strategies. Their proven leadership,
experience and energy industry savvy make them ideal
additions to Storm Catıs Board.'
Stock Options
The Company granted to Mr.
Whitney and Mr. Wight, five-year options under its
Amended & Restated Share Option Plan to purchase
up to 100,000 Common shares of the Company at an exercise
price of C $2.94 per share.
The Company also granted stock
options to its Officers and Directors to purchase up to
an aggregate of 800,000 Common shares of the Company exercisable
for a period of five years ending on March 9, 2011 at an
exercise price of C $3.00 per share.
About Storm Cat Energy
Storm Cat Energy is an independent
oil and gas company focused on the pursuit, exploration
and development of large unconventional gas reserves
from fractured shales, coal beds and tight sand formations.
The Company has producing properties in Wyomingıs Powder
River Basin, exploration and development acreage in
Canada and Alaska, and high-risk, high-reward exploration
acreage in Mongolia. The Company's shares trade on
the American Stock Exchange under the symbol 'SCU'
and in Canada on the TSX Venture Exchange under the
symbol 'SME.'
Company Contact:
Scott Zimmerman, President and Chief Executive Officer
Paul Wiesner, Chief Financial Officer
Phone: 87-STORMCAT
www.stormcatenergy.com
By Order of the Board of
Directors
Storm Cat Energy Corporation
J. Scott Zimmerman
President and Chief Executive Officer
THE
TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY
OF THIS RELEASE.
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