Shareholders
passed a special resolution amending the Articles of
the Company to, among other things, create
a class of Preferred Shares issuable in series.
In addition, resolutions were adopted to: (i) give the directors the authority
to seek additional equity financing over the coming year; (ii) adopt a
Restricted Share Unit Plan; and (iii) to amend the Company's
Share Option Plan to, among
other things, increase the number of Common shares reserved for issuance
under the Plan. Hein & Associates LLP were re-appointed auditors for
the ensuing year, and the following persons were elected to the Company's
Board of Directors: J. Scott Zimmerman, Michael O'Byrne, Robert D. Penner,
Michael J. Wozniak, Robert J. Clark, David G. Wight, and Jon R. Whitney.
Further particulars about the Company's annual meeting can be found in
the Company's management proxy circular dated May 12, 2006.
At the Directors' meeting held immediately
following the annual shareholders' meeting, the Directors
appointed
the following officers to serve for the
ensuing year: J. Scott Zimmerman, President and Chief Executive Officer;
Paul Wiesner, Secretary, Treasurer and Chief Financial Officer; Keith Knapstad,
Vice-President, Operations (USA); and, Don Martin, Vice-President, Canada & International
Operations. Other routine business was approved at the meeting of the Directors,
including the appointment of members of the Audit, Compensation, and Nominating
Committees, the creation of and appointment of members to an Executive
Committee and the adoption of an Executive Committee Charter, and increasing
the quorum
requirement for Directors meetings. In addition, the Board approved amendments
to the Company's equity compensation plans to bring them in line with the
rules and policies of the Toronto Stock Exchange.
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 Wyoming's Powder River Basin, exploitation
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 Toronto Stock Exchange under the symbol "SME."
