Denver, Co., USA - February 1, 2010, Denver, Co., USA - Gasco Energy, an oil and gas company, announced the resignation of Mark A. Erickson from his position as president and chief executive officer and as a member of the board.
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Mr. Erickson has agreed to serve as a consultant for the company for nine months in order to assist the Company with the transition process. Mr. Erickson has served as a Director, Chief Executive Officer and President of Gasco since February 2001. Mr. Erickson served as President of Pannonian Energy Inc. from mid-1999 until the Company's merger with Pannonian Energy in February 2001.
In late 1997, Mr. Erickson co-founded Pennaco Energy, Inc., an AMEX listed oil and gas company with properties in the Powder River basin of Wyoming. He served as an officer and Director of Pennaco from its inception until mid-1999. Mr. Erickson served as President of RIS Resources (USA), a natural gas company from late 1997 to the end of 1998.
Mr. Erickson is a Registered Petroleum Engineer with twenty years of experience in business development, finance, strategic planning, marketing, project management and petroleum engineering. He holds a MS in Mineral Economics from the Colorado School of Mines and a BS in Petroleum Engineering from the Montana School of Mineral Sciences.
The company also announced that it has appointed director Charles B. Crowell to serve as the Company's interim chief executive officer while continuing to serve as a director of the Company.
Mr. Crowell, who has served on various committees of Gasco's Board of Directors since July 2002, is a practicing attorney, a consultant to oil and gas companies and holds directorships on other public company Boards. His over 30 years of oil and gas industry experience and lengthy service to Gasco as a lead director make him ideally suited to assume the responsibilities as interim chief executive officer. Mr. Crowell holds a BA degree from John Hopkins University and a JD from the University of Arkansas.
Also on January 29, 2010, the Board of Directors appointed the Company's executive vice president and chief financial officer, W. King Grant, to serve as the Company's president. He will also maintain his current position as chief financial officer. ■