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Gasco Energy: Chuck Crowell named chairman, King Grant to be named CEO and director

Staff writer |
Denver, Co., USA - September 20, 2010, Denver, Co., USA - Gasco Energy, a natural gas and petroleum exploitation company, announced changes to its officers and directors.

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Effective immediately, the Board of Directors has appointed director Charles B. Crowell to serve as the Company's Chairman of the Board of Directors, replacing Mark A. Bruner as Chairman. Mr. Bruner will remain as a Director.

Prior to his appointment as the Company's CEO in January 2010, Mr. Crowell served as a member of the Board, the Vice Chairman of the Board and a member of the Audit, Compensation and Executive Committees of the Board since July 2002 and a member of the Nominating Committee of the Board since April 2006. As of the Effective Date of his appointment as CEO, Mr. Crowell began serving as acting CEO of the Company, the Vice Chairman of the Board, a member of the Board and a member of the Executive Committee of the Board.

Mr. Crowell has served as a member of the Board of Directors of Derek Oil & Gas Corporation since March 2007. Mr. Crowell served as Chairman of the Board of Directors, President and Chief Executive Officer of PetroHunter Energy Corporation through May 2009. Since 1993, he has been a practicing attorney and a consultant to oil and gas companies, and was a senior member of Crowell & Bishop, PLLC, Attorneys, from November 1995 through June 1998.

From September 1996 until June 2000, Mr. Crowell held the position of Manager at Enigma Engineering Company, LLC. Mr. Crowell also worked at Triton Energy Corporation where he held the positions of Executive Vice President, Administration from November 1991 to May 1993, Senior Vice President and General Counsel from August 1989 to October 1991 and Vice President and General Counsel from November 1981 to July 1989.

From June 1999 to February 2001, Mr. Crowell served as a member of the Board of Directors of Comanche Energy, Inc. He has also held public directorships at Arakis Energy Corporation from June 1997 to October 1998, at Aero Services International, Inc. from December 1989 to May 1993 (where he was Chairman of the Board from August 1990 to December 1992) and at Triton Europe, plc. from October 1989 to May 1993.

Mr. Crowell holds a BA degree from John Hopkins University and a JD from the University of Arkansas. He was admitted to the practice of law in Texas in 1974. In addition, Mr. Crowell announced his planned retirement as chief executive officer effective January 1, 2011, he will continue to serve as Chairman of the Board of the Company.

The Board also unanimously agreed that the Company's current president and chief financial officer, W. King Grant, would be appointed as chief executive officer upon Mr. Crowell's resignation. Effective immediately, the Board also appointed Mr. Grant to serve as a member of the Board of Directors.

Prior to his appointment as the Company’s President, Mr. Grant (age 46) served as Chief Financial Officer and Executive Vice President of the Company from July 2001 and as a member of the Board from July 2001 until March 2003. From November 1999 to May 2001, Mr. Grant served as Executive Vice President and Chief Financial Officer for KEH.com, a catalog/internet retailer of new and used camera equipment.

From February 1997 to March 1999, Mr. Grant was a Senior Vice President in the Natural Resources Group of ING Baring, LLC where he was responsible for providing financing and advisory services to mid-cap and smaller energy companies. For the previous eleven years, Mr. Grant held several positions at Chase Manhattan Bank and its affiliates, most recently as a Vice President in the Oil & Gas group.

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