Cheniere Energy Appoints New Director And Reports on Drilling Program.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Dec. 8, 2000 Cheniere Energy Inc. (Nasdaq:CHEXC) today announced the appointment of John K. Howie, PE, to its board of directors. Howie currently serves as vice president of EnCap Investments L.C., an investment firm that provides project and corporate debt and equity investment capital to independent oil and gas companies. Howie, a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of native, graduated from New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). State with a bachelor of science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies in chemical engineering in 1981. He began his career as a reservoir engineer for Amoco Production Company and then spent two years at Apache Apache (əpăch`ē), Native North Americans of the Southwest composed of six culturally related groups. They speak a language that has various dialects and belongs to the Athabascan branch of the Nadene linguistic stock (see Native American Corporation in increasing positions of responsibility. In 1991, Howie formed and managed an independent oil and gas firm operating in the East Texas area. In 1994, he took a position with a predecessor of Range Resources Corporation where he participated in a management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. and IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. and was responsible for acquisitions and project finance. Howie joined EnCap in July 2000. Cheniere's President Charles Reimer said that he's pleased to have Howie as a member of the board. "John provides us the insight of an experienced petroleum engineer with an impressive record of acquisitions and financing within the oil and gas industry." Reimer continued, "Updating our current drilling activity, Gryphon Exploration Company, our affiliate, has successfully completed the testing of its Shark Prospect. Initial testing confirmed a flow rate of 6 million cubic feet per day from the Cris "R" Stray B sand. Frac packing of the zone, just completed, is expected to provide for production capability of approximately 15 million cubic feet per day. Continuous production from the well is expected to begin early next year. Participants in the well include Gryphon Exploration Company (29.4 percent), Samson Resources Company (50 percent) and Andex Resources, L.L.C. (20.6 percent). Gryphon is now making preparations to move the rig to its next prospect in West Cameron Block 307. Dependent on rig availability, Gryphon anticipates drilling up to twelve exploration wells during 2001." Cheniere Energy Inc. is an independent oil and gas company focused in and around the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . The company explores in the shallow Gulf of Mexico using regional 3D seismic data. Activities offshore Louisiana are conducted through its 36.8 percent interest in privately-held Gryphon Exploration Company and its ownership of a 228 square mile proprietary 3D project. In Texas, the company is currently developing an exploration program offshore using 6,800 square miles A square mil is a unit of area, equal to the area of a square with sides of length one mil. A mil is one thousandth of an international inch. This unit of area is usually used in specifying the area of the cross section of a wire or cable. of recently licensed 3D data. Additional information about Cheniere can be found by calling the company's investor and media relations department at 866-632-9172 or by writing to chex@mdcgroup.com. Except for the historical statements contained herein, this news release presents forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Certain risks and uncertainties inherent in the company's business are set forth in the company's periodic reports that are filed with and available from the Securities and Exchange Commission. |
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