Clayton Williams Energy Announces the Appointment of Ted Gray, Jr. to Its Board of Directors.MIDLAND, Texas Midland is the county seat of Midland CountyGR6 located on the Southern Plains of the western area of the U.S. State of Texas. As of the 2006 U.S. Census estimate, the city had a total population of 102,073. -- Clayton Williams Clayton Wheat Williams, Jr. (b. 1931), a businessman from Midland, Texas, was the unsuccessful Republican gubernatorial nominee in 1990 against the Democratic State Treasurer Dorothy Ann Willis Richards even though he initially led in opinion polls by twenty points. Energy, Inc. (NASDAQ-NMS:CWEI CWEI Combat Warfare Electronic Intelligence ) today announced that Ted Gray, Jr. has been appointed by the Board of Directors to fill the vacancy on the Board resulting from the previously announced resignation of Stanley S. Beard. The appointment of Mr. Gray restores the size of the Board to seven directors, four of which are independent, as defined by NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on listing standards, and places the Company in compliance with the NASDAQ listing requirement that a majority of the directors be independent. Mr. Gray is a Senior Vice President at UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc. in Austin, Texas, where he is a member of a team managing portfolios for high net worth individuals and foundations. Prior to his employment with UBS, Mr. Gray was at Morgan Stanley Mr. Gray will hold office for a term expiring at the 2009 annual meeting of stockholders of the Company. Clayton W. Williams, Jr., the Company's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "We are pleased to have Ted on our board. He brings experience along with a strong finance background and knowledge base. He will be a great addition to our other board members." Clayton Williams Energy, Inc. is an independent energy company located in Midland, Texas. Except for historical information, statements made in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are subject to a wide range of business risks and uncertainties, and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, production variance from expectations, volatility of oil and gas prices, the need to develop and replace reserves, the substantial capital expenditures required to fund operations, exploration risks, uncertainties about estimates of reserves, competition, government regulation, costs and results of drilling new projects, and mechanical and other inherent risks associated with oil and gas production. These risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements. |
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