Morgan Creek Energy Corp.
Morgan Creek Energy Corp. Appoints William P. Begley, As Manager of Operations; Blake K. Box as a Director and D. Bruce Horton as CFO
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The issuer is solely responsible for the content of this announcement.
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NEWS RELEASE
Morgan Creek Energy Corp. Appoints William P. Begley, As Manager of
Operations; Blake K. Box as a Director and D. Bruce Horton as CFO
DALLAS, TX., Sept.7, 2006/PRNewswire-FirstCall/ – In reference to its Form
8K filed with the SEC August 25, 2006, Morgan Creek Energy Corp. (“the
Company”) (symbol OTCBB-MCRE) has appointed William P. Begley as Manager of
Operations, Blake K. Box as a Director and D. Bruce Horton to the position
of CFO.
Mr. Begley is a senior management executive with over 25 years of
experience in entrepreneurial and start-up companies, having managed total
operational responsibility for small to mid-size companies with revenues to
$65 million.
He began his career working in the oil patch for industry leader,
Halliburton over 30 years ago. He worked his way through the oil and gas
industry, moving into senior management in the securities and financial
industry, eventually owning his own spring water distribution company.
In 1995, he took up the position of President for Texas Far East based in
Dallas, Texas. Mr. Begley helped that company in assessing all
opportunities for acquisition and drilling and became the driving force
behind the company’s acquisition of 221,000-acre drilling lease at Sakhalin
Island, Russia.
Mr. Begley currently serves as Vice President of Heartland Rig
International, a drilling equipment company in Brady, Texas that he helped
grow from revenues of $2.7 million to $45 million in three years’ time. He
has a strong track record for building multi-disciplined teams to achieve
sales and manufacturing/delivery goals.
Mr. Begley will work with the management team to oversee the general
operations of the Company.
Blake K. Box joins the Board Of Directors and will aid in the areas of M&A
and financing support.
Mr. Box is the President and Chief Investment Officer of Shannon
Investments Corporation’s Strategic Advisers Group. His responsibilities
include Shannon’s asset allocation policies and strategies, Internet
investment products, quantitative research, and investment risk management.
While at Shannon, he has also been portfolio manager, Director of
Investment Risk Management, Director of Quantitative Research and Head of
Investment Research and Analysis. Prior to joining Shannon, he was a Vice
President with a Houston-based realty group where he was responsible for
quantitative investment and marketing strategies.
Mr. Box has had significant participation in the energy sector through his
involvement with Box Energy Corporation. He has been a shareholder with Box
Brothers Holding Company since the 1980’s, which owned a majority and
controlling stake in publicly traded Box Energy Corporation until the
company was sold to Remington Oil.
From 1995 to 1999, Mr. Box was a lecturer in real estate investment
strategies at regional colleges and universities. He has contributed to
research publications, which have appeared in leading practitioner
journals. He has obtained certifications through national investment
management associations and has served on boards and executive committees
for the local associations.
In addition, D. Bruce Horton, a founding director of the Company, moves to
the position of Chief Financial Officer and Director.
Mr. Horton was a partner in a public accounting firm, and in 1986, he
co-founded, and was director and chief financial officer of the highly
successful Clearly Canadian Beverage Corporation.
He has been active in the finance industry, both in the private and public
sectors, as an accountant and a financial management consultant, with an
emphasis on corporate financial reporting, financing and tax planning. Mr.
Horton has specialized in corporate management, re-organization, mergers
and acquisitions, international tax structuring, and public and private
financing for over thirty years.
About Morgan Creek Energy Corp.: Morgan Creek Energy Corp. is a natural
resource exploration company engaged in the acquisition and development of
strategic oil and natural gas properties worldwide. For further information
see: www.morgancreekenergy.com
Symbol: OTCBB – MCRE; Frankfurt/Berlin Symbol – M6C, WKN No.: AØJL4C; ISIN:
US61732R1Ø77
Contact North America: Investor Relations
Tel.: +1 214-321-0603
Contact Europe: International Market Trend AG
Tel.: +41-43-888-67-00
SAFE HARBOR STATEMENT
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”, AS THAT TERM IS
DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF
1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY
HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS
REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED
IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED
OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS,
INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE
SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR
SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES
FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH
PROPERTY DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE
COMPANY’S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND
FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE
COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL
PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT
ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S DEVELOPMENT
EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL
SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS
NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE
FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS
COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND
INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO
ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE
ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN
AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S
PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES
FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE
OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS
RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE
SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.
(c)DGAP 07.09.2006
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