|By Marketwired .||
|January 24, 2014 06:00 AM EST||
PLATTEVILLE, CO--(Marketwired - January 24, 2014) - Synergy Resources Corporation (the Company) (NYSE MKT: SYRG), a U.S. oil and gas exploration and production company focused in the Denver-Julesburg Basin, announces the following changes in corporate structure of its officers and executives from its January 22
William E. Scaff, Jr. has taken on the title of Co-Chief Executive Officer of the company which he will share with Ed Holloway as Co-Chief Executive Officer. Bill will remain Treasurer and both will remain Directors of the Company.
Craig Rasmuson has been elevated from Vice President of Operations to Chief Operating Officer. Craig joined Synergy in September 2008 and has been instrumental in the growth achieved by the Company.
Val Dunn has been promoted to Secretary and will assume those duties previously performed by William E. Scaff, Jr. and she will continue as Controller for the Company.
Bill Conrad, Director and Chairman of Compensation Committee, commented, "These changes in our officers and their responsibilities properly reflect the contributions and importance of these individuals to the Company. Bill Scaff & Ed Holloway joined Synergy as a team in 2008 and have been making the strategic decisions jointly since that time."
About Synergy Resources Corporation
Synergy is a Colorado-based independent exploration and production company focused primarily on the development of its assets in the Wattenberg Field in the Denver-Julesburg Basin ("D-J Basin") in Weld County, Colorado. In addition to the Company's Wattenberg Field acreage position, it has also assembled a 24,700 net acre leasehold position directly to the northeast of the Wattenberg Field (the "Northern Extension Area"), which Synergy believes to be prospective for the Niobrara and Greenhorn formations and large acreage leasehold in Eastern Colorado and Nebraska.
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). All statements other than statements of historical facts included in this press release regarding our financial position, business strategy, and plans and objectives of management for future operations and industry conditions, are forward-looking statements. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company's control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: general economic or industry conditions nationally and/or in the communities in which Synergy conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, the ability to raise capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting the Company's operations.
These forward-looking statements are based on current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Synergy's control.