Strategic American Oil Corporation Appoints Alan Gaines As Chairman And Amiel David As President
February 24, 2011; Corpus Christi, Texas; Strategic American Oil Corporation (OTCBB: SGCA; the “Company”) is pleased to announce it has appointed Alan Gaines as the new Chairman of the Board and Amiel David as President of the Company, effective February 15th, 2011. Mr. Gaines and Dr. David will also serve as members of the Board of Directors.
Alan Gaines has approximately 30 years experience as an energy investment and merchant banker. Presently he serves as Executive Chairman of the Board of Directors, and founder of Dune Energy, Inc. (DUNR.OB) and Dune Operating Company (a privately held oil and gas investment company domiciled in the State of Connecticut) since May 2001. Mr. Gaines also served as CEO of Dune Energy from inception through May 2007.
In 1983, he co-founded Gaines, Berland Inc., a full service investment bank and brokerage, specializing in global energy markets, with particular emphasis given to small to mid capitalization companies involved primarily in the exploration and production of oil and natural gas, as well as midstream (pipelines and transportation) and downstream (refining and marketing). In the three years prior to selling his personal stake in the company, Gaines, Berland acted as lead underwriter and/or participated in the placement of more than $3 billion of equity and debt securities.
Mr. Gaines holds a B.B.A. in Finance from Baruch College (CUNY) with a minor in Physics and an M.B.A. in Finance (“With Distinction-Valedictorian) from The Zarb School, Hofstra University School of Graduate Management.
Dr. Amiel David is experienced in energy related operations, management, investment banking/engineering with decision-making capabilities in a wide range of areas including corporate management, corporate banking, engineering, asset and corporate mergers/acquisitions/dispositions. Over forty years of corporate management, financial activities related to the upstream and midstream operations, exploration, production, and infrastructure both onshore and offshore.
Dr. David served as President and Chief Operating Officer of Dune Energy, Inc, a publicly traded oil and gas company based in Houston, Texas. He later served as a Senior Advisor to the Board of Directors of the company responsible to asset disposition activities. Prior to Dune Energy, Dr. David was Managing Director of Duke Capital Partners, a mezzanine provider to, and investor in upstream energy companies. He gained his banking experience through his employment as a senior Vice President of First Union Securities (Wells Fargo) and First City Bank.
Dr. David received a PhD as a Petroleum Engineer from Stanford, an MBA from the University of Pittsburg, an MSE in Chemical Engineering from the University of Pennsylvania and BS in Petroleum Engineering from the University of Tulsa. Amiel is a member of the SPE and SPEE technical societies; he authored several technical papers and was a recipient of several awards. He is a Registered Professional Engineer in Texas.
Strategic American Oil also accepted the resignation of Randall Reneau and Johnathan Lindsay as members of the Board of Directors. Mr. Lindsay will continue to serve as Chief Financial Officer, Secretary, and Treasurer. The Company appreciates the efforts of Mr. Reneau and Mr. Lindsay as members of the Board and wishes Mr. Reneau well in his retirement.
CEO Jeremy Driver stated, “We are very excited at Strategic American Oil to bring on board two highly qualified and exceptional professional such as Mr. Gaines and Mr. David. Strategic American Oil is committed to building a world class domestic oil and gas company, and Mr. Gaines and Mr. David are to be an integral part of that development. Mr. Gaines has an impressive 30 years experience with the Public sector and financial community while Mr. David has an unparalleled work experience and understanding of Galveston Bay Energy and its assets.”
About Strategic American Oil
Strategic American Oil Corporation (OTCBB: SGCA) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company’s team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential. Further information can be found on the Company’s website at www.strategicamericanoil.com.
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