Attached files
Exhibit
99.1
Northern
Oil and Gas, Inc. Announces Executive Realignment
WAYZATA,
MINNESOTA --- March 25, 2010 --- Northern Oil and Gas, Inc. (NYSE/AMEX: NOG)
(“Northern Oil”) today announced the appointment of two new executive officers
and the promotion of Ryan R. Gilbertson to President. Mr. Gilbertson
co-founded Northern Oil with Chief Executive Officer Michael L. Reger in 2006
and has served as a director and Chief Financial Officer since Northern Oil’s
inception. Chad D. Winter has been promoted to succeed Mr. Gilbertson
as Northern Oil’s Chief Financial Officer. Mr. Winter previously
served as Vice President of Operations and joined Northern Oil in
2007. James R. Sankovitz has been appointed to the position of Chief
Operating Officer, General Counsel and Secretary. Mr. Sankovitz
joined Northern Oil as General Counsel in 2008.
These
appointments are intended to more closely align each officer’s position with his
day to day responsibilities. Michael Reger will remain Chief
Executive Officer and Chairman with no change in his role in Northern Oil's
operations.
Northern
Oil’s Chief Executive Officer—Michael L. Reger—commented, “We believe these
officer appointments and promotions position us to better scale and execute our
growth strategy, while aligning titles and day to day responsibilities most
accurately. We are happy to have the executive team of Northern Oil
together and focused on creating further long-term value for our
shareholders.”
ABOUT
NORTHERN OIL AND GAS
Northern
Oil and Gas, Inc. is an exploration and production company based in Wayzata,
Minnesota. Northern Oil's core area of focus is the Williston Basin,
specifically the Mountrail County, North Dakota area Bakken and Three
Forks/Sanish trend. Northern Oil's secondary objective is conventional, 3D
driven, oil and gas exploration and development throughout the Rocky Mountain
region.
More
information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.
SAFE
HARBOR
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 report regarding our financial position,
business strategy, plans and objectives of management for future operations,
industry conditions, and indebtedness covenant compliance are forward-looking
statements. When used in this report, 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 our 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 our company conducts business, changes in the
interest rate environment, legislation or regulatory requirements, conditions of
the securities markets, our 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 our company’s operations, products, services and
prices.
We have
based these forward-looking statements on our current expectations and
assumptions about future events. While our 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 our control.
CONTACT:
Investor
Relations
772-219-7525