EXHIBIT 99
[ THREE FORKS LOGO ]
FOR IMMEDIATE RELEASE
June 17, 2014
THREE FORKS, INC. APPOINTS TERRENCE MANNING PRESIDENT AND CHIEF OPERATING
OFFICER REPLACING RETIRING CHUCK POLLARD
POLLARD TO REMAIN ON BOARD AND WORK CLOSELY WITH MANNING TO ENSURE SMOOTH
TRANSITION
Broomfield, CO - Three Forks, Inc., an independent oil and gas exploration and
production company with operations and assets in Colorado, Texas, Oklahoma and
Louisiana, today announced the appointment of oil and gas industry veteran
Terrence R. Manning, P.E., as President and Chief Operating Officer. Manning
replaces Chuck Pollard, who is retiring from his executive positions but will
remain a member of Three Forks' Board of Directors.
Ed Nichols, Executive Chairman, said, "We are fortunate to have attracted Terry
Manning to Three Forks following Chuck Pollard's decision to retire from
day-to-day executive duties. Terry is a highly accomplished oil and gas
executive with deep experience in critical aspects of the business, including
reservoir engineering, asset acquisition and capital project management. We
appreciate Chuck Pollard's contribution to our growth and look forward to a
continuing relationship with him during the transition phase and ongoing as an
active member of our Board."
Mr. Manning brings to Three Forks, Inc. more than 33 years of diversified oil
and gas experience. He began his career with Amoco Canada and Amoco Production
Company (1980), where he spent 16 years in asset exploitation, petroleum
engineering and management. Subsequent assignments included professional
technical consultancy with Petroleum Analysis & Consulting (from 1998 to 2003),
where he provided advisory services involving reservoir engineering,
acquisitions and divestitures, and asset value optimization; Vice-President of
asset transactions with Tristone Capital Advisors (three years); General Manager
of D&J Oil Company (two years), where he was responsible for all company
operations including drilling and completions, reservoir engineering, reserve
analysis and economic assessment; Asset Manager and Advisor to the CEO of
Platinum Energy Resources (16 months) with direct responsibility for asset
optimization - planning and execution, property and reserve valuation and
implementation of capital projects; Senior Vice President and Senior Reservoir
Engineer with BBVA Compass Bank (25 months); and Senior upstream technical
advisor to numerous oil and gas industry clients.
Manning holds a Chemical Engineering Degree from the University of Calgary
(1980). He is a Professional Certified Engineer with the Association of
Professional Engineers, Geologists and Geophysicists in Alberta, Canada, and a
member of the Society of Petroleum Evaluation Engineers, the American
Association of Petroleum Geologists, and the Society of Petroleum Engineers.
"I am pleased to join Three Forks at this pivotal time in the Company's
development," said Manning. "I have known Chuck Pollard for many years and look
forward to working with him and the rest of the Three Forks team to optimize
current assets and to identify and fund new projects that fit the Company's
strategy of acquiring lower risk, long-lived oil producing assets that generate
stable cash flows."
ABOUT THREE FORKS, INC.
Three Forks, Inc. is an independent energy company engaged in acquiring,
exploring, developing and producing crude oil and natural gas primarily in the
western United States. The Company is led by a seasoned team of executives with
deep experience in the energy industry and capital formation. Three Forks has
interests in producing wells in Oklahoma, Texas and Louisiana and is actively
pursuing drilling programs in those areas. In addition, the Company is pursuing
numerous opportunities in prolific oil producing regions, especially in areas
where the team has operational or technical expertise. The Company is focused on
building a portfolio of lower risk, long-lived oil producing assets that
generate stable cash flows. Three Forks is headquartered in Broomfield,
Colorado.
FORWARD-LOOKING STATEMENTS
This news release includes statements that may constitute "forward-looking"
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Forward looking statements are statements
that are not historical facts and are generally, but not always, identified by
word such as "expects," "plans," "anticipates," "believes," "intends,"
"estimates," projects," "potential" and similar expressions. Forward-looking
statements in this document include statements regarding the Company's plans and
expectations for future drilling; expectations that the Company can fund
anticipated capital projects; and expectations regarding recoveries. Factors
that could cause or contribute to such differences include, but are not limited
to, fluctuations in the prices of oil and gas, uncertainties inherent in
estimating quantities of oil and gas reserves and projecting future rates of
production and timing of development activities, competition, operating risks,
acquisition risks, liquidity and capital requirements, the effects of
governmental regulation, adverse changes in the market for the Company's oil and
gas production, dependence upon third-party vendors, and other risks detailed
from time to time in the Company's reports filed with the Securities and
Exchange Commission.
Contact:
Terry Manning, President
303-404-2160