HOUSTON, TX — (Marketwire) — 05/07/12 — NDB Energy, Inc. (OTCQB: NDBE) (PINKSHEETS: NDBE), an emerging independent oil and gas company, today announced that Rhonda B. Rosen has joined the company as Chief Financial Officer, effective immediately.
Ms. Rosen brings more than 25 years of experience leading high performing financial and operational teams, which she plans to leverage to support the company–s growth in oil and gas exploration.
“Rhonda will lead our financial function as we continue to strengthen our foothold in the Niobrara shale formation, an area emerging as a lucrative oil play,” said James J. Cerna, President and CEO of NDB Energy, Inc.
As the newest addition to the management team, Ms. Rosen joins NDB Energy at a pivotal time in the company`s development following its recently completed acquisition of Armada Oil, Inc. This major growth deal added 25,000+ acres of prime acreage in the Niobrara formations in Carbon Country, Wyoming to the company–s existing footprint in the Eagle Ford shale play in Texas. To date, the company has acquired 1,280 acres in the Niobrara along with the integral 2D seismic and engineering data, with an option to purchase the additional 23,700+ acres.
“Believing the Niobrara will provide a sustained drilling and production boom akin to the Bakken shale in North Dakota, numerous independent companies, including Andarko Petroleum, EGO Resources, Marathon Oil and Noble Energy, among others, are in a land rush to increase their acreage position,” added Cerna. “The scope of NDB Energy–s unconventional oil play in the area is unprecedented, thanks to our ability to secure acreage at an early stage, strategically located near existing infrastructure including oil and natural gas pipelines, oil refineries and gas processing plants as well as various production oil and natural gas fields. We will benefit greatly from Ms. Rosen–s proven experience igniting growth and I am confident in her ability to support NDB Energy as it seeks to secure assets with high potential for value in previously un-tapped Niobrara plays.”
Ms. Rosen earned her Master of Business Administration (MBA) in Finance and Accounting and her Bachelor of Science (BS) in Economics from The Wharton School of Business at the University of Pennsylvania, where she graduated summa cum laude. She received her Master of Science (MS) in Taxation degree from Fox School of Business at Temple University. A Certified Public Accountant, Ms. Rosen holds numerous licenses with the Financial Industry Regulatory Authority (FINRA) including General Securities Principal and Financial Operations Principal.
Most recently, she held the position of Treasurer, Chief Financial Officer and Chief Administrative Officer of Tonix Pharmaceuticals Holding Corp. and its wholly owned subsidiaries. Ms. Rosen also serves as partner at Tatum, an executive services firm, where she provides executive level financial consulting.
She has a solid foundation in the fields of financial operations, reporting and controls, investment banking and asset management, that has allowed her to flourish throughout her more than two decades of experience with companies including Pricewaterhouse Coopers LLP, Validus Pharmaceuticals (Treasurer and CFO), Wood Creek Capital Management (SVP), Putnam Lovell NBF (Managing Director) and CIBC World Markets (formerly Oppenheimer & Co.) (Managing Director), among others.
NDB Energy, Inc. is an emerging independent oil and gas company, exploring, developing, producing, and marketing crude oil and natural gas from various known prolific and productive geological formations. NDB Energy, Inc. is focused on building and developing a portfolio of oil and gas assets by acquiring undervalued, underdeveloped and underperforming properties, with the prospect of increasing production in an economical and profitable manner. NDB Energy, Inc. recently acquired Armada Oil, Inc., which holds interests in and around the Laramie and Hanna Basins in Southern Wyoming that includes a 25,000+ acre site in the Niobrara formation. To date, Armada Oil, Inc. has acquired 1,280 acres, engineering data, 2D seismic and has an option to purchase an additional 23,700+ acres.
Legal Notice Regarding Forward-Looking Statements
Forward-looking statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward-looking statements are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company–s actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company–s ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company–s periodic filings filed from time to time with US Securities and Exchange Commission at .
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Jerry Schranz
Beckerman
201-465-8020