Broe Affiliate Hires Three Former Samson Resources Company Executives

DENVER–(BUSINESS WIRE)–Rich Frommer, Jay Smith and Steve Stacy, three successful oil-and-gas executives, each of whom has worked in the industry for more than 25 years, were today named as President and Chief Executive Officer, Senior Vice President Engineering, and Senior Vice President Land, respectively, of the Great Western Oil & Gas Company, a firm that has grown in recent years to become a top producer in Colorado’s Denver-Julesburg Basin. The former Samson Resources Company executives join Great Western after completion of the successful sale of Samson assets for $7.2 billion to KKR.

“We are excited to have retained such a talented and experienced leadership team who will replicate at Great Western Oil & Gas Company the tremendous growth in assets realized at Samson,” said Pat Broe, founder of The Broe Group in 1972. “Rich, Jay and Steve will drive the continued growth of our Denver-Julesburg oil assets as well as identify new strategic opportunities.”

Great Western Oil & Gas Company, based in Denver, is an affiliate of The Broe Group.

Rich Frommer will be leading Great Western as President and Chief Executive Officer. Rich brings valuable leadership skills and extensive experience, having worked at Samson Resources Company and HS Resources. Most recently, Rich held the position of Senior Vice President in the Rocky Mountain division at Samson, where he devised and developed an organization starting from a four-man startup with an initial $200 million acquisition, into a $4 billion asset that was part of the largest private equity oil and gas buyout by KKR. He was responsible for the planning and implementation of annual capital budgets of $450 million, structured to provide a maximum rate of return. Rich managed more than 200 employees in the Denver headquarters and four field offices. Rich’s educational background consists of a Bachelor of Science degree in geology from New York State University and attendance at various executive programs through the SMU Cox School of Business.

Jay Smith, Senior Vice President Engineering, has more than 28 years of engineering experience. He has worked with well-known companies such as Conoco and Samson Resources Company. Jay has a proven history of growing assets and building motivated, high performance teams. He has a strong technical background in reservoir and production engineering. Most recently he managed a 25-person staff focused on the Powder River and Green River basins in Wyoming for Samson Resources Company. Jay was responsible for scheduling and profitability of a four-rig drilling program across both basins. In the span of Jay’s career, he has managed teams of geologists, engineers, geophysicists, and support staff. He is known for his expertise in evaluating deals and acreage purchases. Jay earned his Bachelor of Science degree in petroleum engineering from the University of Oklahoma.

Steve Stacy, Senior Vice President Land, has more than 25 years of Landman experience and has worked with well-known companies such as Amoco and Samson Resources Company. Steve has extensive land transaction experience, including acquisitions, divestitures, leases, swaps, JOAs, joint ventures, farm-ins, farm-outs and easements. He also has strong command over the land administrative function, having built the land function at Samson during a period of tremendous growth during the past several years. Steve has experience in multiple basins across the United States including Mid-Continent, East Texas, South Texas, the Anadarko Basin, the Denver-Julesburg Basin, Wyoming and the Williston Basin. An example of the growth that Steve has led is illustrated in Samson’s Bakken/Williston Basin acreage where he started from zero acres, growing it to more than 400,000 net acres (800,000 – 900,000 gross acres, including business partners) over the past several years. Steve earned his BBA degree in petroleum land management from the University of Oklahoma.

The Great Western leadership team will be located at 1700 Broadway, Suite 650. It will report directly to The Broe Group Ownership Board.

http://eon.businesswire.com/news/eon/20130204006537/en/The-Broe-Group/Great-Western-Oil-%26-Gas-Company/Rich-Frommer

Great Western Oil & Gas closes $62 million in debt financing

Denver, Colorado – June 9, 2011 – Great Western Oil & Gas Company, LLC, which is wholly owned by Northern Colorado Oil and Gas Holdings, LLC, closed $62 million in debt financing from DB Energy Trading, LLC a subsidiary of Deutsche Bank Americas Holding Corp. The new debt, which replaces Macquarie Bank Limited’s existing facility, was secured using a prepaid swap of oil and gas. The proceeds will allow acquisition of new mineral leases and fund ongoing operations.

Great Western Oil & Gas Company, LLC is an independent oil and gas production company headquartered in Denver. Its operations are focused on developmental drilling, and corporate and property acquisitions in the Rocky Mountain region of North America.

Great Western Oil & Gas Company is sponsored by The Broe Group, a Denver-based private investment firm focusing on real estate, transportation and energy.

Neal Stanley Honored as 2011 Wildcatter of the Year

Governor John Hickenlooper joins in commemorating Western oil and gas leader’s life-time achievements

(Denver) – Last night, Western Energy Alliance (formerly IPAMS) was joined by Colorado Governor John Hickenlooper in the unveiling of Neal Stanley as the 2011 recipient of its most prestigious award, Wildcatter of the Year.

The title Wildcatter of the Year is reserved only for the most elite leaders in the oil and gas industry whose entrepreneurial spirit and exploratory work in new fields have contributed significantly to America’s energy security and the betterment of society. The term “wildcatter” originates from the 1880s when independent speculators ranged across the West in hopes of discovering new or unproven oil reserves. The Wildcatter of the Year is not only a leader in industry, but a role model in the community as well, demonstrating leadership both on and off the oil and gas field. 2011 marks the 30th anniversary of this prestigious award.

With over thirty-five years in the industry, Stanley began his career with Amoco Corporation in 1975, one of the country’s largest oil companies at the time. He later joined Terra Resources/Pacific Enterprises as an engineer and rose to Regional Vice-President. Stanley also served as the Western Region Senior Vice-President of Forest Oil Corporation. In 1991, he founded Teton Oil & Gas Corporation where he presently serves as Owner, in addition to his role as Director at Great Western Oil and Gas.

A 2009 inductee of the Rocky Mountain Oil and Gas Hall of Fame, Stanley has served on the corporate board of Delta Petroleum, Pure Energy Services, and National Fuel Corporation, and volunteered for over twenty years on the Board of Directors for Western Energy Alliance. Stanley is a decorated U.S. Army veteran and continues to volunteer as a tour guide at the Vietnam Veterans Memorial in Washington D.C. He resides in Denver with his wife Marie Stanley.

“Our state’s future is bright because we have bold, visionary leaders like Neal Stanley,” said Governor John Hickenlooper. “Neal has dedicated his career to the energy industry, helping fuel job growth in Colorado and making our state a world-class provider of energy resources. He stands in great company as the latest Wildcatter of the Year.”

“Neal is a man of great character, achievement and humility. His vision, generosity and tireless efforts to foster community have blessed the West and our nation. He leads by serving; planting countless trees, under whose shade he will never rest,” said Marc W. Smith, Executive Director of Western Energy Alliance.

About the Award:

Nominations for Wildcatter of the Year are based on the unique contributions and accomplishments of one industry individual, particularly regarding: (1) successful longtime natural gas and oil exploration and production in the West, (2) community service, and (3) support of oil and natural gas industry activities and organizations.

The announcement was made during Western Energy Alliance’s annual Wildcatter Gala on April 30th held at the Denver Performing Arts Center. A “who’s who” of independent natural gas and oil producers in the West, over 650 oil and natural gas and community leaders attended the gala to join in congratulating Stanley on this lifetime achievement recognition.

Neal Stanley joins an elite group of Wildcatter of the Year recipients. Prior award winners include: H.A. True, Frederick Mayer, Samuel Gary, Thomas Vessels, James Wallace, William Goodin, Conley Smith, Harvey Yates, Wayne “Dusty” Biddle, George Anderman, William Barrett, Edward Ackman, John Snyder, George Fancher, Robert Bayless, Raymond Duncan, Robert Nance, Rex Monahan, Donald Wolf, F.H. “Mick” Merelli, Cortlandt Dietler, Thomas Petrie, Kenneth Luff, Harry Trueblood, William Ballard, Neil “Mick” McMurry, James Lightner and Peter Dea.

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About Western Energy Alliance

Western Energy Alliance, founded in 1974, is a non-profit trade association representing more than 400 companies engaged in all aspects of environmentally responsible exploration and production of oil and natural gas in the West. More information on Western Energy Alliance and its members is available at www.westernenergyalliance.org.

SOURCE: WESTERN ENERGY ALLIANCE

David Elliman Joins Advisory Board of Great Western Oil & Gas Company

DENVER, April 22, 2011 /PRNewswire/ — David Elliman, a founding principal and chief investment officer of the Elmrock Group of companies, has joined the board of advisors of Great Western Oil & Gas Company, an affiliate of The Broe Group that is a top 100 driller in the U.S. and the seventh largest oil producer in Colorado.

“It’s a great honor to work with someone like Pat Broe, who in my mind is a consummate businessman,” said Elliman. “Great Western Oil & Gas Company is growing and I’m thrilled to join its advisory board.”

The other members of the advisory board are former Colorado Gov. Bill Owens, managing director of Front Range Resources, and Neal Stanley, who serves on the board of the Western Energy Alliance.

“David Elliman brings tremendous business experience and sharp insights to the advisory board,” said Pat Broe, founder and CEO of The Broe Group. “I admire him and look forward to working together.”

“We’re extremely excited to have David as a member of our board,” said Mark DePuy, president and CEO of the Great Western Oil & Gas Company. “David brings a unique and diverse business and finance perspective to our company which will certainly help as we execute against our business plans and strive to reach our growth objectives.”

Elliman, who is based in New York, is a founding principal of the Elmrock Group of companies and is the chief investment officer. He is responsible for the asset portfolios of these companies and their clients. The group is comprised of Elmrock Capital, Inc., Elmrock Partners and Elmrock Management, and a number of specialty-purpose affiliates.

In addition to his work at Elmrock, he served as a director of Applied Signal Technology, Inc. from 1991 until its acquisition by Raytheon in February 2011, and served as director of Cap-MAC Holdings, Inc., until its merger with MBIA in 1998. Elliman serves as a Member of the Board at The New York State Energy Research and Development Authority (NYSERDA), and is a Trustee of The Jackson Laboratory.

He earned a B.A. in biology from the University of Pennsylvania, and M.S. in cell biology from the University of California, at Irvine, and an MBA in finance from the Wharton School. After graduating from Wharton in 1977, Elliman worked at Citibank N.A as a portfolio manager and a research analyst.

Great Western Oil & Gas Company is a privately-held independent exploration and production company with principal operations in the Colorado Denver-Julesburg (DJ) Basin and in the North Dakota Williston Basin. Great Western is an aggressive growth company engaged in the acquisition and development of oil and natural gas resources.

Great Western was founded in 2005 by The Broe Group, based in Denver, which also owns and manages a broad portfolio of real estate holdings throughout the U.S. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations throughout North America.

SOURCE Great Western Oil & Gas Company

GWOG Williston closes $22 million in debt financing

Denver, Colorado – March 4, 2011 – GWOG Williston, LLC, secured $22 million in debt financing from DB Energy Trading, LLC a subsidiary of Deutsche Bank Americas Holding Corp using a prepaid swap of oil. The debt will be available to GWOG Williston in two tranches, with the proceeds going toward distribution to ownership, operations and development of additional wells in the next two years.

Great Western Oil & Gas Company, LLC is an independent oil and gas production company headquartered in Denver. Its operations are focused on developmental drilling, and corporate and property acquisitions in the Rocky Mountain region of North America.

Great Western Oil & Gas Company is sponsored by The Broe Group, a Denver-based private investment firm focusing on real estate, transportation and energy.