MIDLAND, Texas, June 9, 2010 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (OTCBB:BROE) ("Baron" or the "Company"), an independent oil and gas company, announced today that it has engaged Bullfrog Capital, Houston, Texas to assist the Company with its extensive funding and financing initiatives.
Management Comments
Ronnie L. Steinocher, President and CEO of Baron Energy, commented; "Since 2002, Bullfrog Capital has assisted clients with more than $350 million of successful transactions and capital arrangement. A large part of this experience has been focused on the oil and gas industry. Bullfrog Capital will assist the Company with transaction and capital advisory services."
Mr. Steinocher also noted; "We have a number of significant funding initiatives ongoing in support of our high growth business plan. The pace at which we can increase our production and revenue is largely dependent on our ability to source funds in support of producing property acquisitions, drilling programs, and production enhancement projects. This partnership will provide a high level of professional assistance to our various funding initiatives and help keep our business plan on target."
About Baron Energy, Inc.
Baron Energy (OTCBB:BROE) is an independent oil and gas production, exploitation, and exploration company headquartered in Midland, Texas with producing assets in the prolific oil producing Permian Basin of West Texas.
Baron owns production that is 99% oil, both operated and non-operated, with working interest ranging from 5% to 100% in oil and gas fields located in Baylor, Borden, Garza, Jones, Runnels, Scurry and Taylor Counties, Texas.
Baron's growth strategy centers on making accretive property acquisitions in its core operating area. The Company targets properties that have oil production with upside developmental potential.
For more information, please visit www.baronenergy.com.
About Bullfrog Capital
Bullfrog Capital is an independent consulting group that continues to provide advisory services to assure successful transactions, capital arrangement, and ongoing facilities management.
Bullfrog Capital was founded and managed by Rick Adams. Prior to forming Bulldog Capital in 2002, Mr. Adams spent eight years in the oil and gas finance market with The Williams Companies and then Aquila Energy Capital. These transactions included volumetric production payments, mezzanine debt, equity investments and securitizations. Mr. Adams holds a BBA in economics and statistics from Baylor University and an MBA in finance from the University of Saint Thomas, Houston.
Forward-Looking Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "potential," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Baron Energy, Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov, including the Company's Annual Report on Form 10-K filed on October 29th, 2009. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.