LAS VEGAS, Jan. 27, 2010 (GLOBE NEWSWIRE) -- In oil and gas, it appears two imperatives are most critical. Good ground and good geologists. Few deals will succeed without this pairing and the sound execution of the business model. For American Eagle Energy (OTCBB:AMZG), its legendary President Richard Findley may well deliver both.
For oil and gas watchers, Findley is the geologist widely credited with finding one of the most significant domestic discoveries in history, a find so prolific that the Wall Street Journal stated in a 2006 article that, "Findley discovered a new field that is now producing 48,000 barrels a day of high-quality crude oil from more than 300 wells. While oil companies have discovered bigger fields in Alaska and the Gulf of Mexico, this sizeable find is now the highest-producing onshore field found in the lower 48 states in the past 56 years."
Having Findley at the helm of American Eagle should certainly boost the confidence of shareholders in an oil and gas community where pedigrees and properties mean everything. Findley is reportedly moving quickly in Mississippi and future communication from American Eagle will better define the scope and expectation for this new Findley-led venture.
It is never enough to simply have the right geologist/president on board, but when an oil and gas legend like Richard Findley takes an interest in a specific area, one need only look at the successes of the past to enhance interest in the future. Given his role with American Eagle, it appears what we see from Findley will be through the conduit of a new public company trading under the symbol AMZG.
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