Lucas Energy Inc. has reported two key additions to its leadership team.
Effective June 24, 2013, Mr. Fred S. Zeidman was appointed a member of the Board of Directors and will serve as a member of the Audit and Compensation Committees. In addition, on June 10, 2013, Mr. Michael M. Sagan joined the Company as Vice President of Operations.
"We are proud to have added two very talented and experienced individuals to our team, along with other operations personnel in our Gonzales office," said Anthony C. Schnur, Chief Executive Officer of the Company, who continued, "The 'new' Lucas is highly-focused on building asset value and shareholder value, and we have added key people who will help lead us toward our objectives.
"Fred is a prominent energy expert and has significant experience serving as a director of both public and private companies. He has proven to be an innovative leader in each of his roles and has substantial understanding of the oil and gas industry, in general. We welcome the valuable perspective and insight he will add to our organization. Fred is an excellent addition to our Board and we look forward to working with a person of his qualifications, experience and reputation."
"Mike, as a petroleum engineer and operations manager, has a solid foundation in the coordination of office and field operations and brings in-depth knowledge and experience in drilling, completion and production technology to our management team. Due to his diverse background of work experience, Mike will be able to foster interdepartmental teamwork and group efforts. Additionally, Mike is proficient in generating intuitive ideas that will optimize expenditures and solve engineering problems."
Fred S. Zeidman
Mr. Zeidman has served as Chairman of the Board of Directors of Petroflow Energy Corporation since September 2011 and as Director of Petro River Oil Corporation since April 2013. Mr. Zeidman has also served as a director of Hyperdynamics Corporation since 2009 and as a director of Prosperity Bancshares, Inc. since 1986. He currently also serves as trustee for the AremmiSoft Liquidating Trust (a position he has held since 2004). In March 2013, Mr. Zeidman was appointed to the Board of Straight Path Communications, Inc. In March 2008, Mr. Zeidman was appointed the Interim President of Nova Biosource Fuels Inc., a publicly-traded biodiesel technology company, and served in that position until the company's acquisition in November 2009. Mr. Zeidman also served as a director of Nova from June 2007 to November 2009. From August 2009 through November 2009, Mr. Zeidman served as Chief Restructuring Officer for Transmeridian Exploration, Inc. and served in that position until its sale in November 2009. He also served as CEO, President and Chairman of the Board of Seitel Inc., an oil field services company, from June 2002 until its sale in February 2007. Mr. Zeidman served as a Managing Director of the law firm Greenberg Traurig, LLP from July 2003 to December 2008. Mr. Zeidman has served as CEO, Interim CEO and Chairman of the Board of a variety of companies, including several in the oil and gas sector. Mr. Zeidman also sits on the boards of numerous non-profit organizations. He received his Bachelor of Science and Bachelor of Arts from Washington University and a Masters of Business Administration from New York University.
Michael M. Sagan
Mr. Sagan has 38 years of experience and has held various supervisory, management and operating positions in engineering, drilling, production, and completion activities at both publicly-traded and privately-held oil and gas companies operating in many oil and gas basins of the United States. Prior to joining Lucas Energy, Mr. Sagan served as the Engineering and Operations Manager of Layline Petroleum in Houston, where he supervised all drilling, completion, facilities and production operations in Texas, Louisiana and North Dakota. He also has vast experience drilling horizontal wells with fracture stimulation techniques in the Austin Chalk and Barnett, Woodford and Fayetteville shales. Mr. Sagan has also successfully drilled and completed high-pressure wells in the Frio, Wilcox, Bol Mex and Yegua formations in the Gulf Coast region. His past experience has been with Hallwood Petroleum, Aspect Energy, Presidio Exploration and Tenneco Oil. He also has been an operations consultant to Encana Oil & Gas and Credo Petroleum in the early 2000's. Mr. Sagan received a B.S. in Petroleum Engineering from Pennsylvania State University.
