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Double Eagle Petroleum Co. has reported the election of Roy Cohee, a Company director since 2001, as Chairman of the Board of Directors of the Company, replacing Richard Dole.
Mr. Dole will continue to serve as the Company's President and Chief Executive Officer and on the Board of Directors of the Company. The Board determined that separating the offices of Chairman of the Board and Chief Executive Officer will facilitate the Board's active engagement in reviewing and setting the strategic direction of the Company. Sigmund Balaban will replace Mr. Cohee as chairman of the Compensation Committee of the Board.
Mr. Cohee is President of C & Y Transportation Co., based in Casper, Wyoming, a privately-held company focused on the transportation and storage of oil field equipment and supplies throughout the Western U.S. and Canada. Mr. Cohee served in the Wyoming Legislature from 1999 through 2010 in a variety of positions, including chairman of House Revenue, House Transportation and Highways, Select Committee on Local Government Finance, Capital Finance and Investments, Majority Floor Leader and Speaker of the House.
The Company has also commenced a search for a Chief Financial Officer of the Company. Kurtis Hooley, the Company's Chief Operating Officer, assumed the position of Chief Financial Officer upon the resignation of the prior Chief Financial Officer in August 2013. The Company believes that it needs to engage a new Chief Financial Officer so that Mr. Hooley can focus on operations. Mr. Hooley will work with the Chief Executive Officer of the Company in identifying and hiring his successor as Chief Financial Officer.
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