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CREDO Petroleum Corporation (NASDAQ: CRED), a Denver, Colorado-based
independent oil and gas company, announced today that H. Leigh Severance
has been elected to the company’s Board of Directors. He joins the Board
as an independent director.
Mr. Severance is a significant CREDO shareholder and a seasoned
director. His career has primarily involved investing both for his own
account and as a portfolio manager and securities analyst for mutual
funds and investment advisory organizations. Mr. Severance owns
Severance Capital Management and he holds an MBA from the University of
Chicago Graduate School of Business. He is currently a member of the
board of directors of Ikonics Corporation (NASDAQ: IKNX) and of two
private companies.
Prior to forming Severance Capital Management in 1984, Mr. Severance was
employed by Cambiar Investors, Inc., an independent Denver-based
investment advisory firm. Previously, he served as portfolio manager of
Founder Growth Fund, portfolio manager of J.M. Hartwell and Company, and
as a securities analyst for the endowment fund at the University of
Rochester.
James T. Huffman, Chairman and CEO, stated, “Leigh Severance is a long
time CREDO shareholder who owns a significant stake in our company. In
addition to being a seasoned director, he brings an institutional
investment background to our Board as we consider options to attract
more institutional investors to CREDO’s stock. We are fortunate that
Leigh has agreed to serve on our Board. I know that he will be a strong
shareholder advocate because his interests are closely aligned with
those of our other shareholders.”
For more information about the company, visit http://www.credopetroleum.com.
This press release includes certain statements that may be deemed to
be “forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. All statements included in this
press release, other than statements of historical facts, address
matters that the company reasonably expects, believes or anticipates
will or may occur in the future. Such statements are subject to
various assumptions, risks and uncertainties, many of which are beyond
the control of the company. Investors are cautioned that any such
statements are not guarantees of future performance and that actual
results or developments may differ materially from those described in
the forward-looking statements. Investors are encouraged to read
the “Forward-Looking Statements” and “Risk Factors” sections included in
the company’s 2007 Annual Report on Form 10-K for more information.
Although the company may from time to time voluntarily update its
prior forward looking statements, it disclaims any commitment to do so
except as required by securities laws.