RMP Energy Announces Board of Director Changes

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May 29, 2017

CALGARY, Alberta, May 30, 2017 (GLOBE NEWSWIRE) -- RMP Energy Inc. (“RMP” or the “Company”) (TSX:RMP) announces the appointment of three (3) new members to its Board of Directors (the "Board"). Jay P. McWilliams, Steven D. Oldham and Dean J.W. Bernhard have been appointed to the Board effective immediately. The Company's Board now consists of Joshua D. Young (Chairman), Jay P. McWilliams, Steven D. Oldham and Dean J.W. Bernhard, of which Messrs. Young, McWilliams and Oldham are independent directors.  RMP is also pleased to announce that Mr. Robert Colcleugh agreed to join the Board as an observer and intends to stand for election at the Company’s next annual shareholders meeting. The Company is in the process of identifying additional qualified individuals to join the Board.

Mr. McWilliams is the Founder and President of LOGOS Resources II, LLC, a premier oil and gas acquisition, development and exploitation company pursuing opportunities in the San Juan basin.  Prior to founding LOGOS, Mr. McWilliams was the lead acquisition engineer at Linn Energy, a Houston-based oil and gas company, where he led approximately $1 billion in successful transactions.  Mr. McWilliams previously held various engineering positions while working for Burlington Resources and Resolute Natural Resources and holds a Bachelor of Science Degree in Chemical Engineering with Honours from New Mexico Tech and an MBA from the Fuqua School of Business at Duke University. 

Mr. Oldham is an independent businessman and private investor with over 15 years of financial management experience in the oilfield service and construction industries.  From 2012 to 2015 he served as Vice President, Treasury and Investor Relations for McDermott International and from 1998 to 2011, he was Vice President and Treasurer for Pride International Inc., an offshore oil drilling company with offices in Houston, Texas until its acquisition by Ensco plc. Prior to joining Pride International, Mr. Oldham was a financial analyst with Salomon Brothers and Bank of America.  Mr. Oldham holds a Bachelors' degree in Business Administration from the University of Texas at Austin and an MBA from the University of Chicago Booth School of Business.

Mr. Bernhard is a Chartered Professional Accountant with 26 years of upstream oil and gas experience and is currently the Vice President, Finance and Chief Financial Officer of RMP. Mr. Bernhard holds a Bachelor of Commerce (Finance degree) from the University of Saskatchewan. Prior to his current role at RMP, Mr. Bernhard served as Vice President, Finance and Chief Financial Officer of Orleans Energy Ltd. between January 2005 and May 2011, at which time Orleans undertook a reverse take-over transaction by RMP. Mr. Bernhard began his career with Amoco Canada Limited and previously worked for Tarragon Oil and Gas Limited, Marathon Oil Canada Limited and E3 Energy Inc., in various financial and accounting capacities.

Mr. Colcleugh is currently the Chief Executive Officer of Beyond Energy Services & Technology Corp., a managed pressure drilling service company based in Calgary, Alberta. He is also a member of the Board of Directors of Tidewater Midstream and Infrastructure Ltd. Prior thereto, he was Managing Director of Investment Banking for Macquarie Capital Markets Canada Ltd. (a division of Macquarie Bank) from 2009 until January 2017. Prior thereto, he was one of the founders of Tristone Capital Inc., a global energy investment banking boutique that was purchased by Macquarie in 2009. Over the last 15 years Mr. Colcleugh has provided financing, mergers, acquisitions and divestiture advisory services to a broad array of energy companies in the domestic Canadian, international, midstream and technology industries. Prior to his involvement in capital markets, he managed Duke Energy’s Power business in Ontario and their capital business in Canada where he deployed the utility’s balance sheet and created structured products around natural gas and power streams for customers. Mr. Colcleugh holds a B.A. in Economics from the University of Western Ontario and a MBA from the University of Western Ontario’s Ivey Business School.

In conjunction therewith, the Company announces that Andrew L. Hogg, James M. Saunders, Craig W. Stewart and Lloyd C. Swift have resigned from RMP’s Board, effective immediately. The Company would like to express its appreciation to these individuals for their many years of service as Board members, providing invaluable stewardship and business acumen throughout their tenure.

RMP Energy Inc. is a Montney-focused crude oil and natural gas producer, based in Calgary, Alberta.  RMP's common shares trade on the Toronto Stock Exchange under the ticker "RMP".  For additional information on the Company, please visit RMP's website at:  www.rmpenergyinc.com.