Lilis Energy Announces Appointment of Joseph C. Daches as Chief Executive Officer
13 Novembre 2019 - 12:00PM
Lilis Energy, Inc. (NYSE American: LLEX), an exploration and
production company operating in the Permian Basin of West Texas and
Southeastern New Mexico, announced that Joseph C. Daches has been
appointed Chief Executive Officer.
Mr. David Wood, Chairman of the Board of
Directors of the Company, commented, “Joe has done an exceptional
job while serving as Interim CEO, and the Board of Directors has
full confidence in him to lead the Company going forward. The Board
of Directors conducted an extensive search for a CEO with a leading
search firm but ultimately found that the work Joe has done with
his new team proved that he is a great fit for the CEO
position.”
“I am honored and excited to continue leading
the Lilis team. Over the past two quarters, I have reevaluated all
aspects of the Company and identified many measures that I believe
will position the Company for future success, growth, and long-term
value creation. We have already begun to successfully implement a
number of these objectives, resulting in cost reductions, increased
returns on capital deployed, and a new level of operational
efficiency and excellence Company wide. I look forward to
continuing my efforts to enhance Lilis Energy,” said Mr.
Daches.
Mr. Daches, who joined Lilis Energy in 2016, has
over 25 years of experience and expertise in directing strategy and
finance in primarily small and mid-size oil and gas companies. Mr.
Daches has helped guide several oil and gas companies through
financial strategy activities, capital raises, and both public and
private offerings.
About Lilis Energy, Inc.Lilis
Energy, Inc. is a Fort Worth based independent oil and gas
exploration and production company that operates in the Permian’s
Delaware Basin, considered among the leading resource plays in
North America. Lilis’ current total net acreage in the
Permian Basin is approximately 20,000 acres. Lilis Energy's
near-term E&P focus is to grow current reserves and production
and pursue strategic acquisitions in its core areas. For more
information, please visit www.lilisenergy.com.
Forward-Looking Statements:This
press release contains forward-looking statements within the
meaning of the federal securities laws. Such statements are subject
to a number of assumptions, risks and uncertainties, many of which
are beyond the control of the Company. These risks include, but are
not limited to, our ability to replicate the results described in
this release for future wells; the ability to finance our continued
exploration, drilling operations and working capital needs; all the
other uncertainties, costs and risks involved in exploration and
development activities; and the other risks identified in the
Company’s Annual Report on Form 10-K and its other filings with the
Securities and Exchange Commission. Investors are cautioned
that any such statements are not guarantees of future performance
and that actual results or developments may differ materially from
those projected in the forward-looking statements. The
forward-looking statements in this press release are made as of the
date hereof, and the Company does not undertake any obligation to
update the forward-looking statements as a result of new
information, future events or otherwise.
Contact:Wobbe PloegsmaV.P.
Finance & Capital Markets210-999-5400, ext. 31
Lilis Energy (AMEX:LLEX)
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