HOUSTON, Oct. 13 /PRNewswire-FirstCall/ -- Mariner Energy, Inc. announces today that John H. Karnes will join Mariner on October 16, 2006, as its Senior Vice President, Chief Financial Officer and Treasurer. Mr. Karnes will replace Rick G. Lester who announced on June 29, 2006, his intended departure from Mariner and who has continued in his role at the company on a consulting basis.
Scott D. Josey, Mariner's Chief Executive Officer and President said, "John Karnes brings a rich complement of skills and a wealth of business experience to Mariner. I believe he will be a great addition to our management team."
Previously, Mr. Karnes was the Senior Vice President and Chief Financial Officer of The Houston Exploration Company from November 2002 through December 2005. Prior to his service at Houston Exploration, in 2002 he was Vice President and General Counsel for Encore Acquisition Company, a NYSE-listed exploration and production company. He served as Executive Vice President and Chief Financial Officer at Cybercash, Inc., a NASDAQ-listed software and services provider, from 2000 to 2001. He has served in other management roles at publicly-traded companies during his career, including positions at Snyder Oil Corporation and Apache Corporation. He is an attorney and practiced at the national law firm of Kirkland & Ellis, from 1987 to 1991, focusing on securities matters and mergers and acquisitions.
Mr. Karnes received his Bachelor of Business Administration degree in accounting, with honors, from the University of Texas at Austin and his Juris Doctorate, with honors, from Southern Methodist University School of Law.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, that address activities that Mariner assumes, plans, expects, believes, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. Our forward-looking statements are generally accompanied by words such as "may", "will", "estimate", "project", "predict", "believe", "expect", "anticipate", "potential", "plan", "goal", or other words that convey the uncertainty of future events or outcomes. The forward-looking statements provided in this press release are based on the current belief of Mariner based on currently available information as to the outcome and timing of future events. Mariner cautions that its future natural gas and liquids production, revenues and expenses and other forward-looking statements are subject to all of the risks and uncertainties normally incident to the exploration for and development and production and sale of oil and gas. These risks include, but are not limited to, price volatility or inflation, lack of availability of goods and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating future oil and gas production or reserves, and other risks as described in the Annual Report on Form 10-K for the fiscal year ended December 31, 2005, and other documents filed by Mariner with the Securities and Exchange Commission. Any of these factors could cause the actual results and plans of Mariner to differ materially from those in the forward-looking statements.
Investors are urged to read the Annual Report on Form 10-K for the year ended December 31, 2005 and other documents filed by Mariner with the Securities and Exchange Commission that contain important information including detailed risk factors. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Mariner.
About Mariner Energy, Inc.
Mariner Energy, Inc. is an independent oil and gas exploration, development and production company with principal operations in the Gulf of Mexico and West Texas. For more information about Mariner, please visit its website at http://www.mariner-energy.com/ .
