Daybreak Oil and Gas Announces Management Changes

Daybreak Oil and Gas has announced that its independent director Tim Lindsey has accepted his appointment as president and CEO on an interim basis, effective immediately. Former CEO Eric Moe has resigned to return to his private business practice, while former president Robert Martin will continue in the position of senior vice president of exploration.

In addition, James Westmoreland will join Daybreak as interim CFO replacing Terrence Dunne who has resigned as CFO. Thomas Kilbourne, treasurer and controller, has resigned these positions and will continue in a non-executive role with the company.

Mr Lindsey was appointed to the board of directors in January 2007. He has previously worked in a number of management and executive positions with publicly-traded oil and gas companies including Marathon Oil Company and The Houston Exploration Company.

Mr Westmoreland was vice president and chief accounting officer for The Houston Exploration Company for 21 years until its acquisition by Forest Oil Company earlier this year.

Dale Lavigne, chairman of Daybreak Oil and Gas, said: “Daybreak is at a stage in its evolution as a startup oil and gas exploration company where it needs strong technical and financial management experience to bring the company to the next level of growth. Making these changes is the first step in creating a dynamic and competitive company within the oil and gas industry.”