HOUSTON, TEXAS (January 2005) – Quintana Capital Group, L.P. today announced that Quintana Energy Partners, L.P. and its affiliated partnerships (collectively, "Quintana"), alongside co-investors, have organized Stone Mountain Resources Ltd. ("Stone Mountain" or the "Company") to pursue exploration and production opportunities in western Canada.
“Since 1999, Quintana has made two successful full turns on E&P investments in Canada,” stated Brock Morris, Quintana’s Managing Director, adding, “We are excited for the prospects of Stone Mountain and hope to create value through the drill bit.” Harvey Klingensmith, Stone Mountain’s President and Chief Executive Officer, commented, “Having worked in pursuit of opportunities with Quintana for several months now, I am pleased that we are formalizing our effort toward the purchase of an attractive platform asset in the Tenaka region.”
Stone Mountain is a gas exploration and production company in western Canada with an experienced management team led by Harvey Klingensmith. Stone Mountain focuses on relatively immature basins and builds scale by acquiring fields with drilling potential and by pursuing farm-ins with large companies and trusts. Stone Mountain’s initial acquisition was the Tenaka field from Tenergy, Ltd. Tenergy consists of Northeast British Columbia assets, formerly part of Purcell Energy, a Calgary, Alberta based exploration and production company.
Certain statements in this press release include statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," "plan," "should" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
Contact for Stone Mountain Resources Ltd.: Harvey Klingensmith President and Chief Executive Officer 403-815-8353
Contact for Quintana Capital Group, L.P.: Loren Soetenga Chief Operating Officer 713-751-7527
