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Touchstone Resources USA, Inc. Names Stephen C. Haynes as Chief Financial Officer
Monday January 23, 5:00 pm ET
HOUSTON--(BUSINESS WIRE)--Jan. 23, 2006--Touchstone Resources USA, Inc. (OTCBB:TSNU - News; "Touchstone" or the "Company") is pleased to announce the addition of Mr. Stephen C. Haynes as Chief Financial Officer.
Mr. Haynes has extensive financial and business experience over the past 20 years in the petroleum and related industries. He has demonstrated a consistent record of responsibility, profit performance, and adherence to corporate goals and objectives. Mr. Haynes' strengths include developing and managing organizational control processes, development of corporate policies and procedures, and personnel management.
Mr. Haynes joins the company from Carrizo Oil and Gas where he served as Controller. He previously served in a series of increasingly responsible positions with British Gas, culminating in his appointments as Vice President-Finance of Atlantic LNG, a joint venture of British Gas and several industry partners in Trinidad and Tobago, W.I. Additionally, Mr. Haynes has provided business consulting services for a variety of oil and gas exploration, power generation, and pipeline companies.
Mr. Haynes is Certified Public Accountant, holds a Master of Business Administration degree with a concentration in Finance from the University of Houston and a Bachelor of Business Administration degree in Accounting from Sam Houston State University. He also attended the Executive Development Program at Harvard University.
Roger Abel, Chairman and Chief Executive of Touchstone, said, "We are very pleased to have someone of Mr. Haynes' caliber join our management team. As we continue to add to our portfolio of properties and our operations, Stephen's experience should help to make our growth as painless as possible. He is joining us at an ideal time for us to build our company."
Mr. Haynes stated, "This is the time for Touchstone to implement, refine, and execute well-managed financial and compliance programs throughout the company. I look forward to playing a leadership role in these areas as we step into the future."
ABOUT TOUCHSTONE RESOURCES
Headquartered in Houston, Texas, Touchstone Resources USA, Inc. is an oil and gas exploration and production company. Primarily a resource player, its key assets consist of shale acreage in Woodruff County, Arkansas and McIntosh County, Oklahoma, and it also owns a variety of producing and non-producing oil and gas assets in Texas, Louisiana, Mississippi, and New Zealand. Since August 2005, Touchstone has made significant changes in its management, Board of Directors, and the nature of oil and gas assets acquired to better equip itself for future growth as a company.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. All statements other than statements of historical fact contained herein, including without limitation, statements regarding the Company's future financial position, business strategy, activity, budget, projected revenues, projected costs and plans and objectives of management for future operations are forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," "may," "will," "should," "could," or "would," the negative of such terms or similar expression are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to management pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events, or financial position to differ materially from those included within the forward-looking statements. These factors include but are not limited to our ability to identify, acquire and develop oil and gas properties, our assumptions about reserve prospects, the availability of capital resources, the price of oil, natural gas and other products and services, drilling risks, future processing volumes, and pipeline throughput as well as those factors set forth in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Contact:
Touchstone Resources USA, Inc., Houston
Gerald Walrath, 713-784-1113
jwalrath@touchstonetexas.com
www.touchstonetexas.com
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Source: Touchstone Resources USA, Inc.