Dejour Energy, the domestic hydrocarbon developer with some 129k net acres in the Piceance and Uinta basins of Colorado and Utah, as well as another 8.5k net acres in the Peace River Arch area of British Columbia and Alberta, today reported tapping 30-year industry management and finance veteran David Matheson for the CFO position.
CEO and Co-Chairman of DEJ, Robert Hodgkinson, conveyed the enthusiasm of the entire Dejour team in welcoming Matheson, whose reputation within the oil and gas sector precedes him, to the company at what is a most "pivotal time" in its development. With production ramping up across the portfolio at DEJ, a seasoned pro like David will be instrumental in assembling the capital base needed to fully realize the potential of the company's continuously expanding resource footprint.
Matheson brings an impressive track record in managerial and finance work to the DEJ team, having held numerous similar positions throughout the sector, like the CFO position over at Canadian hydrocarbon developer Equatorial Energy Ltd., where he excelled to the point that he became president of the company. The progression says it all about David's stewardship, from its humble start up, through to a TSX listing and market cap exceeding $400M, finally eventuating in sale to fellow Canadian energy developer Resolute Energy.
Matheson also founded the successful private oil and gas firm Java Petroleum Corp., which saw heavily focused activity in the Western Canadian Sedimentary Basin that cuts through Alberta, BC, and Saskatchewan, acting also as President and CEO of that outfit. Again a successful over watch by Matheson which eventuated in a good sale, in that case to the TSX-listed Southern Pacific Resources Ltd.
The recent (Jan 2) securing of $6.5M in non-dilutive financial backing by a local, private, Denver-based drilling fund to help complete the first four wells on their 2.2k acre Kokopelli field development project in the Piceance, which has ideal structural positioning for Williams Fork/Mancos production, is a huge lead-in for Matheson and he clearly has his work cut out for him. Matheson will be straining at the reins to tackle the broad, emerging production front line DEJ has put together, with some learned strategies right out of the gate.
Management is banking on Matheson's time-tested ability to produce results and eyes his extensive communication skills, as well as proficiencies for navigating the complex financial circuits of the industry, with great anticipation. Hodgkinson made particular note of how impressed he was by the "significant business successes" achieved in the past with Matheson and how much he looked forward to doing it again, this time across the spectrum of core projects currently in the company's E&P hopper. Matheson is being tagged here not only for his solid track record but also a first-hand proven ability to innovate on the fly.
Hodgkinson also saluted outgoing CFO, Mathew Wong, whose dedicated service to the company was remarked as having helped bring DEJ to this momentous phase in its evolution, ever since its start up reactivation back in 2004. Matheson, who looks quite able to fill the CFO shoes amply, is a graduate of the University of British Columbia and was admitted into the Institutes of Chartered Accountants (BC/Canada/Northwest Territories) back in 1975.
For more information on Dejour Energy, visit Dejour.com
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