H. Leigh Severance Joins CREDO Petroleum Board of Directors
November 24 2008 - 7:00AM
Business Wire
CREDO Petroleum Corporation (NASDAQ: CRED), a Denver,
Colorado-based independent oil and gas company, announced today
that H.�Leigh Severance has been elected to the company�s Board of
Directors. He joins the Board as an independent director. Mr.
Severance is a significant CREDO shareholder and a seasoned
director. His career has primarily involved investing both for his
own account and as a portfolio manager and securities analyst for
mutual funds and investment advisory organizations. Mr. Severance
owns Severance Capital Management and he holds an MBA from the
University of Chicago Graduate School of Business. He is currently
a member of the board of directors of Ikonics Corporation (NASDAQ:
IKNX) and of two private companies. Prior to forming Severance
Capital Management in 1984, Mr. Severance was employed by Cambiar
Investors, Inc., an independent Denver-based investment advisory
firm. Previously, he served as portfolio manager of Founder Growth
Fund, portfolio manager of J.M. Hartwell and Company, and as a
securities analyst for the endowment fund at the University of
Rochester. James T. Huffman, Chairman and CEO, stated, �Leigh
Severance is a long time CREDO shareholder who owns a significant
stake in our company. In addition to being a seasoned director, he
brings an institutional investment background to our Board as we
consider options to attract more institutional investors to CREDO�s
stock. We are fortunate that Leigh has agreed to serve on our
Board. I know that he will be a strong shareholder advocate because
his interests are closely aligned with those of our other
shareholders.� For more information about the company, visit
http://www.credopetroleum.com. This press release includes certain
statements that may be deemed to be �forward-looking statements�
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements included in this press release, other than
statements of historical facts, address matters that the company
reasonably expects, believes or anticipates will or may occur in
the future. Such statements are subject to various assumptions,
risks and uncertainties, many of which are beyond the control of
the company. Investors are cautioned that any such statements are
not guarantees of future performance and that actual results or
developments may differ materially from those described in the
forward-looking statements. Investors are encouraged to read the
�Forward-Looking Statements� and �Risk Factors� sections included
in the company�s 2007�Annual Report on Form 10-K for more
information. Although the company may from time to time voluntarily
update its prior forward looking statements, it disclaims any
commitment to do so except as required by securities laws.
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