PSTRQ PostRock Energy Corporation (CE)

PostRock Energy Corporation (Nasdaq:PSTR) today announced that its Board had elected Terry W. Carter as its President and Chief Executive Officer. As previously announced, Terry was elected interim President and CEO in July. Terry brings over thirty years of oil and gas industry experience to his role. Over the past five months, the Board has been delighted with all that Terry has been able to achieve. Simultaneously, the Company announced that David Klvac, its Executive Vice President and Chief Accounting Officer, had agreed to assume the additional role of Chief Financial Officer. Mr. Klvac replaces Jack Collins in that role. Jack Collins recently resigned to join Denbury Resources Inc. as Executive Director of Investor Relations.  

Prior to joining PostRock, Mr. Klvac served as a financial consultant for Sirius Solutions, LLLP, as Vice President and Corporate Controller of Tronox Incorporated and as Assistant Corporate Controller of Smithfield Foods, Inc. Prior to joining Smithfield, he served as Manager of External Financial Reporting for MidAmerican Energy Holdings Company. Mr. Klvac holds a BA in accounting from the University of St. Thomas in Houston.

Commenting on the announcement, Terry Carter said, "We are very pleased to have David Klvac assume the role of CFO. Since joining the Company in 2009, David has built a strong accounting team and spearheaded a number of key initiatives that have reduced costs and improved operational efficiency. We are confident he will excel in his new role."

"While we are delighted to have promoted David, we regret the loss of Jack Collins. During his four years at PostRock, Jack played a vital role in strengthening our capital structure, resolving material issues inherited from prior management, and positioning us to begin to execute a strategy of consistent growth and profitability. We thank Jack for his leadership and dedication and wish him the very best in his new position."

PostRock Energy Corporation is engaged in the acquisition, exploration, development, production and transportation of oil and natural gas, primarily in the Cherokee Basin of Kansas and Oklahoma. The Company owns and operates over 3,000 wells and nearly 2,200 miles of gas gathering lines in the Basin. It also owns a 1,120 mile interstate natural gas pipeline, which transports natural gas from northern Oklahoma and western Kansas to Wichita and Kansas City.

The PostRock Energy Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7221

CONTACT: Company Contact
         North Whipple
         Manager, Corporate Development & Investor Relations
         (405) 702-7423