HOUSTON, Aug 31, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- W&T Offshore, Inc. (NYSE: WTI) today announced the appointment of Todd E. Grabois as Vice President and Treasurer.
Todd E. Grabois, age 46, was most recently Chief Financial Officer for Texas Independent Exploration LTD, from 2001 to 2006. Prior to joining Texas Independent, he was with Benz Energy, Inc. and Texstar Petroleum for 17 years, serving in various positions, including Treasurer and Secretary. Mr. Grabois has a B.S. in Accounting from the University of Delaware.
"I am very happy to announce Todd's appointment today," said Tracy W. Krohn, Chairman and Chief Executive Officer. "He brings us a wealth of industry experience and expert knowledge of financial and treasury matters. His talents will be an excellent addition to our finance department, particularly while our search for a permanent CFO remains ongoing. As the Company enters its next growth phase, we plan to continue to build on our capable team and be ready to seize the opportunities before us. As we remain focused on our goal to increase shareholder value, Mr. Grabois' expertise in treasury matters will help ensure our competitive position in the industry. I am pleased that the Board of Directors accepted my recommendation of Mr. Grabois."
About W&T Offshore
Founded in 1983, W&T Offshore is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deep water, where it has developed significant technical expertise. W&T has grown through acquisition, exploitation and exploration and now holds working interests in over 100 fields in federal and state waters and a majority of its daily production is derived from wells it operates. For more information on W&T Offshore, please visit its Web site at http://www.wtoffshore.com .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect our current views with respect to future events, based on what we believe are reasonable assumptions. No assurance can be given, however, that these events will occur. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, among other things, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditures, competition, the success of our risk management activities, governmental regulations and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2005 (http://www.sec.gov ).
Manuel Mondragon, Assistant VP of Finance
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SOURCE W&T Offshore, Inc.