Woodbine Acquisition Corporation Announces Management Changes and Investor Conference Call

FORT WORTH, Texas--()--Woodbine Acquisition Corporation ("WAC" or the "Company") announced today that Morris B. “Sam” Smith has left his positions as the Company’s Chief Executive Officer and President and a member of the Company’s Board of Directors and has accepted the position of President of Richland Resources Corporation, a significant investor in WAC. Ali Ahmed, who has served as the Company’s Chief Financial Officer and Treasurer and a member of the Company’s Board of Directors, has been named Chief Executive Officer and President of the Company.

Harry Quarls, Chairman of the Board of Directors of the Company, stated, “On behalf of the WAC Board I would like to thank Sam for his contributions to WAC. He has been a dedicated leader of the Company and played a crucial role in the Company’s financing and operational efforts. He leaves WAC with our best wishes for the future."

Mr. Smith stated, “It has been a privilege to work daily with the talented and committed people of WAC. I believe the Company is well-positioned for future success and that Ali will be a highly effective leader. In light of my background in finance and consulting, and taking into account the capable team in place at WAC, I have made the personal decision to pursue new opportunities. I look forward to assisting in the leadership transition.”

Mr. Ahmed stated, “I am honored to assume the role of CEO and President of the Company. We will continue to focus on our strategy of identifying and developing proven, undercapitalized plays and maximizing the cash flow potential of our assets through horizontal redevelopment. We have an excellent team in place to implement this strategy.”

Prior to Mr. Ahmed’s employment as Chief Financial Officer and Treasurer of the Company, he served as Chief Financial Officer of O’Brien Resources, LLC and held positions in energy banking for approximately nine years. Mr. Smith will provide consulting services to the Company for 60 days after his departure to assist with transition matters.

The Company also announced today that Michael Ricketts has been named Interim Chief Financial Officer and Treasurer of the Company. Mr. Ricketts previously served as Controller of the Company, and prior to his employment with the Company, held senior finance positions at other energy companies.

The Company will host a conference call for investors to discuss the management changes, the WAC financial report for the quarter ended June 30, 2011 and an operations update on Wednesday, August 17, 2011, at 11:00 a.m. Eastern Time. Participants will be provided conference call dial-in information via e-mail on August 12, 2011. If you do not receive the dial-in information, please contact the individuals below.

About Woodbine Acquisition Corporation

Woodbine Acquisition Corporation is an oil and natural gas company engaged in the acquisition, development, exploitation and production of crude oil and natural gas properties in Texas.

Contacts

Woodbine Acquisition Corporation
Ali Ahmed, 817-332-7400
ali.ahmed@woodbineacq.com
or
Michael Ricketts, 817-332-7400
mike.ricketts@woodbineacq.com

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Contacts

Woodbine Acquisition Corporation
Ali Ahmed, 817-332-7400
ali.ahmed@woodbineacq.com
or
Michael Ricketts, 817-332-7400
mike.ricketts@woodbineacq.com