Contango Announces the Appointment of Two New Directors

FORT WORTH, Texas, April 29, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced the appointment of Karen Simon and Janet Pasque to its Board of Directors (the “Board”) effective immediately. Ms. Simon brings extensive experience in investment banking and corporate finance, particularly in capital markets and private equity, to the Contango Board. In addition, Ms. Pasque adds immense knowledge to the Board due to her long-tenure in the oil and gas industry, especially in business development and land.

Mses. Simon and Pasque’ wide-ranging knowledge will foster the Company’s drive to be a market leader in ESG initiatives. As part of that commitment, Contango has formed an internal committee to establish a framework for the Company’s ESG initiatives. In addition, Contango plans to add a committee to the Board focused on oil and gas production that is safe and environmentally and socially responsible while delivering long-term value for our shareholders. This new committee will be chaired by Ms. Simon.

Ms. Simon will also serve as a member of the Audit and Nominating Committees. Ms. Pasque will serve as a member of the Compensation and Nominating Committees. Following the appointment of Mses. Simon and Pasque, the Board will be comprised of seven directors, five of whom are independent.

“We are excited to have Karen and Janet join Contango’s Board,” commented John C. Goff, Chairman of the Board. “Karen is well-known and highly regarded throughout the investment banking community and we believe her unique skills will enable Contango to be a market leader in its current ESG initiatives. We expect Janet’s vast oil and gas experience, particularly in business development, will enable our continued execution of growth via acquisition of PDP-heavy assets and corporate opportunities.”

“We are pleased to welcome Janet and Karen to Contango’s Board,” said Wilkie S. Colyer, Jr., Chief Executive Officer. “I know Janet well from my time serving with her on the Board of Resolute Energy. We believe Janet and Karen’s extensive experience in the oil and gas industry along with Karen’s impressive tenure in capital markets and private equity greatly complements the existing skill set of our Board. We appreciate Karen and Janet’s willingness to serve on our Board and anticipating benefitting from their acumen in continuing with our strategy of disciplined growth and market consolidation.”