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Transzap™ Elects Lon McCain to Board of Directors
DENVER and HOUSTON - January 4, 2005- Transzap, Inc, home of Oildex™, the energy industry's leading provider of digital data and electronic payable solutions, today announced the election of Lon McCain to the Transzap Board of Directors. Mr. McCain is a widely-respected business leader whose experience with high-growth energy companies is expected to provide valuable assistance to Transzap's strategic growth and business development initiatives.
From 2001-2004, Mr. McCain served as the Vice President and Chief Financial Officer of Westport Resources Corporation, an exploration and production company that was recently acquired by Kerr-McGee for $3.4 billion. During his tenure, Westport's market value increased 700 percent. He also served as a Principal and Senior Vice President from 1992 - 2001 at Petrie Parkman & Co., an investment banking firm specializing in the energy industry. Mr. McCain held senior executive positions with Presidio Oil Company, Ceres Capital and Petro-Lewis Corporation. He has served as an Adjunct Professor of Finance at the University of Denver Daniels College of Business since 1982. Lon McCain holds a B.S. in Business Administration and an MBA in Finance, from the University of Denver.
Peter Flanagan, Transzap's President and Chief Executive Officer, stated, "We are pleased to welcome Lon McCain to our Board of Directors. He adds valuable energy industry experience in the areas of corporate finance, strategy and senior management. As Transzap continues its pattern of double-digit growth, our company will benefit from his knowledge, contacts and the experience acquired during his accomplished career."
About Oildex™ a Transzap, Inc. service
Through its suite of web-based software services Oildex™ simplifies financial and operational processes for energy companies by replacing paper-based tasks and information with digital data and collaboration tools. Oildex services deliver essential business information for solid decision-making. Serving over 1000 companies and 10,000 users, Oildex provides one of the industry's largest Internet-based data exchanges. Currently available commercial services include: digital and scanned invoicing (Spendworks™), owner/producer relations data posting, check stub reporting (CDEX), crude oil data exchange (CODE), gas data exchange (GRADE), production and sales volume reporting and joint interest billing (JIB Connect™). Oildex has offices in Denver and Houston. This news release and additional information are available: http://www.oildex.com
For additional information contact:
Karey Goebel
Marketing Director
Office: 303-222-6116
kgoebel@oildex.com
