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Mr.
Brown has more than 28 years of energy advisory,
executive management and investment banking
experience specializing in the formation and
implementation of rapid growth businesses and
joint ventures.
Mr.
Brown was President of Equitable Production
Company (EPC), the largest operating division
of Equitable Resources (NYSE - EQT) until June
2000. At that time, gas reserves were 2.3 trillion
cubic feet, production exceeded 250 million
cubic feet daily and assets exceeded $1 billion.
Prior to his EPC position, Mr. Brown's was Executive
Vice President of Statoil Energy and President
/ CEO of Statoil's natural gas division, Eastern
States Oil & Gas, which was acquired by
EQT in February 2000. During 1994 to1999, Mr.
Brown built Statoil and its predecessor companies
into the largest, most active and most profitable
operator in the Appalachian Basin.
During
1987 to 1993, Mr. Brown was an independent consultant
and investment banker. His primary activities
were the formation and ongoing participation
in certain exploration joint ventures. Separate
ventures were formed on behalf of Ultramar in
1987 in the Gulf Coast US and in Western Canada
involving commitments of $100 million. Formation
of the CHAP exploration venture on the Navajo
Indian Reservation in Western US then occurred
in 1988. Mr. Brown was directly involved in
building the venture management team and continued
to participate in management on behalf of the
six non-operating Australian partners until
1993. This consortium conducted the largest
on-shore seismic program in the US in 1988 and
1989 investing more than $50 million exploring
and developing the acreage. The value of the
venture had increased to $150 million by 1991
when Mr. Brown sold his affiliate, C.A.B. Resources.
During
1980 to 1986, Mr. Brown was a Senior Associate
for Gaffney, Cline & Associates, an international
engineering and advisory firm. His efforts were
focused on strategic planning, property and
corporate valuations, investment banking and
investment due diligence assignments. Mr. Brown
had an integral role in the reorganization of
four operating divisions or companies. He was
most active in projects and for clients throughout
the US, Australia, United Kingdom and Canada
as well as other international areas.
From
1972 to 1980, Mr. Brown worked for Riggs National
Bank in Washington, DC in two petroleum related
capacities. In 1978, he conceived and established
an energy lending division, serving as Vice
President and Manager. Prior to that, he was
a Senior Petroleum Investment Analyst in the
Trust Department. During two temporary leaves
of absence in 1975 and 1976, Mr. Brown worked
offshore in the Arabian Gulf and Gulf of Mexico
for Rowan Companies.
Mr.
Brown has MBA and BBA degrees from George Washington
University, majoring in finance.
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