CORPUS CHRISTI, Texas, Feb. 24, 2011 (GLOBE NEWSWIRE) -- Strategic American Oil Corporation (OTCBB:SGCA) (the "Company") is pleased to announce it has appointed Alan Gaines as the new Chairman of the Board and Amiel David as President of the Company, effective February 15 h, 2011. Mr. Gaines and Dr. David will also serve as members of the Board of Directors.
Alan Gaines has approximately 30 years experience as an energy investment and merchant banker. Presently he serves as Executive Chairman of the Board of Directors, and founder of Dune Energy, Inc. (OTCBB:DUNR) and Dune Operating Company (a privately held oil and gas investment company domiciled in the State of Connecticut) since May 2001. Mr. Gaines also served as CEO of Dune Energy from inception through May 2007.
In 1983, he co-founded Gaines, Berland Inc., a full service investment bank and brokerage, specializing in global energy markets, with particular emphasis given to small to mid capitalization companies involved primarily in the exploration and production of oil and natural gas, as well as midstream (pipelines and transportation) and downstream (refining and marketing). In the three years prior to selling his personal stake in the company, Gaines, Berland acted as lead underwriter and/or participated in the placement of more than $3 billion of equity and debt securities.Mr. Gaines holds a B.B.A. in Finance from Baruch College (CUNY) with a minor in Physics and an M.B.A. in Finance (With Distinction-Valedictorian) from The Zarb School, Hofstra University School of Graduate Management. Dr. Amiel David is experienced in energy related operations, management, investment banking/engineering with decision-making capabilities in a wide range of areas including corporate management, corporate banking, engineering, asset and corporate mergers/acquisitions/dispositions. Dr. David has over forty years of corporate management, financial activities related to the upstream and midstream operations, exploration, production, and infrastructure both onshore and offshore.