NEW YORK, Sept. 8 /PRNewswire-FirstCall/ -- Warren Resources, Inc.
(Nasdaq: WRES) ("Warren or the "Company") today announced that Mr. Leonard A.
DeCecchis, age 56, the former Executive Vice President and Chief Financial
Officer of Prestone Products Corporation and a member of its board of
directors, has joined Warren's Board of Directors.
Mr. DeCecchis retired from Prestone Products Corporation in June 1999 and
has been an investor in real estate and numerous business ventures since that
time. In 1994, Mr. DeCecchis participated in a management buyout of Prestone
antifreeze and other car care products from First Brands Corporation, a NYSE
company. The new Prestone management team was successful in growing sales and
doubling operating income within three years. In 1997, the company was sold to
Allied Signal Corporation yielding a substantial return on investment to the
management investors. From 1986 to 1994, Mr. DeCecchis was Vice President and
Treasurer of First Brands Corporation, which had also been a management buyout
of the automotive and home products divisions of Union Carbide Corporation.
Mr. DeCecchis joined Union Carbide in 1974 and held numerous positions in
auditing, treasury and financial reporting. In 1971, Mr. DeCecchis began his
career at Peat Marwick Mitchell & Co.
Mr. DeCecchis received a Bachelor's degree from Pace University in 1971
and a Master of Business Administration from Fordham University in 1979. He
is a Certified Public Accountant in New York.
"We are honored to have Len join our Board of Directors. He brings an
incredible wealth of business wisdom and financial knowledge to Warren from
having helped run a major car care products company," said Norman F. Swanton,
Warren's Chairman and CEO. Len clearly meets the Sarbanes-Oxley qualifications
for a "financial expert" and has agreed to join Warren's Audit Committee."
About Warren Resources
Warren Resources, Inc. is a growing independent energy company engaged in
the exploration and development of domestic natural gas and oil reserves.
Warren is primarily focused on the exploration and development of coalbed
methane properties located in the Rocky Mountain region and its water flood
oil recovery program in the Wilmington Unit located in the Los Angeles Basin
of California. The Company is headquartered in New York, New York, and its
exploration and development subsidiary, Warren E&P, Inc., is headquartered in
SOURCE Warren Resources, Inc.
Investor Relations: Kathleen Heaney of Warren Resources, Inc., +1-212-753-2137
Web site: http://www.warrenresourcesinc.com