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| Costilla Announces New Executive Management Team |
MIDLAND, Texas, April 27 /PRNewswire/ -- Costilla Energy, Inc. (Nasdaq: COSE) reported today that Mike Grella has left the Company's employment as President and Chief Executive Officer to pursue other business interests. Grella's duties will be assumed by the executive management team of Cadell Liedtke, Chairman of Costilla's Board of Directors and Henry Musselman, the Company's Chief Operating Officer and a Director. "Mike has been a driving force in the growth of Costilla Energy, and we are extremely grateful for the work he has done in building our asset base and assembling our management team," said Liedtke, who with Grella and Musselman founded the Company. "Costilla has properties with excellent potential and a staff of professionals with proven track records. We are confident that these strengths will be key to our ability to meet the challenges ahead." Costilla Energy, Inc. is an independent energy company actively engaged in the exploration, acquisition and development of oil and gas properties, with operations primarily in the Permian Basin of Texas and New Mexico, the Gulf Coast region of South Texas, and the Rocky Mountains. Headquartered in Midland, Texas, the Company and its predecessors have been in business since 1988. The Company's common stock is traded on the Nasdaq National Market under the symbol COSE. Additional information about Costilla is available on the Internet at http://www.costillaenergy.com. Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Costilla Energy, Inc. to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: the volatility of oil and gas prices; the Company's ability to replace its oil and gas reserves; the availability of capital resources; the reliance upon estimates of proved reserves; operating hazards and uninsured risks; competition; government regulation; and the ability of the Company to implement its business strategy. Additional information is available in the Company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.SOURCE Costilla Energy, Inc.
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Guy McCrary, Manager of Investor Relations of
Costilla Energy, Inc., 915-683-3092
