Knobias Clip Report (08-25-2008) QRCP/QELP
Submitted By Knobias ClipReport
QRCP/QELP: Jerry Cash Resigns as Chairman and CEO
By Fain Hughes, fhughes@knobias.com
The boards of directors of Quest Resource Corporation (QRCP), Quest Energy Partners, L.P. (QELP) and Quest Midstream Partners, L.P. have accepted the resignation of Jerry Cash, as Chairman and CEO of all three entities, effective immediately. The resignation followed the discovery, in connection with an inquiry from the Oklahoma Department of Securities, of questionable transfers of company funds to an entity controlled by Mr. Cash. Initial indications are that the amount in question appears to involve about $10 million.
The boards also announced they have unanimously elected David Lawler as president of each entity and have appointed him as a director of Quest Resource Corporation to fill the vacancy created by Cash’s resignation. Lawler has served as the Chief Operating Officer of Quest Resource Corporation since May 2007. Mr. Lawler has been a director and Chief Operating Officer of Quest Energy Partners since its initial public offering in November 2007.
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