Caprock Oil Announces Election Of Steven Mikel As Chief Executive Officer

HOUSTON, June 5, 2014 /PRNewswire/ -- Caprock Oil, Inc. (OTC: ROKO.OB) (formerly, Stratum Holdings, Inc.) has announced the election of Steven H. Mikel as President and Chief Executive Officer.  In the position of Chief Executive Officer, Mr. Mikel replaces D. Hughes Watler, Jr., the Company's Chief Financial Officer, who has also been serving as the Company's senior executive officer since April 2013.  Mr. Watler remains as Chief Financial Officer.

Mr. Mikel has over thirty years' experience in both the financial and operating sides of the oil and gas business.  From 2004 to 2011, he served as the President and Chief Executive Officer of various private equity funded Chroma companies.  He also served as President and Chief Executive Officer of Southern Mineral Corp. (a NASDAQ listed company) from January 1995 until its merger in 2001.  He co-founded Resource Investors Management Company (RIMCO), an oil and gas investment management company, in 1984, and served as its Managing Director from October 1985 to April 1993.  He began his career as a corporate finance attorney in Hartford, Connecticut, and then worked in finance with Aetna Life and Casualty, where he specialized in the natural resource industries.  Mr. Mikel received his B.A. and J.D. degrees from Syracuse University and his M.B.A. from the University of Connecticut.

Caprock is an energy company whose operations are presently focused on the Exploration & Production business on the Gulf Coast.  Caprock owns working interests in approximately 50 producing oil and gas wells in Texas and Louisiana and has a 50% non-operated working interests in three high potential drilling prospects in Alabama.  Mr. Mikel will be responsible for directing Caprock's market driven strategy aimed at increasing shareholder value through a balanced approach focused on both organic growth and acquisition opportunities around its core property areas.  He will lead a management team that has substantial experience in the acquisition, exploitation and financing of oil and gas properties and has participated in the creation and development of both public and private oil and gas companies with several hundred million dollars of market capitalization. 

Statements contained in this press release with respect to the future are forward-looking statements.  These statements reflect management's reasonable judgment with respect to future events.  Forward-looking statements involve risks and uncertainties.  Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, and the timing and number of additional acquisitions made by Caprock. Forward-looking statements are based on currently available information, and we assume no obligation to update any such statements.  Please refer to Caprock's annual report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission.

Contact:
D. Hughes Watler, Jr.
Chief Financial Officer
(713) 479-7050
www.caprockoil.com

SOURCE Caprock Oil, Inc.