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EXHIBIT 99.2
CHENIERE ENERGY, INC. CONTACT: DAVID CASTANEDA
Investor Relations
1-888-948-2036
E-mail: [email protected]
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NEWS RELEASE
Cheniere Energy, Inc. Names New President
Houston - September 19, 2000 - Cheniere Energy, Inc. (NASDAQ:CHEX) announced
today that its board of directors has elected Charles M. Reimer to serve as
President and Chief Executive Officer of the company. Mr. Reimer has been a
director of Cheniere since April 1998 and will continue to serve on the
company's board.
Mr. Reimer has most recently served as President of British-Borneo USA, Inc. in
Houston. Prior to joining British Borneo in November 1998, Mr. Reimer served as
Chairman and CEO of Virginia Indonesia Company (VICO), the operator on behalf of
Union Texas Petroleum Holdings, Inc. and LASMO plc, of major gas and oil
reserves and production located in East Kalimantan, Indonesia. Mr. Reimer began
his career with Exxon Company USA in 1967 and held various professional and
management positions in Texas and Louisiana. After leaving Exxon in 1985, Mr.
Reimer was named President of Phoenix Resources Company and relocated to Cairo,
Egypt to begin eight years of international assignments.
Charif Souki, Cheniere's Chairman, said, "Charles has a tremendous depth of
experience. He has led companies of considerable size and stature, and he brings
a broad perspective to Cheniere. We recently announced the formation of our
affiliate, Gryphon Exploration, to aggressively pursue our exploration program
on the Fairfield data set in conjunction with Warburg, Pincus Equity Partners,
L.P. Charles will serve on Gryphon's board of directors and will help oversee
Cheniere's 36.8% interest in Gryphon. Using the same strategy to build programs
around talented people, with leading edge technology, to exploit high impact oil
and gas prospects, Charles will also lead our efforts to fully develop our
production, exploit our proprietary data base in the West Cameron Parish,
Louisiana, and the data base we recently acquired from Seitel. He has been a
very valuable board member since joining us two years ago, and we are thrilled
that he has agreed to lead the next phase of our growth."
Mr. Reimer will be replacing Michael L. Harvey, who will leave Cheniere to serve
as President and Chief Executive Officer of Gryphon Exploration Company, a
company recently formed by Cheniere to implement its exploration program over an
8,800-square-mile 3D seismic database, which Cheniere licensed last year from
Fairfield Industries.
Cheniere Energy, Inc. is an independent oil and gas company focused in and
around the Gulf of Mexico. The company generates drilling prospects using its
11,000-square-mile 3D seismic database and acquires drilling rights on these
prospects through lease sales and farm-ins. Additional information about
Cheniere can be found by calling the company's Investor and Media Relations
Department at 888-948-2036.
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