Debtor Moves for Approval of Oil & Gas Leasehold Broker, Court Enters Orders Regarding Employment of Certain Professionals

On or about March 2, 2012, the Debtor filed a Motion to Assume Broker Agreement and an Application to Employ Broker, which seek to maintain the pre-existing/pre-petition relationship the Debtor has with Joseph W. Hass and Reserve Energy Exploration Company.  If approved, the proposed employment will allow Reserve Energy Exploration Company to continue assisting the Debtor with the marketing and sale of certain of its oil and gas leaseholds in Pennsylvania.  An expedited hearing on the Motion and Application have been scheduled for March 22, 2012, at 3:00 p.m. in the Bankruptcy Courtroom, U.S. Courthouse, 17 South Park Row, Erie, with responses due by March 21, 2012 at 12:00 p.m. 

Additionally, on or about March 7, 2012, the Bankruptcy Court entered an Order Approving Counsel for Creditors’ Committee, which confirmed the appointment of Lawrence C. Bolla, Esq. and the Law Firm of Quinn, Buseck, Leemhuis, Toohey and Kroto, Inc. as Counsel to the Official Committee of Unsecured Creditors.  An Order approving the application of James E. Sprague and Walthall, Drake & Wallace, LLP as Debtor's Accountant was entered as well.  The Debtor's Application to Employ Richard N. Selby, II, Melvyn E. Resnick, Jodi Littman Tomaszewski, Erik L. Walter and Howard S. Rabb and the law firm of Dworken & Bernstein Co., L.P.A. as Special Counsel was previously withdrawn.