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Teton Petroleum names new CEO and also chief financial officer

By OGJ editors

HOUSTON, May 12 -- Karl F. Arleth has been named president and CEO of Teton Petroleum Co., Denver, while John Mahar was named chief financial officer, effective May 20.

Arleth, who has been on the board as an outside director since early 2002, succeeds Teton CEO Howard Cooper, who will remain as chairman. Cooper founded Teton, which concentrates on Russian assets.

Arleth joins Teton from the Denver-based Sefton Resources Inc., where he was chief operating officer. He will remain on Sefton's board as a nonexecutive director.

Mahar's appointment is effective May 20. He is managing director and cofounder of
Gladstone Capital LLC, a New York oil and gas financial advisory firm. Mahar succeeds Tom Conroy, who is resigning to devote full time to his consulting firm.

Arleth joins Teton from Sefton Resources, Inc., where he was chief operating officer and will remain on Sefton's board as a nonexecutive director.


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