Pine Brook Road Partners Funds Oil and Gas Start-Up, Stonegate Production Company

Backs Management Team with Strong E&P Track Record

NEW YORK, NY, April 17, 2007 – Pine Brook Road Partners, LLC, a New York-based private equity firm specializing in growth equity investments in the energy and financial services sectors, and Soros Strategic Partners LP, a private investment vehicle managed by Soros Fund Management LLC, today announced a commitment of $200 million to Stonegate Production Company, LLC.  The funding is being provided through a Bridge Fund that is a partnership between Pine Brook and Soros Strategic Partners.

Stonegate, based in Houston, Texas, is a start-up oil and gas company focused on exploration and production (E&P) opportunities in mature onshore fields in the U.S.  The Company’s founder and Chief Executive Officer, Mike Harvey, is an experienced entrepreneur who led three previous successful E&P start-ups.  Howard Newman, Pine Brook’s President and Chief Executive Officer, worked with Mr. Harvey in his previous venture, Gryphon Exploration Company.  

“Stonegate represents an attractive investment opportunity for Pine Brook and is a prime example of our philosophy of partnering with proven management teams in high growth enterprises,” noted Howard Newman.

“We are pleased by Pine Brook’s confidence in our business strategy and prospects, and thrilled to have the support of the Pine Brook team, along with their valuable perspective on the energy sector,” commented Mike Harvey.

About Pine Brook Road Partners
Pine Brook Road Partners, LLC, is a New York-based private equity firm established in 2006 by a team of experienced private equity professionals led by Howard Newman, former Vice Chairman of Warburg Pincus LLC, to make business building and growth capital investments, primarily in the energy and financial services sectors. (www.pinebrookpartners.com)

About Stonegate Production Company