TIDMBEY

RNS Number : 4521F

Barryroe Offshore Energy PLC

07 November 2022

CHAIRMAN STEPS DOWN AS PLANNED

Dublin and London - 7(th) November : Barryroe Offshore Energy announces that James Menton will step down as a Director and Chair of the Board effective today and in line with the market update provided at the end of August (RNS of 25(th) August).

The search for a replacement is ongoing and a number of strong candidates have been identified and approached. The Board is confident that a successor will be announced in due course.

In the interim period Peter Newman, senior independent non-executive Director, has agreed to undertake the role of Chairman.

James Menton commented : "As I had earlier indicated to the Board, my intention to step down reflects personal reasons and also has regard for my other ongoing business commitments, which predated my appointment as a director of Barryroe. I would like to take this opportunity to sincerely thank my fellow Board members, Alan Curran, staff members and advisors for their help and guidance and also wish them every success in seeking to bring forward the development of the strategic oil and gas resource at Barryroe."

Alan Curran, CEO commented: "James Menton has served 15 months as Chairman, most of that period with an executive function. During that time, he steered Barryroe Offshore Energy through a particularly difficult period and ensured it remained tightly focused on the development of the Barryroe oil and gas project. The Board acknowledges and thanks James for his efforts and contribution and wishes him well in his future endeavours."

Barryroe Offshore Energy also announces that Colin Christie is joining the team as Corporate Finance Advisor. Colin brings a 37 year career in senior finance roles in oil and gas and utilities across Europe, North America and the Middle East for both listed and private companies. Colin's expertise will be very important as Barryroe Offshore Energy progresses its plans for the Barryroe oil and gas field.

INVESTOR ENQUIRIES:

   Barryroe Offshore Energy P.l.c.                             Tel: +353 1 219 4074

Alan Curran

Chief Executive

   Investor Relations                                                       Tel: + 353 1 219 4074

Job Langbroek

J & E Davy Tel: +353 1 679 6363

Anthony Farrell

MEDIA ENQUIRIES

   AM O'Sullivan PR                                                         Tel: +353 87 9881890 / tina@amosullivanpr.ie

Tina Quinn

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END

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(END) Dow Jones Newswires

November 07, 2022 02:00 ET (07:00 GMT)

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