Circle Oil PLC Appointment of Chairman (9207W)
06 January 2014 - 6:00PM
UK Regulatory
TIDMCOP
RNS Number : 9207W
Circle Oil PLC
06 January 2014
6 January 2014
Circle Oil Plc
("Circle" or the "Company")
Appointment of Chairman
Circle Oil Plc (AIM: COP) the international oil and gas
exploration, development and production company, is pleased to
announce the appointment of Stephen ("Steve") Ian Jenkins, 55, as
Chairman with effect from 6 January 2014.
Steve was employed by Nautical Petroleum Plc ("Nautical") from
April 2005 to December 2012 and was CEO from April 2005 to August
2012 during which period he led Nautical through the AIM listing
process in 2005, followed by a successful drilling programme in the
North Sea, which featured a number of important oil discoveries and
appraisals (including Kraken, Greater Catcher and Mariner), several
fund raising and capital events and in August 2012, the successful
sale of Nautical to Cairn Energy for GBP414 million. He is
therefore well known to City institutions and private investors and
will play an active City facing role in his new position at
Circle.
Prior to this he was a consultant for Nautical AG/Masefield AG
where he was a founding member of the Nautical AG management team
who identified and successfully applied for Kraken block (9/2b) as
operator in the UK Continental Shelf 21st licensing round.
Between 1992 and 2003, Steve was Business Development and HSE
manager for Nimir Petroleum, a private Saudi Arabian company with
extensive production and exploration interests in South America,
Europe, North Africa, Middle East, Central Asia and the Russian Far
East. During this period he successfully led multidisciplinary
teams to evaluate E&P opportunities in these areas and
therefore has an intimate knowledge and understanding of the MENA
area, which represents the core geographical focus for Circle.
Steve holds a BSc Geology degree from Queens University, Belfast
and an MSc in Petroleum Geology from the Imperial College of
Science and Technology, London. He is Chairman of the Oil and Gas
Independents Association.
Commenting on the appointment, Nick Clayton, the Interim
Chairman, who will return to his role as a non-executive director
following Steve's appointment said:
"The appointment of Steve Jenkins represents a landmark event
for Circle and I am absolutely delighted to welcome him as the new
Chairman. He has a wealth of technical, City, management and MENA
experience and is therefore an ideal candidate to work with the
Executive team and the Board to steer the Company through the next
phase of development and growth"
Chris Green, the CEO of Circle, commented:
"In Steve Jenkins we have a highly qualified and respected new
Chairman. I look forward to working with Steve as we enter an
exciting time for Circle and its stakeholders"
Save as set out below there is no further information required
to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM
Rules:
Current Directorships: Directorships in past 5 years
Oil and Gas Independents Assoc. UKOOG Industry Association
Ltd
------------------------------
Groliffe Limited Nautical Petroleum plc
------------------------------
Terrain Energy Limited First Mariner Limited
------------------------------
Franklin Petroleum Limited Alba Resources Limited
------------------------------
Hedgepig Growth Limited Mountwest 561 Limited
------------------------------
Mountwest 560 Limited
------------------------------
Alba Resources (Holdings)
Limited
------------------------------
Mountwest 562 Limited
------------------------------
Nautical Petroleum Limited
------------------------------
Nautical Holdings Limited
------------------------------
UAH Limited
------------------------------
Nautical Italia SRL
------------------------------
Transunion Petroleum Italia
SRL
------------------------------
UKOOG Industry Association
------------------------------
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
Nick Clayton
Investec (+44 20 7597 5970)
Chris Sim
George Price
James Rudd
Liberum Capital Limited (+44 20 3100 2000)
Simon Atkinson
Clayton Bush
Tim Graham
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
Priscilla Garcia
Murray Consultants (+353 1 498 0320)
Joe Murray
Joe Heron
Notes to Editors
Circle Oil Plc (AIM: COP) is an international oil & gas
exploration, development and production Company with an expanding
portfolio of assets in Morocco, Tunisia, Oman and Egypt with a
combination of low-risk near-term production and significant
exploration upside potential. The Company listed on AIM in October
2004.
Internationally, the Company has continued to expand its
portfolio over the past years and now has assets in the Rharb
Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the
Mahdia Permit offshore Tunisia; the Grombalia Permit in northern
Tunisia and the Zeit Bay area of Egypt. Circle also has the largest
licence holding of any company in Oman. In addition to its
prospective Block 52 offshore, Circle also has an ongoing
exploration programme in Block 49 onshore.
Circle's strategy is to locate and secure additional licences in
prospective hydrocarbon provinces and through targeted investment
programmes, monetise the value in those assets for the benefit of
shareholders. This could be achieved through farm-outs to selected
partners who would then invest in and continue the development of
the asset into production, or Circle may itself opt to use its own
expertise to appraise reserves and bring assets into production,
generating sustained cash flow for further investment.
Further information on Circle is available on its website at
www.circleoil.net
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAKMGGMVDMGDZM
Circle Oil (LSE:COP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Circle Oil (LSE:COP)
Historical Stock Chart
From Jul 2023 to Jul 2024