TIDMSOLO
RNS Number : 2028N
Solo Oil Plc
23 September 2019
23 September 2019
Solo Oil plc
("Solo" or "the Company")
Management Appointments
Strengthens team with appointment of experienced CFO and COO
Solo (AIM: SOLO), a natural resources investment company focused
on assembling a balanced, full lifecycle portfolio comprised of
production, development and exploration assets, is pleased to
announce that it has strengthened its senior management team
through the appointment of Romina Mele-Cornish as Chief Financial
Officer and Doug Rycroft as Chief Operating Officer with immediate
effect, with the expectation that they will be appointed to the
Board in due course.
Appointment of CFO
Mrs Mele-Cornish joins from Oil & Gas UK, a leading UK
offshore oil and gas industry lobby organisation, where she served
as Fiscal Policy Manager since 2017. In that role, she represented
around 400 members on fiscal matters, shaped government policies
and successfully negotiated complex legislative provisions that
advance industry's interests.
Mrs Mele-Cornish began her career at Deloitte in 2006, where she
became an Assistant Director with a focus on upstream Oil &
Gas. During this time, she worked in the Corporate Finance team,
specialising in M&A deals and Capital Market transactions, and
spent time seconded to BP's M&A team to provide guidance on
transaction execution and legal agreements.
After leaving Deloitte in 2014, she joined Oyster Petroleum, a
Private Equity backed UKCS focused E&P company, in Business
Development, and managed two A&D processes with a combined
valuation of circa GBP150 million. Upon the sale of Oyster
Petroleum, she established her own consulting firm, Colibri Energy
Consulting. In her capacity as an independent consultant
specialising in business development and corporate planning, Mrs
Mele-Cornish advised Edison E&P UK Limited senior management on
a range of commercial, business and corporate development and new
venture activities. These included commercial support to existing
portfolio assets (Scott and Telford) and farm-in screening on
Southern North Sea gas opportunities.
Mrs Mele-Cornish, ACA, is a member of Institute of Chartered
Accountants in England and Wales, as well as the Petroleum
Exploration Society of Great Britain. She has a Graduate
Certificate in Geology from Birkbeck/UCL and a MA in European
Communication Studies from Amsterdam University.
Appointment of COO
Mr Rycroft has been acting as General Manager of Solo since
being seconded by Gneiss Energy in March 2019. During this time, he
has played an instrumental role in helping the Board to deliver on
its strategic objectives in terms of rationalising the portfolio
and driving new business development.
Mr Rycroft is an experienced operations manager and commercial
negotiator having held asset management, business development and
commercial roles across the upstream oil and gas industry and as a
specialist energy advisor. In 2017, Mr Rycroft joined Gneiss Energy
Limited ("Gneiss") where he held the role of Commercial Director
specialising in M&A and capital raising advisory work for both
public and private energy companies and successfully executing
projects across a board range of geographies including the UKNS,
Europe, Africa and Latin America.
Prior to joining Gneiss, Mr Rycroft joined Ophir Energy in 2012,
where he managed their flagship asset in Tanzania, at a time when
the company drilled up the major resource base to support the
onshore terrestrial LNG development. The culmination of his
commercial efforts in Tanzania was the divestment of 50% of the
remaining stake in the project for US$ 1.3 billion to Pavilion
Energy.
Mr Rycroft was part of the management team that established a
privately-owned California onshore operator (2007-2011) securing a
joint venture with the ExxonMobil / Shell joint operating company
Aera Energy LLC ("Aera") for the deep exploration rights under the
sixth largest oilfield in the continental United States, South
Belridge. In his role he was responsible for all in-country
operations of the company, commercial interactions with Aera and
supported the fundraising efforts of the Board.
Mr Rycroft holds a Masters in Terrorism and International
Relations from Aberystwyth University and an MA (Hons) in History
and Politics from the University of Edinburgh.
Commenting on these appointments, Alastair Ferguson, Executive
Chairman, said:
"These both represent high-quality appointments that further
strengthen our management capabilities with the relevant skillset
and experience that we require as we continue through this
strategic evolution.
Romina's varied industry background lends itself perfectly to
our current juncture in terms of Corporate Finance and M&A
experience, and the expertise garnered through her role with Oil
& Gas UK will serve us well as we seek to execute
transformational growth in line with our stated objectives.
Doug has already proven himself to be a highly valuable member
of the team bringing exceptional technical and commercial skills
that have contributed significantly to our continued turnaround, so
we are pleased to formalise his role as COO and benefit from his
talents going forward.
On behalf of the Board, we welcome both to their respective new
roles and look forward to working with them as we deliver our
ambitious growth strategy."
Further information on Mrs Mele-Cornish and Mr Rycroft as
required in accordance with Schedule 2(g) of the AIM Rules
Romina Sandra Mele-Cornish (nee Mele), aged 40
Current Directorships / Partnerships Directorships / Partnerships
held in last 5 years
Colibri Energy Consulting Limited Ostralegus Ventures Limited
Douglas James Edward Rycroft, aged 36
Current Directorships / Partnerships Directorships / Partnerships
held in last 5 years
DJER Consulting Limited Dominion Investments Limited
Dominion Oil & Gas Limited
Dominion Petroleum Acquisitions
Limited
Dominion Petroleum Kenya Limited
Dominion Petroleum L15 (Kenya)
Limited
Dominion Petroleum Limited
Dominion Tanzania Limited
Ophir Energy Company Nigeria
(JDZ) Limited
There is no further information to be disclosed pursuant to
Schedule 2(g) of the AIM Rules.
For further information:
Solo Oil plc
Alastair Ferguson +44 (0) 20 7440 0642
Strand Hanson Limited
Nominated & Financial Adviser
Rory Murphy / James Spinney / Ritchie
Balmer +44 (0) 20 7409 3494
Shore Capital Stockbrokers Limited
Broker
Jerry Keen
Buchanan
Financial PR
Ben Romney / Kelsey Traynor / James +44 (0) 20 7408 4090
Husband +44 (0) 20 7466 5000
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCFMGZLGZNGLZZ
(END) Dow Jones Newswires
September 23, 2019 02:01 ET (06:01 GMT)
Scirocco Energy (LSE:SCIR)
Historical Stock Chart
From Apr 2024 to May 2024
Scirocco Energy (LSE:SCIR)
Historical Stock Chart
From May 2023 to May 2024