Upland Resources Limited Directorate Change (9046O)
07 October 2019 - 5:00PM
UK Regulatory
TIDMUPL
RNS Number : 9046O
Upland Resources Limited
07 October 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
This announcement is not an offer for sale, or a solicitation of
an offer to acquire, securities in any jurisdiction, including in
or into the United States, Canada, Australia, or Japan. Neither
this announcement nor any part of it shall form the basis of or be
relied on in connection with or act as an inducement to enter into
any contract or commitment whatsoever.
7 October 2019
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Directorate Change
Mr. Christopher Pitman Appointed as Interim CEO
Upland Resources Limited (LSE: UPL), the oil and gas company
actively building a portfolio of attractive upstream assets in
Tunisia, South-East Asia and the UK, announces that Dr. Stephen
Staley, Chief Executive Officer of the Company, has resigned with
immediate effect for personal reasons. Until further notice, Mr.
Christopher Pitman, Director, will succeed Dr. Staley as interim
CEO.
Mr Christopher Pitman has held chief executive and president
roles within both privately and publicly owned entrepreneurial oil
companies (Surestream Petroleum and Zarara Energy) and
international service companies (Petroleum Geo-Services and
Schlumberger). He is a petroleum geologist with over 35 years
international exploration and production experience providing him
with a unique and in-depth knowledge of the petroleum systems in
the Asia-Pacific (APAC) and the Middle East-Africa regions
(MEA).
Mr Pitman has a significant track record of leading campaigns to
open up new emerging petroleum plays both through high impact
exploration and with the application of technology to existing
petroleum discoveries which has given him a unique insight into
negotiating new licences and production contracts at the highest
government levels.
He has consistently provided both asset and corporate growth
opportunities and raised substantial project funding through
farm-outs, equity finance, risk sharing and reserve based
lending.
Christopher Pitman, interim CEO of Upland, commented:
"I look forward to leading Upland over this interim period and
intend to work with my contacts in South East Asia with a view to
securing additional valuable new opportunities for the Company. We
have already identified opportunities to progress with strategic
partnerships involving the re-development of proven fields which
are presently uneconomic for their current operators. I am also
very excited about Upland's existing projects in Tunisia, Sarawak
and the UK North Sea and look forward to progressing these areas
over the next few months and to updating shareholders on
progress".
Bolhassan Di, Chairman of Upland, commented:
"The Upland Board wishes to thank Steve for his service and the
substantial contribution that he has made to the Upland Group since
Upland was set up in 2012 and wishes him the best in his future
endeavours."
This announcement contains inside information for the purposes
of Article 7 of the Regulation (EU) No 596/2014 on market abuse.
Upon the publication of this announcement via the Regulatory
Information Service, this inside information is now considered to
be in the public domain.
Contact details:
Upland Resources Limited www.uplandres.com
Bolhassan Di, Chairman Tel: +44 (0) 7891 677441
bolhassan@gmail.com
Optiva Securities Limited www.optivasecurities.com
Jeremy King (Corporate Tel: +44 (0) 203 137 1904
Finance) jeremy.king@optivasecurities.com
Christian Dennis (Corporate Tel: +44 (0) 203 137 1903
Broker) christian.dennis@optivasecurities.com
FTI Consulting
Ben Brewerton Tel: +44 (0) 203 727 1065
ben.brewerton@fticonsulting.com
Flowcomms Ltd
Sasha Sethi Tel: +44 (0) 7891 677441
sasha@flowcomms.com
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
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contact rns@lseg.com or visit www.rns.com.
END
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