Jersey Oil and Gas PLC Directorate Changes (2565H)
November 14 2018 - 2:01AM
UK Regulatory
TIDMJOG
RNS Number : 2565H
Jersey Oil and Gas PLC
14 November 2018
14 November 2018
Jersey Oil and Gas plc
("Jersey Oil & Gas", "JOG" or the "Company")
Directorate Changes
Jersey Oil & Gas (AIM: JOG), an independent upstream oil and
gas company focused on the UK Continental Shelf ("UKCS") region of
the North Sea, is pleased to announce the appointment to the
Company and its Board of Directors of Vicary Gibbs as Chief
Financial Officer with immediate effect.
Vicary has over 20 years' experience as a corporate financier
advising oil and gas corporates on M&A, capital raising and
restructuring transactions. He previously worked at BMO Capital
Markets Limited as a Managing Director, Investment Banking. Since
April 2017, Vicary has acted as an independent oil and gas
consultant, providing advice to Jersey Oil and Gas and others.
Prior to this, he worked at Canaccord Genuity Hawkpoint Limited,
Bank of America and Deutsche Bank AG. Vicary has a BA in Business
Administration.
Accordingly, Scott Richardson Brown has stepped down from his
current role, with immediate effect, in order to focus on his other
directorships and business interests, but has agreed to assist
Vicary and the Company in achieving a smooth handover of his
responsibilities over the next four weeks.
Marcus Stanton, Chairman of Jersey Oil & Gas, commented:
"I am delighted to welcome Vicary to the Board and look forward
to working with him in the years ahead, leveraging off his
considerable experience as we look to grow the business organically
with our core Verbier asset as well as continuing to evaluate and
pursue accretive North Sea focused acquisition opportunities.
"I would like to take this opportunity to thank Scott for his
contribution to the Company's development, as we transitioned
through the restructuring of Trap Oil into Jersey Oil & Gas,
followed by the successful Verbier oil discovery. I, and the entire
Jersey Oil & Gas team, wish Scott all the best with his future
endeavours."
Enquiries:
Jersey Oil and Gas plc Andrew Benitz, C/o Camarco:
CEO Tel: 020 3757
4983
Strand Hanson Limited James Harris Tel: 020 7409
Matthew Chandler 3494
James Bellman
Arden Partners plc Paul Shackleton Tel: 020 7614
Benjamin Cryer 5900
BMO Capital Markets Limited Jeremy Low Tel: 020 7236
Tom Rider 1010
Camarco Billy Clegg Tel: 020 3757
Georgia Edmonds 4983
James Crothers
**Ends**
Additional information on the Directorate Appointment
The following additional information is provided in accordance
with AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules
for Companies:
Vicary James Gibbs (aged 45)
Current directorships/partnerships Past directorships/partnerships
VicaryGibbs Ltd None
Vicary Gibbs and his spouse are beneficially interested in 4,447
ordinary shares in Jersey Oil & Gas and he has today been
awarded options over a further 150,000 ordinary shares in Jersey
Oil & Gas at an exercise price of 172 pence per share. All of
these options vest entirely on the third anniversary of their date
of grant subject to the satisfaction of certain performance
conditions to be determined and interpreted at the discretion of
the Remuneration Committee. Subject to vesting and such performance
conditions being met, the options are exercisable at any time
between the third and seventh anniversaries of their date of grant
and if not exercised by that date, will lapse.
Notes to Editors:
Jersey Oil & Gas is a UK E&P Company focused on building
an upstream oil and gas business in the North Sea. The Company owns
an 18% interest in the P2170 licence, Blocks 20/5b & 21/1d,
Outer Moray Firth, in which the operator, Equinor UK Limited, owns
a 70% interest and CIECO V&C (UK) Limited owns a 12%
interest.
The Company plans to build a production portfolio via both
organic development and acquisitions coinciding with the cyclical
recovery in the oil price and the opportune buying market in the
North Sea. The Company is involved in multiple sales processes and
intends to draw on its management team's considerable experience,
knowledge and expertise to deliver shareholder value from its
stated growth strategy.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
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
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