CALGARY, Alberta, July 10, 2014 /PRNewswire/ --
PetroMaroc Corporation plc (formerly Longreach Oil and Gas
Limited) is pleased to announce that its Board of Directors has
appointed Thomas Feuchtwanger as the
new President & Chief Executive Officer and a Director of the
Company. Feuchtwanger was selected following the completion of an
international search for a new Chief Executive Officer over the
past few months.
"Thomas is a highly accomplished and experienced leader who has
built a successful career exploring for and producing oil and
natural gas in Canada and a
variety of international locations. With more than three decades of
experience building value from complex and challenging geological
structures, Thomas is ideally suited to lead PetroMaroc as it
strives to become the leading hydrocarbon producer in Morocco," said Dennis
Sharp, who remains PetroMaroc's Chairman.
A seasoned geologist and petroleum management professional,
Thomas graduated with a Bachelor of Science (Hons) from the
University of the Witwatersrand in Johannesburg, South Africa in 1973. He began
his career as a mineral exploration geologist working in
Southern Africa. In 1979 Thomas
immigrated to Canada where he
worked for 12 years at Gulf Canada exploring for and developing
hydrocarbon pools in Canada. At
Gulf Canada, he earned positions of increasing responsibility
including exploration manager for Western
Canada, and business unit manager for non-operated enhanced
oil recovery production. In 1992, Thomas was appointed vice
president exploration at CS Resources, a Western Canadian junior
oil and natural gas company, where he was part of a team that grew
production to 18,000 barrels of oil per day and the market
capitalization to C$550 million. CS
Resources pioneered many technical breakthroughs and reservoir
development innovations that helped turn Canada's thermal oil sands production from an
experimental industry into a globally competitive oil supplier.
After CS Resources was acquired, Thomas worked in senior executive
positions in a number of Canadian companies including as President,
CEO and a Director of Largo Petroleum which was exploring in
Tunisia. Thomas joined PetroMaroc
(formerly Longreach Oil and Gas) in January
2013 as Vice President GeoSciences, and was named Vice
President Exploration in January
2014.
PetroMaroc was formerly named Longreach Oil and Gas Limited. The
Company will notify shareholders when the transition from the
Longreach trading symbol "LOI" to the PetroMaroc trading symbol
"PMA", which remains subject to the approval of the TSX Venture
Exchange, comes into effect.
About PetroMaroc
PetroMaroc is an independent oil and gas company focused on its
significant land position in Morocco. The Company has a 50 percent operated
interest in the Sidi Moktar licence area covering 2,683 square
kilometres and is working closely with ONHYM as a committed
long-term partner to unlock the hydrocarbon potential of the
region. Morocco offers a
politically stable environment to work within and has favourable
fiscal terms to energy producers.
Additional information about the Company can be found at
http://www.petromaroc.co/ http://www.longreachoilandgas.com
and under the Company's SEDAR profile at http://www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of Longreach in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. The securities referred to herein have not been and will
not be registered under the United States Securities Act of 1933
(the "U.S. Securities Act") or any state securities laws and may
not be offered or sold within the United
States or to U.S. Persons (as defined in the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable
state securities laws, or an exemption from such registration is
available.
For further information:
Martin Arch
Chief Financial Officer and Secretary
Tel: +44 203 137 7756
(LOI.)
SOURCE PetroMaroc Corporation plc; Longreach Oil and Gas
Limited