Europa Oil & Gas (Holdings) plc /
Index: AIM / Epic: EOG / Sector: Oil & Gas
25 January 2018
Europa Oil &
Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Board Changes
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and
production company, is pleased to announce the following changes to
the Board effective from 25 January
2018. Mr Simon Oddie replaces
Non-Executive Chairman Colin
Bousfield, who is stepping down from the Board. In addition,
the Company is pleased to announce the appointment of Mr Brian
O'Cathain as a Non-Executive Director.
Mr Oddie has over 40 years of experience as a petroleum
engineer, technical consultant, manager and investment adviser in
the upstream oil and gas sector. He has worked with Schlumberger,
ERC Energy Resource Consultants, Enterprise Oil and Gemini Oil and
Gas Advisors LLP during which time he has gained extensive
experience in technical, senior management and finance functions.
Mr Oddie was CEO of Enterprise Italy and architect of the Gemini
Oil and Gas royalty funds. He has a proven track record in
initiating and executing value accretive transactions in the oil
and gas industry and in working closely with investors. Mr Oddie
completed the Advanced Management Program at Harvard Business School, holds an MSc. in Petroleum
Engineering from Imperial College London and a BSc (First Class) in
Electronics from Manchester University.
Mr O’Cathain is a geologist and petroleum engineer with over
thirty years’ experience in senior technical and commercial roles
in upstream oil and gas exploration and production companies,
including Shell International, Enterprise Oil and Tullow Oil. He
has experience in working in West
Africa, North Africa,
onshore Europe and the North Sea.
He was the Chief Executive of Petroceltic International plc from
2007 to 2016. During this period Petroceltic discovered the Ain
Tsila gas condensate field in Algeria, and concluded a nil-premium merger
with Melrose Energy. Prior to this he served as Chief Executive of
Afren plc from 2005 to 2007. He served as the Managing Director of
Enterprise Oil Ireland at the sanction of the Corrib Gas Field
development. Mr O'Cathain holds a first-class honours degree in
Geology from the University of Bristol.
Europa's CEO, Hugh Mackay,
said: “I am delighted to welcome Simon and Brian to the Board.
They each bring substantial and relevant experience of upstream
exploration and production along with first class technical and
commercial expertise. As a result, their respective appointments
neatly complement the existing Board’s collective skillset. We are
focused on our corporate performance and I am confident they will
both play a key role in achieving future success for the Company.
We have an industry-leading high-impact exploration portfolio
offshore Ireland, we have a full
cycle exploration and production portfolio onshore UK and we are
actively pursuing new venture opportunities. Our objective is to
create value for our investors.
“I have very much enjoyed working with Colin over these last
four years and thank him for the substantial contribution he has
made to Europa during this time. I am sad to see him go, however I
have every confidence that he will remain one of Europa’s most
vociferous supporters. I wish him every success in his future
endeavours.”
Europa’s outgoing Chairman, Colin
Bousfield, said: “It has been a privilege to be
associated with Europa and I would like to thank shareholders,
employees and fellow board members for their support over the
years.”
* * ENDS * *
For further information please visit www.europaoil.com or
contact:
Hugh Mackay |
Europa |
+ 44 (0) 20 7224 3770 |
Phil Greenhalgh |
Europa |
+ 44 (0) 20 7224 3770 |
Matt Goode |
finnCap Ltd |
+ 44 (0) 20 7220 0500 |
Simon Hicks |
finnCap Ltd |
+ 44 (0) 20 7220 0500 |
Emily Morris |
finnCap Ltd |
+ 44 (0) 20 7220 0500 |
Frank Buhagiar |
St Brides Partners Ltd |
+ 44 (0) 20 7236 1177 |
Susie Geliher |
St Brides Partners Ltd |
+ 44 (0) 20 7236 1177 |
Notes
Europa Oil & Gas (Holdings) plc has a diversified portfolio
of multi-stage hydrocarbon assets that includes production,
exploration and development interests, in countries that are
politically stable, have transparent licensing processes, and offer
attractive terms.
In 2017 Europa produced 113 boepd. Its highly prospective
exploration projects include the Wressle development in the UK and
seven licences offshore Ireland
with the potential to host gross mean un-risked prospective and
indicative resources of 4.7 billion barrels oil equivalent and 1.5
tcf gas across all seven licences.
Disclosures required under Schedule
2(g) of the AIM Rules for Companies
The following information regarding the appointment of
Simon George Oddie, aged 64, is
disclosed under Schedule 2(g) of the AIM Rules for Companies:
Current directorships and/or
partnerships: |
Former directorships and/or
partnerships (within the last five years): |
- Milclif Energy Limited
- Little Milton Village Shop Limited
- EFI Advisors
|
- Gemini Oil & Gas Advisors LLP
- 43-45 Blenheim Crescent Limited
|
Mr Oddie does not hold any ordinary shares of 1 pence in the Company (“Ordinary Shares”). Mr
Oddie was today issued 1,200,000 options over ordinary shares in
the Company (“Options”). The Options are valid until 24 January 2028 and have an exercise price of
6.5 pence per Ordinary Share and can
be exercised on the condition that the closing average mid-market
price of an Ordinary Share exceeds 10
pence per Ordinary Share for 30 consecutive trading
days.
The following information regarding the appointment of Brian
John O'Cathain, aged 58, is disclosed under Schedule 2(g) of the
AIM Rules for Companies:
Current directorships and/or
partnerships: |
Former directorships and/or
partnerships (within the last five years): |
- Eland Oil & Gas plc
- Black Mountain Consulting Limited
- Abbeyville Property Limited
- Annapurna Oil Limited
- BOC Upstream Consultants Limited
|
- Petroceltic plc
- Petroceltic South Disouq Limited
- Petroceltic South Idku Limited
- Petroceltic Turkey Limited
- Petroceltic Company of Egypt
- Petroceltic El Mansoura Company
- Petroceltic Qantara Company
- Petroceltic S E El Mansoura Company
- Petroceltic Energy Limited
- Petroceltic Bulgaria Inc
- Melrose Mediterranean Limited
- Petroceltic Greece Limited
- Petroceltic Resources plc
- Petroceltic Italia S.r.l
- Petroceltic North Thekah Limited
- Petroceltic Ain Tsila Limited
- Petroceltic Isarene-2 Limited
- Petroceltic Kurdistan Limited
- Petroceltic Illizi Limited
- Petroceltic African Holdings Limited
- Petroceltic Ksar Hadada Limited
- Petroceltic Isarene Limited
- Petroceltic Investments Limited
- Petroceltic Reserve Limited
- Petroceltic Erris Limited
- Petroceltic International plc
- R-Space Gallery CIC
- Petroceltic Resources Limited
- Petroceltic Holdings Limited
|
Mr O’Cathain does not hold any Ordinary Shares in the Company.
Mr O’Cathain was today issued 1,200,000 Options. The Options are
valid until 24 January 2028 and have
an exercise price of 6.5 pence per
Ordinary Share and can be exercised on the condition that the
closing average mid-market price of an Ordinary Share exceeds
10 pence per Ordinary Share for 30
consecutive trading days.
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.