Gulfsands Petroleum PLC Board Appointments (0266M)

TIDMGPX

RNS Number : 0266M

Gulfsands Petroleum PLC

10 October 2016

GULFSANDS PETROLEUM PLC

Board Appointments

10 October 2016

Gulfsands Petroleum plc ("Gulfsands", the "Group" or the "Company" - AIM: GPX), the oil and gas company with activities in Syria, Tunisia, Colombia and Morocco, is pleased to announce the appointment of Mr Michael Kroupeev and Mr Richard Milne as Non-Executive Directors of the Company with immediate effect.

A short biography of each of Mr Kroupeev and Mr Milne is detailed below.

Mr Michael Kroupeev

Mr Kroupeev has 21 years' experience working within the exploration and production sector. After University in both Russia and the United Kingdom, he began his career working for Dana Petroleum plc as a Director in 1994. In 1995, Mr Kroupeev founded Waterford Finance and Investment Limited ("Waterford"). Waterford is an oil and gas focused vehicle, specialising in the financing of oil, gas and other energy related projects in emerging markets. He has been directly involved in the capital raising for natural resource projects and in acquiring, restructuring, developing and divesting such assets. Waterford has a number of substantial shareholdings in oil and gas companies with operations in Europe, Africa, North America and Australasia, and holds a 37.32 per cent. interest in the Company.

Mr Richard Milne

Mr Milne was most recently Group Head of Legal and Commercial Affairs at Petrofac Limited ("Petrofac"), from which he retired in 2015. Mr Milne joined Petrofac in 2004 with responsibility for advising on the legal and commercial aspects of the group's activities. Mr Milne was heavily involved in Petrofac's successful admission to listing on The London Stock Exchange in 2005 and in developing the group's governance and compliance framework. Prior to joining Petrofac, Mr Milne spent some 15 years in corporate finance after working in the insurance brokerage industry. Mr Milne is a graduate of Oxford University and qualified as a solicitor.

For further information, please refer to the Company's website at www.gulfsands.com or contact:

 
Gulfsands Petroleum Plc                        +44 (0)20 7464 4490 
John Bell, Managing Director 
 Andrew Morris, Finance Director 
 James Ede-Golightly, Non-Executive Chairman 
 
Cantor Fitzgerald Europe 
 Sarah Wharry 
 Craig Francis                                 +44 (0)20 7894 7000

In accordance with the AIM Rules, the following information required to be disclosed is set out below. Other than this information, there is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.

Mr Michael Kroupeev

 
 Full name and age:       Mikhail (Michael) Kroupeev, 
                           aged 50 
-----------------------  ------------------------------- 
 Current beneficial       194,042,618 ordinary shares 
  shareholding in the      (37.32%) through Waterford 
  Company:                 Finance and Investment 
                           Limited 
-----------------------  ------------------------------- 
 Current Directorships:   Waterford Finance and 
                           Investment Limited 
                           Waterford Petroleum Ltd 
                           Waterford Management Services 
                           Ltd 
                           Star Capital Research 
                           Ltd 
                           WF Invest Ltd 
                           Sterling Energy plc 
-----------------------  ------------------------------- 
 Former Directorships     None 
  (previous 5 years): 
-----------------------  -------------------------------

Mr Richard Milne

 
 Full name and age:       Richard Gordon Milne, 
                           aged 61 
-----------------------  ---------------------- 
 Current beneficial       Nil 
  shareholding in the 
  Company: 
-----------------------  ---------------------- 
 Current Directorships:   None 
-----------------------  ---------------------- 
 Former Directorships     KRRM 2 Ltd 
  (previous 5 years):      Camstent Ltd 
-----------------------  ----------------------

Certain statements included herein constitute "forward-looking statements" within the meaning of applicable securities legislation. These forward-looking statements are based on certain assumptions made by Gulfsands and as such are not a guarantee of future performance. Actual results could differ materially from those expressed or implied in such forward-looking statements due to factors such as general economic and market conditions, increased costs of production or a decline in oil and gas prices. Gulfsands is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 10, 2016 02:00 ET (06:00 GMT)

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