Independent Oil & Gas PLC Board and Management Changes (5595Q)
September 13 2017 - 2:01AM
UK Regulatory
TIDMIOG
RNS Number : 5595Q
Independent Oil & Gas PLC
13 September 2017
13 September 2017
Independent Oil and Gas plc
Board and Management Changes
Independent Oil and Gas plc ('IOG' or the 'Company) (AIM:
IOG.L), the development and production focused oil and gas company,
is pleased to announce the appointment of James Chance as Chief
Financial Officer, effective immediately.
James joined IOG in July 2015 and was most recently IOG's
Commercial Director working extensively on IOG's financing,
business development and commercial activities. He has a strong
energy financing background having formerly been a director in the
Oil & Gas team at Standard Chartered Bank and holds an MBA from
the London Business School, a BA from Oxford University and a PhD
from London University. James has not been appointed as a director
of the Company.
Hywel John, the current CFO of IOG has agreed to step down as a
director and has resigned from the IOG board with immediate effect
to pursue other interests.
The IOG SNS Project team is being strengthened by Ian Pollard
who has joined as IOG's HS & E Manager and Jonathan Walker who
joins at the beginning of October as Engineering Manager. Ian and
Jonathan will work directly with Graham Cox, IOG's SNS Project
Manager.
Mark Routh, CEO and Interim Executive Chairman commented:
"I am delighted to announce the appointment of James Chance to
CFO. He is an experienced member of the team with knowledge of the
company's finances, strategy and assets and a strong track record
in energy financing. I also welcome Ian Pollard and Jonathan Walker
to the Southern North Sea Project Team - these are key appointments
as we continue to build our high-quality team to deliver the
project and create value for all stakeholders. On behalf of the IOG
Board of directors I would like to thank Hywel for his contribution
to the Company and wish him well for the future.
"Significant progress with development funding and contractor
discussions has been made over the summer, while our dynamic
reservoir modelling work on the Vulcan Satellites hub assets was
being completed. We are now moving towards final selection of
contractors and submission of the Vulcan Satellites Development
Plan, with publication of new CPRs on the Blythe and Vulcan
Satellites hubs also expected in the coming weeks. We look forward
to making further announcements soon."
-ENDS-
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
Independent Oil and Gas plc +44 (0) 20 3879
Mark Routh (CEO) 0510
finnCap Ltd
Christopher Raggett / Anthony
Adams +44 (0) 20 7220
(Corporate Finance) 0500
Camarco +44 (0) 20 3757
Georgia Edmonds / Tom Huddart 4980
Notes
About Independent Oil and Gas:
IOG owns substantial low risk, high value gas resources in the
UK Southern North Sea. The Company is targeting 170 MMcfd gas
production from its current portfolio of 500 BCF (88 MMBoe) via an
efficient gas hub strategy. Alongside this it continues to pursue
value accretive acquisitions, to generate significant shareholder
returns. All of IOG's licences are owned 100% and operated by
IOG.
Further information can be found on
www.independentoilandgas.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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