Appointment of new Directors (6154E)

TIDMSAC

RNS Number : 6154E

SacOil Holdings Limited

11 April 2011

Embargoed 7am Monday 11 April 2011

SACOIL HOLDINGS LIMITED

("Sacoil")

APPOINTMENT OF NEW DIRECTORS

The board of directors of SacOil Holdings Limited ("the Board") is pleased to announce the appointment of, Mr. John William Sharp Bentley and Mr. James William (Bill) Guest as non-executive directors, with effect from 1 May 2011.

John Bentley has 40 years' experience in the natural resources sector and holds a degree in Metallurgy from Brunel University. He is an experienced board member being a past Managing Director of Gencor's Brazilian mining company, Sao Bento Mineracao, Chief Executive of Engen's Exploration & Production division and was instrumental in floating Energy Africa Limited on the JSE Limited ("JSE") where after he became the Chief Executive for the following five years. More recently John was Executive Chairman of First Africa Oil plc. He currently holds various board positions for a number of resource companies including Faroe Petroleum plc, Scotgold Resources Limited, Wentworth Resources Limited, Resaca Exploitation Inc. and Kea Petroleum plc. John will serve as Chairman of the Audit and Remuneration Committees of the Board, and as member of the Risk Committee of the Board.

Bill Guest has over 35 years of international exploration and production experience within the oil industry, in technical, business development and senior management functions. He has 14 years' experience as a board member of London E&P companies with front line involvement in corporate and strategic development. He spent his formative years as a geologist and petroleum engineer with Shell International in Europe, the Far East and West Africa. On leaving Shell, Bill joined the board of Monument Oil and Gas plc as Technical Director, and latterly Business Development Director, positions he held until Monument's sale to Lasmo. More recently, Bill was Managing Director of Endeavour Norge AS and subsequently President of Gulf Keystone Petroleum Limited. He is a founding partner of Guest & Associates a business development consultancy service for the upstream oil and gas industry. He is a non-executive director of Hurricane Exploration plc and Matra Petroleum plc. Bill will serve as Chairman of the Risk Committee of the Board and as member of the Remuneration and Audit Committees of the Board.

SacOil Chief Executive Officer, Robin Vela, on behalf of the Board, takes this opportunity to welcome John and Bill to the Board and believes that their wealth of global experience and skills combined with their extensive operational experience will be a significant asset to the Company. Their appointment will further enhance the Company's vision to become a Pan African upstream oil and gas company.

Sacoil also announces that it has appointed Standard Bank as its sponsor on the Johannesburg Stock Exchange.

Contacts

 
 Sacoil 
  Carina de Beer                 +27 11 575 7232 
 finnCap Ltd 
  (Nominated Adviser) 
  Matthew Robinson/Ed Frisby    +44 20 7600 1658 
 Tavistock Communications 
  (Public Relations) 
  Jos Simson/ Edward Portman    +44 20 7920 3157

Mr. John William Sharp Bentley, aged 63, has been a director or partner of the following companies or partnerships in the last five years:

 
 Current Directorships             Past Directorships 
 Balmuir Estates Nominees Ltd      Osprey Oil & Gas Ltd 
 Balmuir Estates Farming           Adastra Minerals Inc 
 Faroe Petroleum plc               Vanco Energy Company 
 Kea Petroleum plc                 FirstAfrica Oil plc 
 Ptarmigan Natural Resources Ltd   Rift Oil plc 
 Resaca Exploitation Inc           Composite Energy Ltd 
 Scotgold Resources Ltd            CDS Oil & Gas Group plc 
 Thombo Petroleum Ltd              LGH (UK) Ltd 
 Wentworth Resources Ltd

Mr. James William Guest, aged 57, has been a director or partner of the following companies or partnerships in the last five years:

 
 Current Directorships       Past Directorships 
 British European Energy     Edgo Energy 
 Guest & Associates          Gulf Keystone Petroleum 
 Hurricane Exploration plc 
 Matra Petroleum

Mr. Bentley and Mr. Guest have each confirmed that there is no additional information to be disclosed in accordance with Schedule 2, paragraph (g) of the AIM rules.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCZMGGDKRFGMZM

Sacoil (LSE:SAC)
Historical Stock Chart
From May 2024 to Jun 2024