Sodra Petroleum AB - Re Directorate
September 29 1998 - 10:11AM
UK Regulatory
RNS No 6412q
SODRA PETROLEUM AB
29th September 1998
DR. ROGER CAIRNS INVITED TO BECOME A NON EXECUTIVE
DIRECTOR OF SODRA PETROLEUM AB ("SODRA")
Dr Roger Cairns has been invited to become a Non-Executive
Director of Sodra, effective from 2nd October,following
the company's EGM.
Dr Cairns, aged 55, has over 30 years experience in the
Oil & Gas Industry, seven of which were as Managing
Director of Hardy Oil & Gas plc ("Hardy") which he helped
float on the London Stock Exchange in 1989. Hardy was
formed through the demerger of Trafalgar House's oil and
gas interests. Its principal areas of activity are the
United Kingdom, Australia, Pakistan and India and its
current market capitalisation is over #218 million.
Since leaving Hardy Oil & Gas in 1997, Dr Cairns has
remained active in the industry. He is currently
Chairman & Chief Executive of CEDAR International
Limited, a new concept oil company, founded with
professional colleagues. He is a fellow of the Royal
Society of Chemistry and a Chartered Chemist having spent
21 years with British Petroleum before helping found
Trafalgar House's Oil & Gas Division. In addition, Dr
Cairns is a fellow of the Institute of Petroleum and a
member of The Society of Petroleum Engineers.
Sodra, whose convertible shares are quoted on the
Alternative Investment Market ("AIM") of the London Stock
Exchange and the New Market of the Stockholm Stock
Exchange, was formed in 1998 when Swedish company Lundin
Oil AB transferred its Falklands drilling licence into
the new company coinciding with a placing of AIM quoted
convertible shares. The company has commenced
exploratory drilling on its first well following
encouraging reports from two of the three wells already
drilled offshore the Falklands.
Following Dr Cairns' appointment, further details will be
announced in accordance with rule 16.19(c) of the AIM
rules for companies.
Enquiries to:
Magnus Nordin
Managing Director
Sodra Petroleum Tel: 0046 8 440 5450
Simon Rothschild/Judith Parry
Millham Communications Tel: 0171 256 5756
END
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