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7 Sep 2012 09:12
7 September 2012 TANGIERS PETROLEUM LIMITED BOARD CHANGES
Tangiers Petroleum Limited (the Company) is pleased to advise that Eve Howell has been appointed Executive Chairman and Max de Vietri has been appointed as a Non-executive Director.
Ms Eva ("Eve") Alexandra Howell (age 66) had a distinguished career with Australian petroleum exploration and production company, Woodside, where she was Executive Vice President of the North West Shelf project and Chief Executive of the North West Shelf Venture. Ms Howell also held the position at Woodside of Executive Vice President - Health, Safety & Security.
Prior to joining Woodside in 2006, Ms Howell was a senior executive with Apache, holding the positions of Regional Vice President at Apache Corporation and Managing Director of the Australian subsidiary Apache Energy.
Mr Maximillian Francesco de Vietri (Age 59) is a highly experienced geologist who has played a leading role in major petroleum and mineral projects around the world. In particular, he is widely regarded as the person who uncovered Mauritania's petroleum potential. He founded and ran the ASX-listed Baraka Petroleum Ltd, vending in an extensive package of African tenements.
Mark Ceglinski and Graham Anderson have resigned as Executive Chairman and Non-executive Director of Tangiers respectively, effective immediately. Brent Villemarette will continue as an Executive Director of the Company. Ms Howell thanked Mr Ceglinski and Mr Anderson for their contributions to the Company and noted that they had developed and grown the Company to a point where it was now appropriate to hand over to seasoned veterans of the oil and gas industry.
Ms Howell said she looked forward to growing Tangiers into a substantial African petroleum company. "We intend to grow by using our combined skills, experience and contacts to acquire, explore and develop African assets," she said. "I look forward to outlining and implementing our strategy to create significant value for our shareholders."
Ms Howell is currently a Non-executive Director of ASX-listed Downer EDI Ltd and Mermaid Marine Australia Ltd. She is also chairman of EMR Resources Pty Ltd, a Non-executive director of the West Australian Ballet, Ngarluma Yindjibarndi Foundation Ltd and Three Duckettes Pty Ltd and was previously a director of the Fremantle Port Authority.
Mr de Vietri is also currently a Non-executive director of EMR Resources Pty Ltd. It is also noted, pursuant to AIM Rule disclosure requirements, that in April 2008 while Mr de Vietri was Chairman of Baraka Petroleum Ltd, the board decided to place the company into voluntary administration. The voluntary administration was lifted in July 2008 and the company was readmitted to trading on the ASX.
KRYSTEL KIROUJoint Company SecretaryTangiers Petroleum LimitedLevel 6, 5 Mill StreetPerth WA 6000, AustraliaPh: +61 8 9485 0990 www.tangierspetroleum.comContactsRFC Ambrian Limited (Nominated Adviser)Mr Stuart Laing+61 8 9480 2506Old Park Lane Capital PLC (Joint AIM Broker)Mr Michael ParnesMr Luca Tenuta+ 44 20 7493 8188Shore Capital Stockbrokers Ltd (Joint AIM Broker)Mr Jerry KeenMr Bidhi Bhoma+ 44 20 7408 4090
Mr Ed Portman (Media and Investor Relations - United Kingdom) Tavistock Communications +44 20 7920 3150
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