22 Apr 2013 07:00
22 April 2013
CIRCLE OIL PLC
("Circle" or the "Company")
Appointment of Non-Executive Director
Circle Oil Plc (AIM: COP) the international oil and gas exploration, development and production company, is pleased to announce the appointment of Dr. Keith Adams Morris as a Non-Executive Director with effect from today.
Dr. Morris (age 59) studied Geology at the University of Bristol and subsequently gained a PhD at Reading University. Initially working with British Gas on its Wytch Farm and Morecambe Bay projects, Dr. Morris moved to Kerr McGee Oil UK as Senior Geologist where he evaluated their North Sea portfolio and was responsible for making applications under UK licensing rounds.
In 1984, he joined Lasmo as a Senior Explorationist - New Ventures and was responsible for the technical and economic evaluation of projects on a global basis, including a major gas discovery in Pakistan. Dr. Morris moved to the City in 1987 working initially at stockbrokers Carr, Kitcat & Aitken as an Oil Analyst looking after the UK E&P sector before becoming Senior Oil Analyst in charge of their pan-European coverage. In 1993, he became Head of European Oil & Gas equity research at Schroder Securities.
In 1996, Dr. Morris moved to BNP Paribas as head of Oil & Gas equity research. In 2004, he joined Evolution Securities plc as Director of Oil & Gas equity research where he was responsible for publishing research on the UK E&P and services sectors, and helped raise more than £500m for clients. He continued in the same role following the acquisition of Evolution Group plc by Investec Bank plc and is currently retained as a consultant by Investec following his retirement at the end of 2012. Dr. Morris is also a Non-Executive Director of Sefton Resources Inc.
Commenting on the appointment, Thomas Anderson, Chairman of Circle, said:
"I am delighted to welcome Keith to our Board and look forward to working with him to further advance the Company. He has significant technical and City experience in the oil and gas industry and will further strengthen our Board as we all work together to achieve our goals."
Save as set out below, there is no further information required to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules.
Current Directorships and Partnerships Held
Plus 8 Consulting LimitedWarfield Group LimitedWarfield Woodland LimitedWarfield Homes LimitedWarfield Park Homes Limited
Sefton Resources Inc.
For further information contact:
Circle Oil Plc (+44 (0)20 7638 9571)
Thomas Anderson, Chairman
Investec (+44 (0)20 7597 5970)Chris SimNeil Elliot
Liberum Capital Limited (+44 (0)20 3100 2222)Simon Atkinson
Citigate Dewe Rogerson (+44 (0)20 7638 9571)Martin JacksonJack Rich
Murray Consultants (+353 1 498 0320)Joe MurrayJoe Heron
Notes to Editors
Circle Oil Plc (AIM: COP) is an international oil & gas exploration, development and production Company holding a portfolio of assets in Morocco, Tunisia, Oman, and Egypt with a combination of low-risk, near-term production, and significant upside exploration potential. The Company listed on AIM in October 2004.
Internationally, the Company has continued to expand its portfolio over the past years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia; the Grombalia Permit in northern Tunisia, and the Zeit Bay area of Egypt. Circle also has the largest licensed acreage of any company in Oman. In addition to its prospective Block 52 offshore, Circle has an ongoing exploration programme in Block 49 onshore.
Circle's strategy is to locate and secure additional licences in prospective hydrocarbon provinces and, through targeted investment programmes, monetise the value in those assets for the benefit of shareholders. This could be achieved through farm-outs to selected partners who would then invest in and continue the development of the asset into production, or Circle may opt to use its own expertise to appraise reserves and bring assets into production, generating sustained cash flow for further investment.
Further information on Circle is available on its website at www.circleoil.net.