Circle Oil Plc Regulatory News (COP)

7 Nov 2006 09:21

Circle Oil PLC07 November 2006 7th November 2006. Circle Oil plc ("Circle" or the "Company") BOARD CHANGE Circle Oil plc, the international oil & gas exploration and development companywith a growing portfolio of assets in Morocco, Namibia, Oman and Panama, todayannounces that Mr. M.J. (Jack) Keyes, Chief Operating Officer, has resigned fromthe board of the Company to pursue other opportunities in the oil and gasindustry. Professor C.D. Green, a director of Circle since September 2005, takes overresponsibility for the technical affairs of the Company. He is based at theCompany's new UK office in Wokingham, Berkshire. David Hough, CEO of Circle commenting on the departure of Mr Keyes thanked himfor his contribution to the Company during its development over the past numberof years and wishes him well in the future. Enquiries (+44 20 7638 9571): Circle Oil plc (+44 20 7638 9571) David Hough, CEO Citigate Dewe Rogerson (+44 20 7638 9571) Media enquiries: Martin Jackson Analyst enquiries: Nina Soon Note to Editors Circle Oil is an international oil and gas exploration and development companywith existing licence operations in Oman, Namibia, Morocco and Panama. Itsstrategy is to locate and secure licences and through targeted investmentprogrammes, monetise the value in those assets for the benefit of shareholders.This will be achieved through farm-outs to selected partners who can then investin and continue the development of the asset into production. In low risk,near-term projects Circle may itself opt to use its own expertise to appraisereserves and bring assets into production, generating long term cash flow forfurther investment. The company listed on AIM in October 2004. This information is provided by RNS The company news service from the London Stock Exchange