8 Oct 2015 09:00
8 October 2015
CIRCLE OIL PLC
("Circle" or the "Company")
Directorate Change
Circle Oil plc (AIM:COP) the international oil and gas exploration, development and production company advises that Mark Eric Williams (42) has been appointed to the Board of Directors as the nominee of KGL Investment Group, following the resignation of Mohamad Sultan.
Mark is the Chief Executive Officer of KGL Investment Asia, part of the Kuwait based KGL Investment Group, a Kuwait based investment house, which he joined in 2007. He has over twenty years of experience in operational and financial management, logistics operations, company restructurings, acquisitions and strategic planning with extensive experience in the infrastructure, energy, real estate and logistics industries.
A former investment banker, Mark is a Certified Public Accountant, with an MBA from the Weatherhead School of Management, a Juris Doctorate from Case Western Reserve University and undergraduate degrees in Accounting and Finance.
Commenting on the appointment of Mr Williams to the Board, Circle's Chairman, Mr Steve Jenkins said:
"I thank Mohamad Sultan for his contribution to Circle Oil and wish him well in future endeavours. I am pleased to welcome Mark to our Board and look forward to working with him to further advance the Company."
Save as set out below there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules;
Current Directorships | Directorships in past 5 years |
Petra Homes, Inc | The Pointe at Wadsworth |
William Land Holdings | Damietta International Port Corporation |
Williams Property Holdings | Negros Navigation |
Jordan Land Holdings | The 2 Go Group, Inc. |
Caliber Holdings | GGDC Holdings Company Caymans |
Global Gateway Development Corporation Caymans | |
KGLI Advisory Services Caymans | |
KGL Investment Company Asia (Caymans) | |
GGLC Logistics Park Corporation | |
GGLC Business Park Corporation | |
GGLC Town Center Corporation | |
GGLC Aeropark Corporation | |
GGLC Services Corporation |
For further information contact:
Circle Oil Plc (+44 20 7182 4913)
Mitch Flegg, CEO
Investec (+44 20 7597 5970)Chris SimGeorge Price
James Rudd
Citigate Dewe Rogerson (+44 20 7638 9571)Martin JacksonShabnam Bashir
Murray Consultants (+353 1 498 0300)Joe Heron
Pat Walsh
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, 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 assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Beni Khalled permit in northern Tunisia, the Mahdia Permit offshore Tunisia and the NW Gemsa permit in Zeit Bay area of Egypt.
Circle Oil'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 Oil 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 Oil is available on its website at www.circleoil.net.