FOGL.L Regulatory News (FOGL)

4 Jan 2006 09:00

Falkland Oil and Gas Limited04 January 2006 Wednesday 4 January 2006 Falkland Oil and Gas Limited("FOGL" or "the Company") Chief Executive Appointment FOGL, the oil and gas exploration company operating in the undrilled South andEast Falkland Basins, announces the appointment of Tim Bushell as ChiefExecutive, effective 16 January 2006. On 22 December, the Company announcedthat John Armstrong, the founding Chairman of the company, was retiring asChairman to be replaced by Richard Liddell, who became Non-Executive Chairman on1 January 2006. Tim Bushell (46) joins FOGL from Paladin Resources plc where he has beenManaging Director, Norway, since 2001. Tim joined Paladin from Lasmo where heworked for 10 years, including spells as Manager of Lasmo's North Sea assets andGeneral Manager of its South Atlantic business unit, which included the drillingcampaign in the North Falklands Basin in 1998. Prior to joining Lasmo, Timspent time at Ultramar, British Gas and Schlumberger. A qualified geologist, hehas a total of 23 years experience in the oil and gas industry. John decided to step down as Executive Chairman at the end of 2005 having beeninvolved with FOGL since its establishment. John is based in Australia, and, asthe growing potential of the licences became apparent, the Board felt that theCompany needed a full time chief executive and a UK-based chairman. John isremaining on the Board as a non-executive director to ensure continuity ofcontact with all stakeholders, particularly with the Falkland Islands'Government. Richard Liddell, Chairman of FOGL, said: "We have steadily strengthened the management team at FOGL in line with thegrowing potential of our licences. With the opportunity now far bigger thanoriginally envisaged, it was clear that the Company needed a full time chiefexecutive. Tim brings with him international exploration and developmentexperience and knowledge of the Falklands. I am confident that Tim and the teamwill be able to capitalise on the momentum that FOGL has already established." Enquiries: FOGL 020 7563 1260 Richard Liddell College Hill 020 7457 2020 Ben Brewerton There is no further information required to be disclosed in respect of the aboveappointment pursuant to schedule two paragraphs (f) of the AIM rules. www.fogl.co.uk This information is provided by RNS The company news service from the London Stock Exchange