13 Nov 2013 09:58
13 November 2013
Fortune Oil PLC
("Fortune Oil" or the "Company")
Resignation of Chief Executive
The board of directors (the "Board") of Fortune Oil hereby announces that Mr. Tee Kiam Poon ("Mr. Tee") has resigned as an Executive Director of the Company to be effective from 31 December, 2013and he will cease to hold the office of the Chief Executive of the Company with effect from 1 January 2014. Mr. Tee confirmed that he has no disagreement with the Board and the Company and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.
The Board is considering the structure of the management of the Company following the completion of the China Gas transaction andwill announce the new Chief Executive appointment as soon as it has been decided.
The Board would like to take this opportunity to thank Mr. Tee for his effort andvaluable contribution during the tenure of his office.
For further information please contact:
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Fortune Oil PLC Bill Mok - Chief Financial Officer
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Tel: (+852) 2583 3120
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Pelham Bell Pottinger Archie Berens |
Tel: (+971/0) 55 559 7407 |
Background on Fortune Oil
Fortune Oil is a leading independent energy company engaged in the investment and operations of oil and natural gas supply projects in the People's Republic of China. Fortune Oil has acquired a unique portfolio of high quality oil and natural gas projects across the country and has formed a strong partnership with domestic and international market leaders. Fortune Oil recently started an expansion outside the PRC securing resource projects. Fortune Oil is listed on the Main Market of the London Stock Exchange with its operational headquarters in Hong Kong.