16 Sep 2019 07:00
LEI: 213800AS2I1XUAGQ6F27
16 September 2019
JKX Oil & Gas plc
("JKX" or "the Company")
Directorate Changes
JKX announces that Charles Valceschini, Tony Alves and Rashid Javanshir have been appointed as independent non-executive directors with immediate effect. Mr Valceschini also becomes Chairman of the Board and Mr Alves Senior Independent Director.
Mr Valceschini has worked in the oil and gas sector for nearly 40 years and currently specialises in the provision of technical and commercial advice to a wide range of upstream oil and gas companies. Mr Valceschini was previously engaged in technical and leadership roles by a range of companies including BP, TNK-BP and other international upstream companies. During 2000 and 2001 he was CEO and CFO of American Energy Group Limited. Mr Valceschini has a degree in Petroleum Engineering from the University of Wyoming, an MSc in Engineering Management from Portland State University and is an alumnus of the INSEAD Executive Management programme and Moscow School of Management at Skolkovo Project Academy.
Mr Alves has worked in the oil and gas sector for over 30 years. From January 2009 until June 2016 he served as an Executive Director and Chief Financial Officer for AIM Listed Volga Gas plc, with whom he remains as a consultant. Previously he was one of the leading equity analysts covering the sector including periods as Head of Oil and Gas research for Peel Hunt and with Investec, Bell Group International and Schroders. Mr Alves read Mathematics at Cambridge University, both as an undergraduate and a post-graduate research student.
Dr. Rashid Javanshir worked at BP for over 20 years in senior management roles including Senior Vice President for Strategy & Integration in Global Upstream, London (2012 - 2015) and Regional President for Azerbaijan - Georgia - Turkey (2009 -2012). He also led BP's Southern North Sea Gas Operations in 2003-2006. Dr. Javanshir is a distinguished scientist with more than 150 books and papers published internationally. He holds a PhD in Geophysics from Moscow Gubkin University and a Doctoral Degree in Geology and Mineralogy from the Institute of Geology in Baku. He has completed management programmes in several US Universities, and is an alumnus of Harvard Business School.
There are no other matters which require disclosure under Listing Rule 9.6.13R.
The board currently consists of Tony Alves, Michael Bakunenko, Viktor Gladun, Rashid Javanshir and Charles Valceschini.
Charles Valceschini, incoming Chairman, said: "I look forward to leading the Company into a new phase, delivering strategic and operational focus and continuing to ensure good corporate governance in the interests of all shareholders".
ENDS
JKX Oil & Gas plc +44 (0) 20 7323 4464
Ben Fraser, CFO
EM +44 (0) 20 7002 7860
Stuart Leasor, Jeroen van de Crommenacker