MXP.L Regulatory News (MXP)

3 Jan 2008 07:00

Max Petroleum PLC03 January 2008 MAX PETROLEUM PLC (AIM: MXP) APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND RESTRUCTURING OF BOARD OF DIRECTORS 3 January 2008 Max Petroleum Plc ("Max Petroleum" or the "Company"), an oil and gas explorationand development company focused on Kazakhstan, is pleased to announce theappointment of Mark L. Johnson as Chief Executive Officer and a member of theCompany's Board of Directors with effect from 22 January 2008. Mark has over 26 years' experience in the oil and gas sector, including 24 yearswith major oil and gas companies. With degrees in both mechanical and petroleumengineering, Mark has held senior positions with British Gas, Chevron, Texacoand Transworld E&P, with global experience in Kazakhstan, the Middle East, WestAfrica, Trinidad & Tobago, and the United States. Mark was the Managing Directorof the North Buzachi project in Kazakhstan for ChevronTexaco from 1998-2003,where he established the first Texaco subsidiary operating in Kazakhstan,initiated production operations that grew to more than 9,000 barrels of oil perday ("bopd"), secured government approval to further increase production to42,500 bopd and ultimately negotiated the sale of the subsidiary to the ChineseNational Petroleum Company in 2003. Max Petroleum also announced today plans to restructure its Board of Directors.In conjunction with Mark Johnson joining the Company as a Director and CEO, JimJeffs will move to non-executive Chairman of the Board, Lee Kraus and BobHolland will resume their roles as non-executive Directors, and Michael Youngwill join the Board as Finance Director. Messrs. Jeffs, Holland, and Kraus willform an executive committee of the Board, and Mr. Kraus will continue to overseethe Company's farm-out process. The Company will provide the informationrequired to be disclosed under Schedule 2(g) of the AIM Rules for Companies forMessrs. Johnson and Young regarding their appointments to the Company's Board ina separate announcement which will follow as soon as practicable. Jim Jeffs, Executive Chairman, commented: "The appointment of Mark as CEO means that Max Petroleum now has the seniormanagement team in place to implement its ambitious growth plans. We have metthe challenges of 2007. The Company is in as strong a position as ever tocapitalise on its highly prospective assets in Kazakhstan. I am confident Markis the individual to lead us in the exciting period ahead." Enquiries: Max Petroleum PLC Jim Jeffs T: +44 (0)20 7355 9590 Executive Chairman Peter Moss T: +44 (0)7834 572837 Investor Relations Manager Merlin David Simonson T: +44 (0)20 7653 6620 Anca Spiridon Or +44 7831 347222 WH Ireland Ltd Daniel Bate T: +44 (0)161 832 2174 David Youngman This information is provided by RNS The company news service from the London Stock Exchange