Last checked at 24 Jun 2015 07:00
24 June 2015
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Directorate Changes
Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a growing portfolio of assets in the USA, is delighted to announce that it has appointed Mr Kristian Ewen Ainsworth, 53, as its new Non-executive Chairman with immediate effect, replacing Sir Adrian Blennerhassett, who has resigned in order to focus on his other interests.
Mr Ainsworth is a chartered management account and a fellow of the Institute of Petroleum who brings wide industry experience to his new role. He has worked in the industry for 27 years at various stages of the oil and gas life cycle from exploration to appraisal/development, production and de-commissioning.
Starting his career in the late 1980's at Conoco, Mr Ainsworth's career has included Financial Controller, Financial Director and CFO roles across various public and private companies, including six years as Financial Director of Gulf Keystone Petroleum Limited until 2014. He is currently CFO of CAP Energy Plc, listed on IDSX. In his career he has been involved in companies with assets and operations across the UK, Europe, Russia, Azerbaijan, Iraq and North and West Africa.
CEO, Matt Lofgran, commented "I am delighted to welcome Ewen to the Board and I am sure that his extensive experience will be a strong asset to the Board as we embark on the next level of growth for the Company.
I would like to take this opportunity to thank Sir Adrian for his contribution over the last eight years."
Further details in respect of Ewen Ainsworth, as required pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, are set out below.
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc | +1 480 993 8933 |
Matt Lofgran, CEO | |
mlofgran@ntog.co.uk | |
Sanlam Securities UK Limited (Nominated Adviser & Broker) | 020 7628 2200 |
Lindsay Mair/James Thomas | |
Jamie Vickers (Broking) | |
Walbrook PR Ltd | 07951 603289 |
Gary Middleton (Media Relations) |
Further information required pursuant to Schedule 2 (g) of the AIM Rules for Companies:
Kristian Ewen Ainsworth:
Current Directorships | Previous Directorships
|
Partner Adamant Ventures LLP Adamant Advisors Ltd Discovery Energy Limited | Europa Oil & Gas (Holdings) plc Europa Oil & Gas SRL Gulf Keystone Petroleum Limited Gulf Keystone Petroleum HBH Limited Gulf Keystone Petroleum Numidia Limited Shaikan Petroleum Limited |
Mr Ainsworth does not hold any interest in the ordinary shares of the Company.
As part of his appointment, Mr Ainsworth has been granted warrants to subscribe for up to 16,666,666 ordinary shares of 0.1p each in the Company ("Ordinary Shares") at a price of 0.1754p per Ordinary Share, 8,333,333 of which will vest on 24 June 2016, and 8,333,333 of which will vest on 24 June 2017. The expiration date for all warrants will be 24 June 2020.
In addition it is intended to grant Discovery Energy Limited warrants to subscribe for up to 33,333,334 Ordinary Shares on the same terms to the above, with options over 16,666,667 Ordinary Shares vesting on 24 June 2016 and 16,666,667 on 24 June 2017. Discovery Energy Limited will be a contractor for the provision of certain services to Nostra Terra. Mr Ainsworth is a shareholder and will be an employee of Discovery Energy Limited.
There is no further information to be disclosed under Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.