PCI.L Regulatory News (PCI)

24 Apr 2007 07:02

Petroceltic International PLC24 April 2007 Petroceltic International plc Appointment of Executive Chairman 24 April 2007 Petroceltic International plc ("Petroceltic" or "the Company"), the upstream oiland gas exploration and production company with headquarters in Dublin, Ireland,listed on the IEX and AIM Markets, and with an operational focus on North Africaand the Mediterranean, is pleased to announce that Mr Brian O'Cathain has beenappointed as a director and Executive Chairman of the Company with immediateeffect. Brian Cusack, the former Executive Chairman of Petroceltic has stepped down fromhis role as chairman but remains on the Board of Petroceltic as a non-executivedirector. Mr O'Cathain (age 47) is a geologist and petroleum engineer with twenty threeyears experience in senior technical and commercial roles in upstream oil andgas exploration and production companies. Prior to joining Petroceltic, he wasthe Chief Executive of AIM listed African exploration and production companyAfren plc, which grew under his leadership to a company with a diversifiedportfolio in a number of African countries. He trained and worked as a PetroleumEngineer with Shell International, and with Enterprise Oil, where he wasprincipally involved with acquisitions and divestments and corporate strategy.Before joining Afren, he was Managing Director of Tullow Oil's internationalbusiness, where he was responsible for the international growth of Tullow, andinvolved in the successful acquisition of Energy Africa. Commenting on the appointments, Brian Cusack, said: "We are delighted to welcome Brian O'Cathain to the Board. Brian is awell-respected figure in the international oil and gas business and his decisionto take up this role as our Executive Chairman is a reflection of the potentialfor growth that he sees in the Company's portfolio. I have been Chairman of Petroceltic since inception, and I am pleased to seethat the Company since its listing has been one of the best performers on theLondon AIM market. It is now time for me to step aside and to place theChairmanship of the Company in new hands, ready to take us forwards to our nextstage of growth" Brian O'Cathain, Executive Chairman of Petroceltic commented: "Petroceltic has the correct building blocks in place to become a leadingindependent oil and gas player in North Africa and the Mediterranean regions; ahighly experienced management team, good regional partners and advisors, astrong exploration and production portfolio, and access to excitingopportunities in the region. I look forward to working with the existingexecutive team and the board in building Petroceltic into a leading independentupstream company in these regions". Ends Press queries to: John Craven / Brian O'CathainPetroceltic International plcTel: +353 (01) 495 9285 Ronnie SimpsonSimpson FT PRTel: +353 (01) 260 5300 Billy CleggFinancial DynamicsTel: +44 (0)207 2697157. Notes to Editors: Petroceltic International plc is a leading Upstream Oil and Gas Exploration andProduction Company, focused on the Mediterranean and North African area, andlisted on the Irish Stock Exchange's IEX Market and the London Stock Exchange'sAIM Market. The company has exploration assets in Algeria, Tunisia and Italy anda royalty interest in the Kinsale Head gas field in Ireland. The following are the directorships and partnerships held by Mr. O'Cathainwithin the past five years: Name of Current Previous Directorships and PartnershipsDirector Directorships and PartnershipsBrian Black Mountain Afren Gabon Limited EnglandO'Cathain Ltd (Ireland) Afren plc England Afren Production & Shipping Limited England Enterprise Energy Ireland Limited Ireland Enterprise Energy Ireland Offshore Inc. Ireland Enterprise Energy Services Limited Jersey Gabon Investment (Iris Marin) Pty Limited Australia Gabon Investment (Themis Marin) Pty Limited Australia PIPCO RSG Limited Ireland Tullow Algeria Limited Jersey Tullow Bangladesh Limited Jersey Tullow Cameroon Limited Jersey Tullow Cote d'Ivoire Exploration Limited Jersey Tullow Cote d'Ivoire Limited Jersey Tullow Egypt Operations Limited Jersey Tullow Gabon Operations Limited Jersey Tullow India Operations Limited Jersey Tullow Oil International Limited Jersey Tullow Pakistan (Developments) Limited Jersey Tullow Romania Limited Jersey Tullow Senegal Operations Limited Jersey Tullow Syria Operations Limited Jersey Zetah Noumbi Limited Bahamas There are no further details that are required to be disclosed pursuant toparagraph (g) of Schedule 2 of the AIM and IEX Rules. This information is provided by RNS The company news service from the London Stock Exchange