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5 May 2010 07:00
PETROCELTIC INTERNATIONAL PLC
BOARD CHANGES
Petroceltic International plc ("Petroceltic" or "the Company") the independent oil & gas exploration company focussed on the Middle East-North Africa (MENA) and Mediterranean region today announces the appointment of Dr. Robert Arnott as non-executive chairman of the Company, with immediate effect. Dr. Arnott joined the board in January of this year as senior non-executive director.
Dr. Arnott succeeds Andrew Bostock as chairman. Mr Bostock will continue to serve on the Board of the Company as a senior non-executive director.
Brian O'Cathain, Petroceltic's chief executive, paid tribute to Mr. Bostock stating: "Andy has contributed substantially to the growth of the Company both in his role as chairman and as a non-executive director. The Board is delighted that he will continue to contribute to the Company's development in the role of senior non-executive director. Dr Arnott's wide commercial, technical and market knowledge, and in particular his understanding of oil and gas in the Middle East and North Africa will be of significant benefit to the ongoing growth and development of the Company."
Dr. Arnott previously held the positions of chairman of DNO UK Ltd and head of the advisory board of DNO ASA when DNO entered into its international ventures in Yemen and Kurdistan. He joined the industry as an exploration geologist with Shell International, following which he spent 10 years working as an oil sector investment analyst with a number of investment banks in the City of London. He is a geologist and energy economist with over 25 years experience of working in the oil industry.
Press Enquiries to:
Brian O'Cathain/ Alan McGettigan, Petroceltic International Tel: +353 (1) 421 8300
Philip Dennis /Klara Kaczmarek, Pelham Bell Pottinger Tel: +44 20 7337 1516
Joe Murray / Joe Heron, Murray Consultants Tel: +353 (1) 4980300
Hugh McCutcheon / John Frain, Davy Tel: +353 (1) 679 6363
Notes to Editors:
Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on the Middle East, North Africa and Mediterranean area, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's IEX Market. The Company has exploration and appraisal assets in Algeria, Tunisia and Italy. Petroceltic is in a unique position in Algeria, operating a significant licence in partnership with Sonatrach the National Oil Company of Algeria, and is the only AIM listed company to enjoy this position
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