16 Jan 2013 07:00
16 January, 2013
PRESIDENT ENERGY PLC
("President" or "the Company")
Board Appointments
President is pleased to announce the strengthening of its Board. Miles Biggins and Richard Hubbard, both existing members of senior management, will join the Board with immediate effect. Miles will join the Board as Commercial Director and Richard will be maintaining his current role as Chief Operating Officer following his appointment to the Board.
Dr Richard John Hubbard
Dr Hubbard, aged 62, joined President in 2012 as Chief Operating Officer. He is a graduate of Stanford University, California and has 38 years' experience in the international exploration and production business having served in a wide range of leadership positions within British Petroleum, Statoil and Monument Oil & Gas.
During his time at British Petroleum, Richard served as Chief Geologist, Head of Commercial & Strategic Planning in the Corporate Centre, and latterly as BP Amoco's President in Brazil. Richard led exploration teams that discovered more than fifteen billion barrels in all the major worldwide hydrocarbon provinces accessible to the industry at the time.
At Statoil he served on the Board as Executive Vice President with responsibility for the rapidly growing international E&P portfolio in West Africa, Algeria, the Middle East, Russia and Venezuela which during his time increased production to over 100,000 boepd. President notes that in 2003, during Dr. Hubbard's time at Statoil, the company was fined by the Norwegian police for failing to cancel a contract in compliance with a newly established law. A fine was also announced on Dr. Hubbard, but to date, the fine has never been levied on him. President considers this issue closed.
Following his assignment with Statoil, Richard co-founded Orion California in 2005 and the partnership has been engaged in an active 3D seismic and drilling campaign through a JV with Aera Energy.
Richard currently holds an interest in 300,000 shares in the Company (which shares are registered in the name of Levine Capital Management Limited) and options over 2,297,200 shares in the Company that were granted to him in 2012.
The directorships and partnerships held by Richard now and over the five years preceding the date of appointment are as follows:
Current Directorships Former Directorships
Mintaka International (Oil & Gas) Ltd None
Miles Biggins
Miles, aged 44, joined President in 2011 as EVP Business Development, is a graduate of University College London and is a Petroleum Engineer.
Miles had 15 years of experience with Shell International in a variety of technical and commercial roles, which included extensive international assignments in amongst other places Argentina, Brunei, Oman, Philippines, Norway and the former Soviet Union. Key positions held included petroleum engineer (greenfield, brownfield and exploration assets), field development team leader, business planning, and mergers and acquisitions.
After Shell, Miles joined Northern Petroleum plc as Business Development Manager, where he worked until 2011. Miles was instrumental in Northern's new country entry into the Netherlands, and the building of the Italian and UK asset portfolios. In addition, Miles played a major role in the recruitment of staff, building operatorship capability, developing HSE management systems and co-ordinating reservoir studies and external reserves audits.
Current Directorships Former Directorships
President Petroleum SA Northern Petroleum Nederland Ltd.
President Petroleum Company Holdings B.V.
Miles currently holds 103,602 shares in the Company and options over 2,400,000 shares in the Company that were granted to him in 2011.
Save as set out above, there is no additional information relating to Dr Hubbard and Mr Biggins under Rule 17 or Schedule 2 paragraph (g) of the AIM Rules for Companies.
For further information contact:
President Energy PLC
John Hamilton, CEO +44 (0) 207 811 0140
Ben Wilkinson, Finance Director +44 (0) 207 811 0140
RBC Capital Markets
Jeremy Low, Matthew Coakes, Daniel Conti +44 (0) 207 653 4000
Jefferies Hoare Govett
Simon Hardy, Max Jones +44 (0) 207 029 8316
Pelham Bell Pottinger +44 (0) 207 861 3232
Mark Antelme, Henry Lerwill