24 Jun 2020 07:00
24 June 2020
PRESIDENT ENERGY PLC
("President" or the "Company")
DIRECTOR APPOINTMENT
President Energy (AIM: PPC), the energy company with a diverse portfolio of production and exploration assets focused primarily in Argentina announces the appointment of Martin Urdapilleta to the board of the Company as a non-executive director.
Martin, age 41, an Argentine citizen, has some 12 years' experience in the oil and gas industry. After graduating from Instituto Tecnologico de Buenos Aires, Argentina with a Bachelor of Industrial Engineering, Martin commenced work as a Commodity Trader joining Trafigura in 2008, where he is now General Manager of Trafigura Pte Ltd, Argentina.
Martin has been appointed to the board of the Company by Trafigura pursuant to the Subscription Agreement announced on 20 January 2020.
Peter Levine, Chairman, commented:
"We welcome Martin to our Board. He is widely respected in the industry and his positive contribution to our Company is already being felt.
"We very much look forward to working with Martin in the future."
INFORMATION REQUIRED UNDER SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES.
Full name | Martin Urdapilleta | ||
Age | 41 | ||
Current directorships: | |||
Historic directorships | Name | ||
from previous 5 years: | Trafigura Pte Ltd | ||
Sigura Insurance Pte. Ltd. | |||
Tendril Ventures Pte Ltd | |||
Tendril Ventures 2 Pte Ltd | |||
Trafigura Holdings Pte. Ltd. | |||
Trafigura Pte Ltd - Branch Office Panama | |||
Contact:
President Energy PLC Peter Levine, Chairman Rob Shepherd, Group FD
|
+44 (0) 207 016 7950
|
finnCap (Nominated Advisor) Christopher Raggett, Charlie Beeson | +44 (0) 207 220 0500 |
Shore Capital (Corporate Broker) Jerry Keen
|
+44 (0) 207 408 4090 |
Tavistock (Financial PR) Nick Elwes, Simon Hudson | +44 (0) 207 920 3150 |
Notes to Editors
President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets.
The Company has operated interests in the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions, and Angostura exploration contract, all of which are situated in the Rio Negro Province in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.
The Group is also actively pursuing value accretive acquisitions of high-quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support, including the IFC, part of the World Bank Group as well as the international commodity trader and logistics company Trafigura, an in-country management team as well as a Board whose interests are aligned to those of its shareholders, President Energy gives UK investors access to the Argentina energy growth story combined with world class standards of corporate governance, environmental and social responsibility.
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014