14 Mar 2018 07:00
14 March 2018
PRESIDENT ENERGY PLC
("President", "the Company" or "President Energy")
DIRECTOR APPOINTMENTS
President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce the following appointments to its Board of Directors.
Rob Shepherd, formerly non-executive director, has been appointed Group Financial Director, an important executive role as the Company continues its rapid growth. Amongst other previous roles, Rob was finance director of Dominion Petroleum Limited as well as a non-executive of Imperial Energy PLC, before which he was an oil and gas banker with ABN Amro for almost ten years.
Alexander Charles Moody-Stuart joins the President Board as an independent non-executive director. Alex recently left Schlumberger after 29 years. A graduate of Imperial College, London, Alex started at Schlumberger as a field engineer spending subsequent years in senior managerial roles in South America and latterly as VP Business Development and New Ventures managing Business Development for Production Management worldwide.
Peter Levine, Chairman and CEO, commented
"I am pleased that Rob has agreed to step-up to an executive role on the Board where he will make a necessary and more active contribution to ensuring we deliver on our future plans.
I am highly delighted that Alex has agreed to join the Board. He brings with him independence, objectivity, a wealth of knowledge and experience and a great reputation in our industry and will be an asset for President Energy and its shareholders."
Contact:
President Energy PLC Peter Levine, Chairman, Chief Executive
|
+44 (0) 207 016 7950
|
finnCap (Nominated Advisor & Joint Broker) Christopher Raggett, Scott Mathieson, Andrew Burdis
|
+44 (0) 207 220 0573 |
BMO Capital Markets (Joint Broker) Jeremy Low, Neil Haycock, Tom Rider
|
+44 (0) 207 236 1010
|
Camarco Financial PR Billy Clegg, Owen Roberts, Mercedes Valenzuela-Goldman |
+44 (0) 203 757 4980 |
AIM Rules for Companies Schedule 2(g) information:
Alexander Charles Moody-Stuart aged 51 holds or has held the following directorships over the last five years preceding his appointment to the Board of President Energy PLC:
Current Directorships | Directorships held in last 5 years |
Little BlackBrook Limited (England) | Kamana Services (Ecuador) |
Consorcio Shushufindi (Ecuador) |
|
Alexander Charles Moody-Smith holds no shares in President Energy plc.
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 currently has independently assessed 1P reserves in excess of 15 MMboe and 2P reserves of more than 27 MMboe.
The Company has operated interests in the Puesto Flores and Estancia Vieja Concession, Rio Negro Province, in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. The Company is focused on growing production in the near term in 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.
President Energy's third largest shareholder is the IFC, part of the World Bank Group and is 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 and an in-country management team, President Energy gives UK investors rare access to the Argentinian 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