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17 Sep 2010 07:00
17 September 2010
PRESIDENT PETROLEUM COMPANY PLC
("President Petroleum" or "the Company")
Directorate Change
President Petroleum (AIM: PPC), the oil and gas exploration and production company with producing assets on-shore in the USA and exploration licences in Australia, announces that Chris Hopkinson has resigned as a Non-Executive Director ("NED") of the Company and will step down from the Board prior to the end of September 2010.
Chris has recently been appointed to a senior executive position with a large, listed international oil and gas company and his new responsibilities create the potential for a conflict of interest with his duties as a NED of President Petroleum.
The Board has begun the process of finding a suitable candidate to replace Chris and a further announcement will be made in due course.
Stephen Gutteridge, Chairman of President Petroleum, said:
"We are delighted for Chris in his new appointment, and fully understand the need for him to step down. The Board would like to thank him for his contribution to President Petroleum and wish him well for the future."
- Ends -
For further information contact:
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President Petroleum Company |
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Stephen Gutteridge, Chairman |
+44 (0) 207 811 0140 |
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John Hamilton, Non-executive Director |
+44 (0) 207 036 9369 |
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Evolution Securities |
+44 (0) 207 071 4300 |
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Robert Collins, Adam James, Tim Redfern |
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Financial Dynamics |
+44 (0) 207 831 3113 |
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Ben Brewerton/Ed Westropp |
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