RPT.L Regulatory News (RPT)

22 Nov 2007 16:03

Regal Petroleum PLC22 November 2007 Immediate Release 22 November 2007 REGAL PETROLEUM PLC ("Regal" or "the Company") Board Changes The Company announces the appointment of David John Greer, OBE, as Chairman andChief Executive Officer and Antonio Mozetic as non-executive director of theCompany, each with immediate effect. In addition, Hendrikus (Harry) AlardusVerkuil has accepted an appointment to join the Board as an executive directorwith effect from 15 January 2008. In addition, Francesco Scolaro has stepped down as non-executive Chairman of theCompany due to other business commitments but will continue as a non-executivedirector. Neil Ritson has resigned from his position as Chief Executive Officerand director with immediate effect. The Company would like to thank both Mr Scolaro and Mr Ritson for their valuedcontribution during their tenures as Chairman and Chief Executive Officer ofRegal, respectively. David Greer, aged 50, has extensive oil industry experience, having worked forShell International Exploration and Production for 28 years. He has held a widevariety of engineering, production, commercial and senior executive positions inShell's operations in the United Kingdom, the Netherlands, Norway, Canada, Oman,Argentina, the Philippines and latterly as Deputy CEO and Project Director ofthe Sakhalin 2 project in Russia. Mr Greer graduated from the University ofEdinburgh in Civil and Structural Engineering and is a Fellow of the Institutionof Mechanical Engineers. Mr Greer brings to the Company substantial experiencein the management and implementation of large development projects inchallenging environments. Mr Greer also has established a strong network ofcontacts in the global exploration and production contracting industry. Mr Greerwas awarded his OBE in the 2002 New Years honours list. Harry Verkuil, aged 50, has worked for Shell International Exploration andProduction for 25 years in a wide variety of well engineering, operational andmanagement roles in the Netherlands, Brunei, United Kingdom, India and currentlyin Saudi Arabia, where he holds the position of acting operations manager withSouth Rub Al Khali Company Ltd. Mr Verkuil holds a degree in MechanicalEngineering and is a Chartered Engineer. Antonio Mozetic, aged 62, worked for Shell International Exploration andProduction for 30 years during which time he held a variety of technical,commercial and management positions in the Netherlands, Saudi Arabia, thePhilippines, China, Oman, Norway, Nigeria, Venezuela and the UK. Mr Mozetic is ahighly experienced exploration professional and has been actively involvedthroughout his career in the exploration and discovery of a significant numberof oil and gas fields. Mr Mozetic has most recently acted as an independentconsultant and technical advisor to the oil industry and holds a doctorate inGeological Sciences from the University of Buenos Aires. Each of Mr Greer, Mr Verkuil and Mr Mozetic currently have no interest in sharesin the Company. David J Greer OBE commented on his appointment as follows:-"I am very pleased and honoured to be offered this position and to be given theopportunity to participate in the further development of the Company's excitingportfolio of assets, particularly in the Ukraine, where there appear to besignificant reserves and upside potential. I look to forward to building astrong and experienced team to accelerate the development of these assets forthe benefit of all shareholders." There is no information in relation to the appointments detailed herein whichare required to be disclosed pursuant to Rule 17 of the AIM Rules for Companiesother than as follows: David Greer Current Directorships:1 September 2007 - Present CEO and Director Eastern Petroleum Corporation Ltd1 September 2007 - Present CEO and Director North Caspian Petroleum Corporation Ltd Previous Directorships in the past five years:October 2003 - August 2007 Deputy CEO & Phase 2 Project Director, Sakhalin Energy Investment Company, Ltd Yuzhno-Sakhalinsk, RussiaApril 2002 - October 2003 Director of EP Projects, Shell International Exploration & Production B.V. The Hague, NetherlandsApril 1998 - April 2002 Managing Director Shell Philippines Exploration B.V. Manila, Philippines Harry Verkuil Current Directorships:7 April 2005 - Present Kimberley Solutions Limited Antonio Mozetic Current Directorships:April 2005 - Present Harmatan S.A. Consulting The Board of Regal now comprises the following directors: David Greer (Chairman and Chief Executive Officer)Harry Verkuil (Executive Director)Francesco Scolaro (Non-Executive Director)Lord St. John of Bletso (Non-Executive Director)Antonio Mozetic (Non-Executive Director) For further information, please contact: Regal Tel: 020 7408 9500 David Greer, Chairman and Chief Executive Officer Evolution Securities Tel: 020 7071 4300Robert Collins Mirabaud Securities Tel: 020 7321 2508Pav Sanghera Buchanan Communications Tel: 020 7466 5000Bobby MorseBen Willey This information is provided by RNS The company news service from the London Stock Exchange