9 Nov 2010 07:00
9 November 2010
Sterling Energy Plc ("Sterling" or the "Company") is pleased to announce the following board and management appointment effective today:
Mr Angus MacAskill has been appointed Chief Executive Officer ("CEO") and a director of Sterling; Alastair Beardsall who has been undertaking the role of CEO will continue to be Sterling's Executive Chairman and will reduce his working time commitment accordingly.
Mr MacAskill graduated from Edinburgh University in 1981 with a B.Sc. Degree in Physics. Later the same year he started his oil industry career with Schlumberger, the integrated oil field service company, working on international assignment in Africa for 5 years. He then returned to full time education and graduated from Heriot-Watt University, Edinburgh, in 1987 with an M.Eng. Degree in Petroleum Engineering.
In 1987, Angus joined Mobil Oil and, during his 10 year employment with the company, held a number of production, reservoir engineering and managerial posts in London, Aberdeen and Stavanger. During his time with Mobil, Angus also continued his professional development and in 1996 graduated with an M.B.A. from Aberdeen University.
Angus joined Enterprise Oil in 1997 and, during his 5 years there, rose to the position of Vice President for Business Development (USA). In 2002, Shell acquired Enterprise Oil and Angus elected to leave and return to UK where he was appointed Vice President with Waterous & Co., providing advisory services in the acquisition and divestment of oil and gas assets.
In 2004, Angus was appointed an executive director of Elixir Petroleum Ltd, with responsibility for the company's business development activities focused in the UK North Sea.
Angus joined Emerald Energy in 2006 as Chief Operating Officer and in December of that year was appointed Chief Executive Officer. During the following three years, the company experienced material growth following exploration successes in its assets in South America and the Middle East, prior to being acquired by Sinochem in 2009.
Alastair Beardsall, Sterling's Chairman commented
"I am very pleased to welcome Angus as a member of the board and as our CEO. Angus and I have worked together previously and I look forward to the addition of his broad oil and gas experience, excellent business skills, and clear focused leadership that will strengthen our ability to manage our existing exploration portfolio and identify new venture opportunities. "
For further information contact:
Sterling Energy Plc (+44 20 7405 4133)
Alastair Beardsall, Executive Chairman
Angus MacAskill, Chief Executive Officer
Web site: www.sterlingenergyplc.com
Evolution Securities (+44 20 7071 4300)
Rob Collins
Chris Sim
There is no information in relation to the appointment of Angus MacAskill (aged 51) which is required to be disclosed pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies other than as follows:
Current Directorships
Holros Limited
Past Directorships
Emerald Energy plc
Emerald Energy (Syria) Limited
Emerald Energy Peru A Limited
Emerald Energy Peru B Limited
Dijla Petroleum Company
SNG Overseas Limited
Elixir Petroleum Limited
Elixir Petroleum (UK) Limited
The separation of the roles of Chairman and CEO is in compliance with the UK Corporate Governance Code published by the Financial Reporting Council.