6 Dec 2010 07:00
For Immediate Release
6 December 2010
SOLO OIL PLC
("Solo" or the "Company")
Board Appointment
The Board of Solo is pleased to announce the appointment of Mr. Neil Ritson as Executive Director to the Company with immediate effect. Mr. Ritson has extensive experience in the energy sector with a distinguished record of delivery in exploration technology, exploration discoveries, major construction projects and in M&A transactions.
Mr. Ritson has over 30 years' experience working in the energy industry including 23 years with BP plc where he held roles as International Chief Geophysicist and Strategic Business Unit Manager in both Norway and Alaska. In 1999 he was appointed to run the Burlington Resources Inc. businesses in North Africa before becoming Vice President UK in 2001 and VP International in 2003. Mr. Ritson founded an energy sector consultancy business in 2004 before being recruited as Chief Executive Officer of Regal Petroleum plc in July 2006. He resigned from Regal in late 2007 and founded Vanguard Energy. He is also Chief Executive Officer of UK AIM Listed Leni Gas & Oil Plc, a director of PetroEnergy Limited and Enovation Resources Ltd and the Chairman of Trustees of the Kensington Symphony Orchestra.
David Lenigas, Chairman, commented
"I am delighted to welcome Neil to the Board of Solo where his skills and experience in the oil and gas sector will assist Solo to develop its portfolio and extend the Company's strategy."
Neil Ritson, age 54, is or has been a director of the following companies during the previous five years:
Current | Past |
NR Global Consulting Limited | Regal Petroleum Plc |
Petroenergy Limited | Regal Egypt Limited |
Vanguard Energy Limited | Regal Group Services Limited |
Vanguard Energy Services Limited | Regal Liberia Limited |
VE Resources Limited | Regal Energy Limited |
Vanguard Energy (Tees) Limited | Eurotech S.A. |
Enovation Resources Ltd | Regal Hellas S.A. |
Leni Gas & Oil Plc | Regal Petroleum Corporation Limited |
Regal Petroleum (Jersey) Limited |
As part of his remuneration, Mr Ritson has been granted 40 million options to subscribe for ordinary shares in the Company at an exercise price of 0.5 pence per share that expire on 21 December 2012.. He currently holds no ordinary shares in the Company.
There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule Two paragraph (g) of the AIM Rules.
Enquiries:
Solo Oil plc
David Lenigas
Tel +44 (0) 20 7016 5103
Beaumont Cornish Limited
Roland Cornish
Tel +44 (0) 20 7628 3396