15 Dec 2008 12:49
15 December 2008
Volga Gas plc ("the Company")
Directorate Change
Volga Gas plc ("Volga Gas") the independent gas exploration and production company operating in the Volga region of European Russia today announces the appointment of Antonio ("Tony") Maria Alves age 49 to the Board of Volga Gas as Chief Financial Officer, effective 12 January 2009. Tony will replace Alistair Stobie who has decided to leave to pursue other business interest effective 31 December 2008.
Tony has over 20 years of oil and gas banking experience, most recently as oil and gas analyst and sector leader at KBC Peel Hunt. Tony was responsible for covering the UK mid-tier oil and gas sector. Tony has a degree in Mathematics from Cambridge University.
In the last five years, Tony has served and remains on the board of Ikon Science Ltd. In relation to the appointment of Tony Alves, there are no further disclosures to be made pursuant to Paragraph G of Schedule 2 of the AIM Rules.
Alistair's decision to resign is based upon his desire to pursue other business interests based in the United Kingdom after over a decade of living and working in Russia.
Mikhail Ivanov, Chief Executive Officer, commented:
"Tony Alves experience and understanding of, and contacts in the industry will be invaluable to the Company as it enters an exciting period in its history. I would like to personally thank Alistair for his dedication and commitment to the early years of the Company and wish him well in the future."
Ends
For additional information please contact:
| Financial Dynamics |
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| Billy Clegg Edward Westropp Alex Beagley |
| +44 (0)20 7269 7157 +44(0)20 7269 7230 +44 (0)20 7269 7207 |
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| KBC Peel Hunt (Nominated Adviser) |
| +44 (0)20 7418 8900 |
| Jonathan Marren Matt Goode |
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