26 Jun 2008 12:23
26 June 2008
FORTUNE OIL PLC
("Fortune Oil" or the "Company")
Appointment of Executive Directors
Fortune Oil PLC is pleased to announce the appointment of two Executive Directors with immediate effect following the Board meeting held on 25 June 2008.
Mr. Tian Jun, aged 50, has been with the Fortune Oil Group since April 1999 and is based in Beijing. He acted as General Manager of Maoming King Ming Petroleum Company, Deputy General Manager of South China Aviation Oil Company and became Chief Operating Officer in February 2006. He is also now the President of Fortune Gas distribution. He received a degree from Peking University and a PhD from the University of London. Prior to joining Fortune Oil, Dr. Tian worked in the City of London and he also worked in the China's State Price Bureau and State Planning Commission for six years.
There are no matters requiring disclosure in respect of Dr Tian's appointment under paragraph LR 9.6.13R of the Listing Rules of the UK Listing Authority.
Mr. Ye Qing, aged 41, has been with the Company since 2000 as General Manager of the trading department and is responsible for all trading activities including the oil and petrochemical product. His work further develops Fortune's business relationships with Sinopec, CNPC/PetroChina and other oil companies. He graduated from the University of International Business and Economics in Beijing and worked in Sinochem in Beijing for a few years prior joining Fortune Oil.
There are no matters requiring disclosure in respect of Mr Ye's appointment under paragraph LR 9.6.13R of the Listing Rules of the UK Listing Authority.
Mr. Qian Benyuan, Chairman of Fortune Oil, commented:
"We are delighted to welcome Tian Jun and Ye Qing to the Board. They have a deep understanding of Fortune Oil's operations having managed key areas of the Company and they will bring to the Board considerable knowledge and experience. Fortune Oil is even better placed to make further inroads into China's energy sector".
Enquiries:
Fortune Oil PLC
John Pexton - Deputy Chief Executive Tel: 00 852 2583 3113 (Hong Kong)
Pelham Public Relations
Archie Berens Tel: 020 7743 6679 or 07802 442 486
Robert Koh Tel: 020 3170 7444
FTO.L (FTO)