Appointment of Retained Advisor

16 January 2018

Spinnaker Opportunities Plc

("Spinnaker" or "the Company")

Appointment of Retained Advisor

Spinnaker Opportunities Plc (LON: SOP), the standard listed cash shell established to make a material acquisition in the energy or industrial sectors, is pleased to announce that John Ashbridge has been appointed as a Retained Advisor to the Company.

John Ashbridge is currently the Founder and Managing Director of Monthoux Energy Sàrl, a Swiss private firm that specialises in providing services to the international oil and gas industry. Mr Ashbridge started his career in the seismic industry before moving on to BP Exploration plc, Occidental Petroleum Corp, Elf Enterprise plc and Lundin Petroleum AB. During the span of his career, as a practising geoscientist, Mr Ashbridge has established himself as a proven oil finder having been instrumental in discovering new reserves in the North Sea, Iraq and Kenya. He has also been a company director and executive officer of a number of private and public companies including Granite Rock Ltd, ShaMaran Petroleum Corp (CVE: SNM) and Caribbean Americas Energy Ltd.

Mr Ashbridge has an MSc in Petroleum Geology (University of Aberdeen), a BSc (Hons) in Geophysics (University of Liverpool) and has been a member of the European Association of Geoscientists and Engineers since 1986, serving as an EAGE Distinguished Lecturer from 2000 to 2001.

Mike Doherty has stepped down from his role as a Retained Advisor, due to other commitments however still remains as a significant shareholder of the Company and will continue to provide his consultancy services as he is able.

The role of the Retained Adviser is to advise the Board on a discretionary, part-time consultancy basis as the Board assesses potential Acquisitions. In common with the Directors, Retained Advisers will not receive any fees for their ordinary duties prior to the completion of an Acquisition transaction.

Spinnaker Chairman, Andy Morrison, commented:

"It is with great pleasure that we welcome John Ashbridge to Spinnaker as a Retained Advisor to the Company. John's vast knowledge of the international oil and gas industry and M&A experience greatly adds to Spinnaker's ability to identify and analyse near term potential targets as we continue look to deliver our strategy.

"We would also like to take this opportunity to thank Mike for his considerable contribution to the Company since its listing last year, and look forward to continuing to work with him as a significant shareholder of Spinnaker".

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement. 

PROFILE

Mr John Ashbridge

John Ashbridge has over 20 years of oil and gas experience having worked as a qualified petroleum geoscientist at BP Exploration plc, Occidental Petroleum Corp, Elf Enterprise plc and Lundin Petroleum, and as a company director and executive officer at Granite Rock Ltd, ShaMaran Petroleum Corp (CVE: SNM) and Caribbean Americas Energy Ltd. Mr Ashbridge is currently the founder and Managing Director of Monthoux Energy Sàrl providing advisory, acquisition and divestment services to the oil and gas industry. Monthoux Energy has been a principal in creating upstream producing, development and exploration companies in the Kurdistan Region of Iraq, Myanmar and the Greater Caribbean.

Mr Ashbridge has an MSc in Petroleum Geology (University of Aberdeen), a BSc (Hons) in Geophysics (University of Liverpool) and has been a member of the European Association of Geoscientists and Engineers since 1986, serving as an EAGE Distinguished Lecturer from 2000 to 2001.