Bahamas Petroleum Company PLC Appointment of Non-Executive Director (8719W)
August 24 2020 - 1:00AM
UK Regulatory
TIDMBPC
RNS Number : 8719W
Bahamas Petroleum Company PLC
24 August 2020
24 August 2020
Bahamas Petroleum Company plc
("BPC" or the "Company")
Appointment of Non-Executive Director
BPC, the Caribbean and Atlantic margin focused oil and gas
company, with exploration, production, appraisal and development
assets across the region , is pleased to announce that, further to
the completion of the recent merger with Columbus Energy Resources
plc ("Columbus"), Mr. Leo Koot has been appointed to the board of
directors of the Company (the "Board") as a Non-Executive Director,
with immediate effect. Mr. Koot has been appointed as a sitting
member of the Board's HSE Committee and Audit Committee.
Additional Information on Mr. Leo Willem Koot (Aged 57)
Mr. Koot has over 31 years' experience in the Energy sector and
has a Master's in Petroleum Engineering and a business
accreditation from Harvard Business School. During his extensive
career, he has run oil and energy businesses as well as been an
active board member, including his current role as Senior
Independent Non-Executive Director with Sterling Energy plc.
Leo's global energy experience includes his role as Managing
Partner of MENA Gulf Investment Partners (Abu Dhabi), President of
Abu Dhabi National Energy Company (TAQA Iraq) and Managing Director
of TAQA UK, where he built the organisation from a few people to an
organisation of over 2,000 staff and contractors and delivered a
mature E&P operating company that managed 60,000 barrels/day
production with US$1.7 billion in annual revenues. Prior to TAQA,
Leo was CEO of Energy Development Partners, an oil and gas business
creating ways to match capital and resources with developing
production.
The following additional information is provided in accordance
with paragraph (g) of Schedule Two of the AIM Rules for
Companies:
Current Directorships Past Directorships (last
five years)
MENA Gulf Investment Partners Columbus Energy Resources
Tulip Oil B.V. plc
Sterling Energy plc
Compania Petrolifera de
Sedano SL
Mr. Koot is currently interested in 19,224,107 ordinary shares
in BPC. As announced on 5 August 2020, until such time as the
Goudron EPSC is entered into, which is expected will occur in the
ordinary course of business, BPC and Columbus's former management
agreed to delay the issuance of the further, in aggregate,
25,562,167 New BPC Shares due to Columbus's former management,
pursuant to their respective settlement and termination
arrangements, as set out in Columbus's Scheme Document. Mr. Koot is
entitled to 8,579,079 of these New BPC Shares. A further
announcement will be made when these New BPC Shares are to be
issued.
Other than the information contained within this announcement,
there is no further information required to be disclosed pursuant
to Schedule 2(g) of the AIM Rules for Companies.
Defined terms used but not defined in this announcement have,
unless the context requires otherwise, the meaning given to them in
Columbus's Scheme Document, a copy of which, is available on the
BPC website at www.bpcplc.com .
Bill Schrader, BPC Chairman said:
"I would like to extend a very warm welcome to Leo to the Board
of BPC. Leo brings a wealth of experience in both the broader
industry and specifically with regards to the assets which we have
recently acquired through the merger with Columbus. His insight
will no doubt prove invaluable as we seek to integrate the combined
business and progress the development of our broadened portfolio of
assets."
For further information, please contact:
Bahamas Petroleum Company plc Tel: +44 (0) 1624
Simon Potter, Chief Executive Officer 647 882
Strand Hanson Limited - Nomad Tel: +44 (0) 20
Rory Murphy / James Spinney / Jack Botros 7409 3494
Shore Capital Stockbrokers Limited - Joint Tel: +44 (0) 207
Broker 408 4090
Jerry Keen / Toby Gibbs
Investec Bank Plc - Joint Broker Tel: +44 (0) 207
Chris Sims / Rahul Sharma 597 5970
CAMARCO Tel: +44 (0) 20
Billy Clegg / James Crothers / Hugo Liddy 3757 4983
Notes to editors
BPC is a Caribbean and Atlantic margin focused oil and gas
company, with a range of exploration, appraisal, development and
production assets and licences, located offshore in the waters of
The Bahamas and Uruguay, and onshore in Trinidad and Tobago, and
Suriname. BPC is currently on-track for drilling an initial
exploration well in The Bahamas, Perseverance #1, in late 2020 /
early 2021, with the well targeting recoverable P(50) prospective
oil resources of 0.77 billion barrels, with an upside of 1.44
billion barrels. In Trinidad and Tobago, BPC has five producing
fields, two appraisal / development projects and a prospective
exploration portfolio in the South West Peninsula. BPC's
exploration licence in Uruguay is highly prospective, with a
potential resource of 1 billion barrels of oil equivalent. In
Suriname, BPC has an onshore appraisal / development project.
BPC is listed on the AIM of the London Stock Exchange. www.bpcplc.com
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOADZGZRFMMGGZM
(END) Dow Jones Newswires
August 24, 2020 02:00 ET (06:00 GMT)
Challenger Energy (LSE:CEG)
Historical Stock Chart
From Apr 2024 to May 2024
Challenger Energy (LSE:CEG)
Historical Stock Chart
From May 2023 to May 2024