Circle Oil PLC Appointment of new Chief Executive Officer (5739O)
May 29 2015 - 1:00AM
UK Regulatory
TIDMCOP
RNS Number : 5739O
Circle Oil PLC
29 May 2015
29 May 2015
Circle Oil Plc
("Circle" or the "Company")
Appointment of new Chief Executive Officer
Circle Oil Plc (AIM: COP), the international oil and gas
exploration, development and production company, is pleased to
announce the appointment of Mitchell Robert Flegg (54) as Chief
Executive Officer ("CEO") and a director of the Company with effect
from 1 June 2015.
Mitch has over 33 years' industry experience, spanning a wide
variety of exploration and production projects at all levels; most
recently with Serica Energy Plc ("Serica"), which he joined in 2006
and was responsible for all drilling and development operations. He
was promoted to the position of Chief Operating Officer in March
2011 and joined the Board of Serica in September 2012.
Mitch started his career with Schlumberger Limited and then
moved to Enterprise Oil Plc, where he was responsible for drilling
operations for wells in a variety of countries. After the takeover
by Royal Dutch Shell Plc he worked on the implementation of new
technology in well engineering before moving into asset
management.
Mitch holds a BSc (Hons) Physics, from Birmingham
University.
Commenting on the appointment, Steve Jenkins, Chairman,
said:
"We are delighted to have Mitch as our new CEO and a member of
our board. He brings with him a wealth of experience and a strong
operational mind-set. I am confident that Mitch will make a
significant contribution to the future success of Circle Oil"
Save as set out below, there is no further information required
to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM
Rules:
Current Directorships: Directorships in past 5 years
----------------------- ------------------------------
None Serica Energy Plc
----------------------- ------------------------------
Serica Holdings UK Limited
----------------------- ------------------------------
Serica UK Exploration Limited
----------------------- ------------------------------
Serica Energy (UK) Limited
----------------------- ------------------------------
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
Steve Jenkins, Chairman
Investec (+44 20 7597 5970)
Chris Sim
George Price
James Rudd
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
Shabnam Bashir
Murray Consultants (+353 1 498 0300)
Joe Heron
Pat Walsh
Notes to Editors
Circle Oil Plc (AIM: COP) is an international oil & gas
exploration, development and production company holding a portfolio
of assets in Morocco, Tunisia, Oman, and Egypt with a combination
of producing assets, low-risk, near-term production opportunities,
and significant upside exploration potential. The Company listed on
AIM in October 2004.
Internationally, the Company has continued to expand its
portfolio over the past years and now has assets in the Rharb
Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the
Mahdia Permit offshore Tunisia, and the Zeit Bay area of Egypt.
Circle also has the largest licensed acreage of any company in Oman
with an ongoing exploration programme in Block 49 onshore.
Circle's strategy is to locate and secure additional licences in
prospective hydrocarbon provinces and, through targeted investment
programmes, monetise the value in those assets for the benefit of
shareholders. This could be achieved through farm-outs to selected
partners who would then invest in and continue the development of
the asset into production, or Circle may opt to use its own
expertise to appraise reserves and bring assets into production.
Through either route the objective would be generation of sustained
cash flow for further investment.
Further information on Circle is available on its website at
www.circleoil.net.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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