Magnolia Petroleum Plc / Index: AIM /
Epic: MAGP / Sector: Oil & Gas
23 February 2017
Magnolia Petroleum
Plc (‘Magnolia’ or ‘the Company’)
Board Changes
Magnolia Petroleum Plc, the AIM quoted US focused oil and gas
exploration and production company, announces that non-executive
Chairman Thomas Wagenhofer has
resigned from the Company to concentrate on his other business
commitments.
Ron Harwood, an existing
non-executive Director of Magnolia, will assume the position of
Chairman of the Company on an interim basis until a permanent
replacement has been appointed. Mr Wagenhofer has agreed to a
one month handover to ensure an orderly transition.
The information contained within this announcement constitutes
inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014.
* * ENDS * *
For further information on Magnolia Petroleum Plc visit
www.magnoliapetroleum.com or contact the following:
| Steven Snead |
Magnolia Petroleum Plc |
+01918449 8750 |
| Rita Whittington |
Magnolia Petroleum Plc |
+01918449 8750 |
| Jo Turner / James
Caithie |
Cairn Financial Advisers
LLP |
+44207213 0880 |
| Colin Rowbury |
Cornhill Capital Limited |
+44207710 9610 |
| Lottie Brocklehurst |
St Brides Partners Ltd |
+44207236 1177 |
| Frank Buhagiar |
St Brides Partners
Ltd |
+44207236
1177 |
Notes
Magnolia Petroleum Plc is an AIM quoted, US focused, oil and gas
exploration and production company. Its portfolio includes
interests in 154 producing and non-producing assets, primarily
located in the highly productive Bakken/Three Forks Sanish
hydrocarbon formations in North
Dakota as well as the oil rich Mississippi Lime and the
substantial and proven Woodford
and Hunton formations in Oklahoma.
Summary of Wells
| Category |
Number of wells |
| Producing |
154 |
| Being drilled / completed |
14 |
| Elected to participate / waiting to
spud |
42 |
| TOTAL |
210 |