Phoenix Global Resources PLC Board Changes (4034H)
November 15 2018 - 1:01AM
UK Regulatory
TIDMPGR
RNS Number : 4034H
Phoenix Global Resources PLC
15 November 2018
15 November 2018
Phoenix Global Resources plc
("Phoenix" or the "Company")
Board Changes
Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream
oil and gas company, which offers its investors exposure to
Argentina's Vaca Muerta shale formation and other unconventional
resources, announces a change to the composition of the Board.
Under the Relationship Agreement between Upstream Capital,
Mercuria EAM and Mercuria EG, as more fully described in the
Admission Document dated 24 July 2017, the Mercuria Group currently
has the right to appoint two directors to the Board. Matthieu
Milandri and Guillaume Vermersch are the current appointees. With
effect from 14 November 2018 Guillaume Vermersch has stepped down
from the Board to be replaced by Daniel Jaeggi as one of the
Mercuria Group appointees. Daniel is co-founder and President of
Mercuria Energy Group Limited.
In addition, we are also pleased to announce the appointment of
Tim Harrington as a Non-executive director with effect from 14
November 2018. Tim Harrington has over 37 years of oil and gas
experience and spent 31 years with BP PLC in various commercial,
financial, and operating leadership positions around the globe
including postings in Houston, Anchorage, London, and Bogota. In
his final two roles with BP, he served as CFO and President of BP
America Production Company, BP's onshore business focused on
unconventional resources. Since leaving BP, he has been working
with private equity and various start-ups in the US and currently
serves as a Senior Energy Advisor to Trilantic Capital Partners,
Mercuria Energy Trading, and Bayswater Exploration &
Production.
Sir Michael Rake, Chairman of Phoenix said:
We would like to thank Guillaume for all he has contributed to
Phoenix over the time he has been a director and would like to
welcome to the Board Daniel, who brings a wealth of experience to
Phoenix as one of the co-founders of the Mercuria Group and Tim,
who brings a vast amount of experience from his time at BP."
Additional information to be disclosed pursuant to Schedule 2(g)
and Rule 17 of the AIM Rules:
Daniel Jaeggi, Non-executive director, aged 57 years.
Daniel is currently a director/partner of the following
companies:
- MDJ Partnership DMCC
- Mercuria Energy Trading S.A.
- Mercuria Energy Group Holdings S.A.
- Mercuria Energy Group Limited
Daniel has been a director of the following companies during the
previous five years:
- Mercuria Energy Trading PTE Ltd.
- Mercuria Energy Trading B.V.
- Orchard Petroleum Pty Ltd.
- Eskdale Petroleum Inc.
- Eskdale Petroleum Pty Ltd.
Daniel has an indirect interest in the Company via Mercuria
Energy Group Holding Ltd which holds approximately 84.4% of the
Company's issued share capital.
Tim Harrington, Non-executive director, aged 60 years.
Tim is currently a director/partner of the following
companies:
- TRP Energy LLC
- Energyflo Chemical Application
- TimKat Properties LLC
- TimKat Resources LLC
- JackLo Investments LLC
Tim has been a director of the following companies during the
previous five years:
- BP America Inc.
- BP America Production Company
- Texas Oil & Gas Association (TXOGA)
- Greater Houston Partnership (GHP)
Other than the information contained within this announcement,
there is no further information required to be disclosed under Rule
17 and Schedule Two paragraph (g) of the AIM Rules.
Ends
For further information, please contact:
Phoenix Global Resources Sir Michael Rake, T: +44 20 3912 2800
plc Chairman T: +54 11 5258 7500
Anuj Sharma, CEO
Stockdale Securities Antonio Bossi T: +44 20 7601 6100
Ed Thomas
Panmure Gordon Adam James T: +44 20 7886 2500
Charles Lesser
Camarco Billy Clegg T: +44 20 3757 4980
Owen Roberts
James Crothers
About Phoenix
Phoenix Global Resources is a London Stock Exchange (AIM: PGR)
and Buenos Aires Stock Exchange (BCBA: PGR) listed independent
Argentina focused oil and gas exploration and production company.
The Company has over 6.3 million licenced working interest acres in
Argentina (of which over 5 million are operated), 57.2 million boe
of working interest 2P reserves and average production of
approximately 11,070 working interest boepd in 2017. Phoenix has
significant exposure to the unconventional opportunity in Argentina
through its more than 560,000 working interest acres with Vaca
Muerta potential.
The Company's website is www.phoenixglobalresources.com
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END
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