PROVIDENCE RES. Providence Resources P.L.C. Announces Leadership Change
December 06 2019 - 1:00AM
UK Regulatory
TIDMPVR
This announcement contains inside information within the meaning of the
EU Market Abuse Regulation 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in the
public domain.
Providence Resources P.l.c. announces Leadership change
Dublin and London -- December 6, 2019 - Providence Resources P.l.c.
("Providence" or the "Company"), the Irish based Energy Company, today
announces that Tony O'Reilly has stepped down from the position of Chief
Executive Officer of the Company and has resigned from the Board (and
all subsidiaries) with immediate effect. The Board has initiated a
process to identify and recruit a new Chief Executive Officer to lead
Providence in its next phase of development, and a further announcement
will be made as soon as this process is completed. Mr. O'Reilly has
agreed to work with the Board, to the extent required, until the end of
January 2020 to ensure an orderly transfer of his responsibilities. In
the interim, his executive functions will be assumed on a temporary
basis by Pat Plunkett, Chairman.
Pat Plunkett, Chairman of Providence, commented:
"Since the foundation of the Company, Tony has been the main driver
behind the development of the business and has been passionate in
promoting the Company's role in oil and gas exploration in the Irish
offshore sector. Over the years, Tony led the Company into partnerships
with some of the world's leading energy companies including ExxonMobil,
Eni, Chevron, Repsol, Petronas and Total. A major milestone during his
tenure at Providence was the successful drilling and testing of Barryroe
located in the North Celtic Sea Basin which has provided the Company
with a world class development asset which is capable of providing
significant shareholder value in the coming years.
Tony leaves by mutual and amicable agreement and has the great
appreciation of the Board for his management of Providence through
multiple E&P cycles. On behalf of all of Providence's stakeholders, I
would like to thank Tony for his many years of dedication and hard work
at Providence and I wish Tony every success in his future endeavours".
Tony O'Reilly added:
"After more than two decades with Providence, it is time for me to
pursue new opportunities. I am extremely proud of all that we have
achieved over the years and the key role that our collective team
efforts at Providence have played in establishing interest in Ireland's
offshore arena. I wish all stakeholders in Providence every success in
the years ahead, particularly with the Barryroe Project."
ENQUIRIES
---------------------------
Providence Resources P.l.c. Tel: +353 1 219 4074
Pat Plunkett, Chairman
Cenkos Securities plc Tel: +44 131 220 9771
Neil McDonald/Derrick Lee
J&E Davy Tel: +353 1 679 6363
Anthony Farrell
Mirabaud Securities Limited Tel: + 44 20 3167 7221
Peter Krens
MEDIA ENQUIRIES
---------------------------
Powerscourt Tel: +44 207 250 1446
Peter Ogden
Murray Consultants Tel: +353 1 498 0300
Pauline McAlester
ANNOUNCEMENT & FORWARD-LOOKING STATEMENTS
This announcement contains certain forward-looking statements. Actual
results may differ materially from those projected or implied in such
forward-looking statements. Such forward-looking information involves
risks and uncertainties that could significantly affect expected
results. No representation is made that any of those statements or
forecasts will come to pass or that any forecast results will be
achieved. You are cautioned not to place any reliance on such statements
or forecasts. Those forward-looking and other statements speak only as
at the date of this announcement. Providence Resources P.l.c undertakes
no obligation to update any forward-looking statements.
ABOUT PROVIDENCE RESOURCES PLC
Providence Resources is an Irish based Energy Company with a portfolio
of appraisal and exploration assets located offshore Ireland.
Providence's shares are quoted on the AIM in London and the Euronext
Growth Market in Dublin. Further information on Providence can be found
on
https://www.globenewswire.com/Tracker?data=W8BalEG2Y8FROZq7Fkl3BKDsvYj3LpSqRrScJ2fNLihVhAStqUP25Y442pTv1sUTMqsXWYgafUGfpWAtzpYcDwl2NzwjHbW1wflA2pDYWnOshNZQxWkJlQF1N7VJyBsE
www.providenceresources.com
(END) Dow Jones Newswires
December 06, 2019 02:00 ET (07:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Providence Resources (LSE:PVR)
Historical Stock Chart
From Apr 2024 to May 2024
Providence Resources (LSE:PVR)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Providence Resources Plc (London Stock Exchange): 0 recent articles
More Providence Resources Plc News Articles