Prospex Energy PLC Proposed Independent Non-Executive Director (9245H)
August 09 2021 - 1:00AM
UK Regulatory
TIDMPXEN
RNS Number : 9245H
Prospex Energy PLC
09 August 2021
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and
Gas
9 August 2021
Prospex Energy PLC ('Prospex' or the 'Company')
Proposed Independent Non-Executive Director Appointment
Prospex Energy PLC, the AIM quoted investment company focused on
European gas and power projects, is pleased to announce that it
intends to appoint Mr Alasdair Buchanan, a highly experienced
upstream oil and gas professional, to the Board of Prospex as an
independent Non-Executive Director.
Alasdair's appointment as a director is conditional on the
satisfactory completion of the Company's nominated adviser's due
diligence processes, which are now underway. A further announcement
is expected to be made in this regard in the coming weeks.
Alasdair has 40 years' experience in the upstream oil & gas
industry. Most recently he was Global Energy Director at Lloyds
Register and was Chief Operating Officer and a director of Senergy
Group plc, the global provider of sub-surface drilling and project
management services, responsible for 750 employees. Alasdair was
also a non-executive director of Warrego Energy from 2014-2019
prior to its public listing on the ASX. Alasdair worked for
Halliburton for three years in Aberdeen and Texas, most recently as
Vice President UK and worked for BJ Services for 28 years both in
the UK and internationally.
Alasdair has a BSc (Hons) in Chemical Engineering from the
University of Edinburgh and has been a member of the Society of
Petroleum Engineers since 1984.
Bill Smith, Chairman of Prospex commented:
"Subject to completion of the necessary due diligence process,
we are extremely pleased to welcome Alasdair to the Board of
Prospex. His background in the upstream service industry sector
will bolster the technical and operational capability of the Board.
He also brings a wealth of experience at senior executive and board
director level with multi-national global service companies.
Prospex will continue to develop the existing asset base and take
advantage of new opportunities and Alasdair brings a depth of
experience to the team for the benefit of all shareholders."
This announcement contains inside information.
For further information visit www.prospex.energy or contact the
following:
Mark Routh Prospex Energy PLC Tel: +44 (0) 20 3948
1619
Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer 3494
Rob Patrick
Colin Rowbury Novum Securities Limited Tel: +44 (0) 20 7399
Jon Belliss 9427
Duncan Vasey Peterhouse Corporate Finance Tel: +44 (0) 20 7469
0932
Frank Buhagiar St Brides Partners Ltd Tel: +44 (0) 20 7236
Cosima Akerman 1177
Notes
About Prospex Energy
Prospex Energy PLC is an AIM quoted investment company focussed
on high impact onshore and shallow offshore European gas and power
opportunities. The Company acquires undervalued projects and then
applies low-cost re-evaluation techniques to identify and de-risk
prospects. Prospex currently holds a portfolio of three projects:
the Podere Gallina Permit in Italy where first gas at the Selva
field is targeted for early 2022; the El Romeral gas and power
project in Spain, which includes three producing wells that supply
gas to a 100% project-owned 8.1MW power plant; and the large scale
Tesorillo gas project in southern Spain, which has the potential to
hold gross un-risked Prospective Resources of 830 Bcf of gas (Best
Estimate), with upside in excess of 2 Tcf. The Company's strategy
is to rapidly scale up gas production in the short term to generate
internal revenues that can then be deployed to develop the asset
base and increase production further.
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
BOAUBAWRAOUWRAR
(END) Dow Jones Newswires
August 09, 2021 02:00 ET (06:00 GMT)
Prospex Energy (LSE:PXEN)
Historical Stock Chart
From May 2024 to Jun 2024
Prospex Energy (LSE:PXEN)
Historical Stock Chart
From Jun 2023 to Jun 2024