TIDMZOL

RNS Number : 5369S

Zoltav Resources Inc

22 December 2016

22 December 2016

Zoltav Resources Inc.

("Zoltav" or the "Company")

Appointment of non-executive director

Zoltav (AIM:ZOL), the Russia-focused oil and gas exploration and production company, is pleased to announce the appointment, with immediate effect, of Lea Verny as a non-executive director of the Company.

Ms Verny joins the board as an independent non-executive director and brings to the Company significant and high level corporate finance experience, with particular expertise in Russia.

Since 2008, Ms Verny has acted as an independent financial adviser on cross-border transactions. Prior to becoming an independent consultant, Ms Verny served as a private banker with Banque Pictet, Switzerland, where she was responsible for developing the bank's activities in Russia, following a career of more than a decade with HSBC. From 2001 to 2007, Ms Verny was Head of Investment Banking for HSBC Bank plc in Moscow, during which time she advised on structured transactions for large Russian and CIS corporations including Lukoil, Rostelekom, Eastern Oil Company and Rosbank. Between 1997 and 2001, Ms Verny was a representative of HSBC Investment Bank plc in Russia, where she was responsible for establishing the bank's presence in the country and developing opportunities specifically within the oil and gas sector. Ms Verny holds a Bachelor's degree in Statistics and International Relations from the Hebrew University in Jerusalem as well as an MBA from INSEAD in France.

Marcus Rhodes, Non-executive Chairman, commented:

"We are delighted to welcome Lea Verny to the board. She has both relevant and high level experience within our country and sector of operation and we look forward to her contribution to the ongoing development of Zoltav's prospects."

AIM Rule 17

Save for the information above and below, there are no further disclosures to be made in accordance with Rule 17, Schedule Two (g) of the AIM Rules for Companies in respect of the appointment of Lea Verny, aged 51.

Current Directorships/Partnerships

Cleveland BioLabs, Inc. (USA)

Contacts:

 
Zoltav Resources Inc.           Tel. +44 (0)20 
                                 7830 9704 
Marcus Rhodes, Non-executive    (via Vigo Communications) 
 Chairman 
 
Shore Capital (Nomad and        Tel. +44 (0)20 
 Joint Broker)                   7408 4090 
Toby Gibbs or Mark Percy 
 (Corporate Finance) 
Jerry Keen (Corporate Broking) 
 
Panmure Gordon (Joint Broker)   Tel. +44 (0)20 
                                 7886 2500 
Adam James or Tom Salvesen 
 
Vigo Communications             Tel. +44 (0)20 
                                 7830 9704 
Patrick d'Ancona or Ben Simons  zoltav@vigocomms.com

About Zoltav

Zoltav is an oil and gas exploration and production company focused on Russia.

Zoltav holds the Bortovoy Licence in the Saratov region of South Western Russia, a 3,215 square kilometre area along the northern margin of the Pre-Caspian basin, one of the largest hydrocarbon basins in the CIS.

The Bortovoy Licence contains a number of productive gas fields, a processing plant and significant exploration prospectivity. It holds Proved plus Probable reserves of 750 bcf (21.2 bcm) of gas and 3.8 mmbbls (488 mT) of oil and condensate. In 2015, the Bortovoy Licence produced approximately 3.1 mmboe (440 mToe).

Zoltav also holds the Koltogor E&P Licence, a 528 square kilometre area in the Khantiy-Mansisk Autonomous Okrug of Western Siberia, one of Russian's most prolific oil producing regions. The Koltogor E&P Licence contains the Koltogor oil field with Proved plus Probable reserves of 79.2 mmboe (10.3 mToe).

Additionally, Zoltav holds Koltogor E&P Licence 10, a 167 square kilometre area due west of the Koltogor E&P Licence, containing the West Koltogor oil field.

For further information on Zoltav or to sign up for our news alert service visit: www.zoltav.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 22, 2016 03:31 ET (08:31 GMT)

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