Appointment of Non-Executive Director (8671L)
August 08 2011 - 2:00AM
UK Regulatory
TIDMCOP
RNS Number : 8671L
Circle Oil PLC
08 August 2011
8 August 2011
CIRCLE OIL PLC
("Circle" or the "Company")
Appointment of Non-Executive Director
Circle Oil Plc (AIM: COP) the international oil and gas
exploration, development and production company, is pleased to
announce the appointment of Mr. Nicholas John Clayton as a
Non-Executive Director with effect from today.
Mr Clayton (48) has provided strategic and corporate finance
advice to a number of public and private oil and gas companies
since January 2007. He began his career at BP having obtained a
first class honours degree in Business Studies, sponsored by BP,
from Portsmouth Polytechnic in 1985. He was Global Head of Oil and
Gas Corporate Finance for Dresdner Kleinwort Benson from 2000 to
2005 having previously been Global Head of Energy Research between
1997 and 2000. Between August 2005 and December 2006 he was Global
Co-Head of Oil and Gas Corporate Finance for Canaccord Adams (now
Canaccord Genuity).
Mr Clayton is currently Chairman of Bridge Resources Corp., a
Canadian listed company with operations in the North Sea and North
America. He also provides strategic advice to Geopark, an
AIM-listed company operating in Chile and Argentina. He is an
independent Non-Executive Director at Sterling Energy Plc since
2009 and is the current Chairman of their Audit Committee.
Commenting on the appointment, Thomas Anderson, Chairman of
Circle, said:
"I am delighted to welcome Nicholas to our Board and look
forward to working with him to further advance the Company. He has
significant experience of both the oil and gas industry and the
capital markets and will strengthen our Board as we all work
together to achieve our goals."
Save as set out below, there is no further information required
to be disclosed under paragraph (g) of Schedule 2 of the AIM
Rules.
Current Directorships:
Chairman, Bridge Resources Corporation
Non-Executive Director, Sterling Energy Plc
Former directorships and partnerships in the past 5 years:
Artumas Group (2008-2010)
Arawak Energy (2007-2009)
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
Thomas Anderson, Chairman
Evolution Securities (+44 20 7071 4300)
Chris Sim
Neil Elliot
Fox-Davies Capital (+44 20 3463 5010)
Daniel Fox-Davies
Richard Hail
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
Kate Lehane
Murray Consultants (+353 1 498 0320)
Joe Murray
Joe Heron
Notes to Editors
Circle Oil Plc
Circle Oil Plc (AIM: COP) is an international oil & gas
exploration, development and production Company with an expanding
portfolio of assets in Morocco, Tunisia, Oman and Egypt with a
combination of low-risk near-term production and significant
exploration upside potential. The Company listed on AIM in October
2004.
Internationally, the Company has continued to expand its
portfolio over the past 2 years and now has assets in the Rharb
Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the
Mahdia Permit offshore Tunisia; the Grombalia Permit in northern
Tunisia and the Zeit Bay area of Egypt. Circle also has the largest
licence holding of any company in Oman. In addition to its
prospective Block 52 offshore, the Company also has an ongoing
exploration program in Block 49 onshore.
The Company's strategy is to locate and secure additional
licenses in prospective hydrocarbon provinces and through targeted
investment programmes, monetise the value in those assets for the
benefit of shareholders. This could be achieved through farm-outs
to selected partners who would then invest in and continue the
development of the asset into production, or Circle may itself opt
to use its own expertise to appraise reserves and bring assets into
production, generating sustained cash flow for further
investment.
Further information on Circle is available on its website at
www.circleoil.net.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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