COP Circle Oil

TIDMCOP

RNS Number : 5776B

Circle Oil PLC

08 January 2015

8 January 2015

Circle Oil Plc

("Circle" or the "Company")

Directorate Change

Appointment of Susan Prior as Group Finance Director

Circle Oil Plc (AIM: COP), the Middle East and North Africa focused oil and gas exploration, development and production company, is pleased to announce the appointment of Susan Margaret Prior, (44), as Group Executive Finance Director with effect from 12 January 2015.

Susan has over 20 years' experience across a number of sectors, including eight years focusing on natural resources. Most recently, since 2012, Susan was a Transaction Services Director at PricewaterhouseCoopers LLP ("PwC") in their Oil and Gas Deals team. Prior to this Susan spent 15 years at Ernst & Young LLP ("EY") during which time she was a senior manager in EY's Perth and London offices, and a Partner/Principal in New York.

Susan is an Associate of the Australian Institute of Chartered Accountants, having qualified with Grant Thornton in 1994. Susan holds a Bachelor of Commerce from the University of Western Australia and a Graduate Diploma of Applied Finance and Investment from the Australian Securities Institute, (now FINSIA).

Commenting on the appointment, Steve Jenkins, Chairman, said:

"I am pleased to announce the appointment of Susan Prior to the board of Circle Oil and delighted to welcome her as the new Group Finance Director. Susan has a wealth of experience in global corporate governance best practice and internal controls and will significantly enhance the Group's finance function."

Save as set out below, there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules:

 
 Current Directorships:   Directorships in past 
                           5 years 
-----------------------  ---------------------- 
                          Avondale Consulting 
                           Solutions Ltd 
-----------------------  ---------------------- 
 

For further information contact:

Circle Oil Plc (+44 20 7638 9571)

Professor Chris Green, CEO

Investec (+44 20 7597 5970)

Chris Sim

George Price

James Rudd

Liberum Capital Limited (+44 20 3100 2222)

Clayton Bush

Citigate Dewe Rogerson (+44 20 7638 9571)

Martin Jackson

Shabnam Bashir

Murray Consultants (+353 1 498 0320)

Joe Murray

Joe Heron

Notes to Editors

Circle Oil Plc (AIM: COP) is an international oil & gas exploration, development and production Company holding a portfolio of assets in Morocco, Tunisia, Oman, and Egypt with a combination of low-risk, near-term production, and significant upside exploration potential. The Company listed on AIM in October 2004.

Internationally, the Company has continued to expand its portfolio over the past years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia, and the Zeit Bay area of Egypt. Circle also has the largest licensed acreage of any company in Oman. In addition to its prospective Block 52 offshore, Circle has an ongoing exploration programme in Block 49 onshore.

Circle's strategy is to locate and secure additional licences 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 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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