Directorate & Management Chan

RNS Number : 8293V

Sterling Energy PLC

09 November 2010

 



9 November 2010

Sterling Energy Plc ("Sterling" or the "Company") is pleased to announce the following board and management appointment effective today:

Mr Angus MacAskill has been appointed Chief Executive Officer ("CEO") and a director of Sterling; Alastair Beardsall who has been undertaking the role of CEO will continue to be Sterling's Executive Chairman and will reduce his working time commitment accordingly.

Mr MacAskill graduated from Edinburgh University in 1981 with a B.Sc. Degree in Physics. Later the same year he started his oil industry career with Schlumberger, the integrated oil field service company, working on international assignment in Africa for 5 years. He then returned to full time education and graduated from Heriot-Watt University, Edinburgh, in 1987 with an M.Eng. Degree in Petroleum Engineering.

In 1987, Angus joined Mobil Oil and, during his 10 year employment with the company, held a number of production, reservoir engineering and managerial posts in London, Aberdeen and Stavanger. During his time with Mobil, Angus also continued his professional development and in 1996 graduated with an M.B.A. from Aberdeen University.

Angus joined Enterprise Oil in 1997 and, during his 5 years there, rose to the position of Vice President for Business Development (USA). In 2002, Shell acquired Enterprise Oil and Angus elected to leave and return to UK where he was appointed Vice President with Waterous & Co., providing advisory services in the acquisition and divestment of oil and gas assets.

In 2004, Angus was appointed an executive director of Elixir Petroleum Ltd, with responsibility for the company's business development activities focused in the UK North Sea.

Angus joined Emerald Energy in 2006 as Chief Operating Officer and in December of that year was appointed Chief Executive Officer. During the following three years, the company experienced material growth following exploration successes in its assets in South America and the Middle East, prior to being acquired by Sinochem in 2009.

Alastair Beardsall, Sterling's Chairman commented

"I am very pleased to welcome Angus as a member of the board and as our CEO. Angus and I have worked together previously and I look forward to the addition of his broad oil and gas experience, excellent business skills, and clear focused leadership that will strengthen our ability to manage our existing exploration portfolio and identify new venture opportunities. "

For further information contact:

Sterling Energy Plc ([phone])

Alastair Beardsall, Executive Chairman

Angus MacAskill, Chief Executive Officer

Web site: www.sterlingenergyplc.com

Evolution Securities ([phone])

Rob Collins

Chris Sim

There is no information in relation to the appointment of Angus MacAskill (aged 51) which is required to be disclosed pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies other than as follows:

Current Directorships

Holros Limited

Past Directorships

Emerald Energy plc

Emerald Energy (Syria) Limited

Emerald Energy Peru A Limited

Emerald Energy Peru B Limited

Dijla Petroleum Company

SNG Overseas Limited

Elixir Petroleum Limited

Elixir Petroleum (UK) Limited

The separation of the roles of Chairman and CEO is in compliance with the UK Corporate Governance Code published by the Financial Reporting Council.

 

END

 

 

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