Board and Management Changes

RNS Number : 4790B

Regal Petroleum PLC

21 September 2018

 

21 September 2018

Regal Petroleum plc

("Regal" or the "Company")

Board and Management Changes

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group with assets in Ukraine, announces changes to the management and Board of Directors of the Company. 

With effect from 30 September 2018, Mr Yevhen (Gene) Palyenka is leaving his position as Chief Financial Officer of the Company to pursue another opportunity. The recruitment process for his replacement is underway, and a further announcement will be made in due course regarding his replacement. 

Also with effect from 30 September 2018, Dr Phil Frank will step down as Non-Executive Director of the Company, and Mr Dmitry Sazonenko will join the Board as Non-Executive Director of the Company. 

Mr Sazonenko is a geologist and petroleum engineer with extensive experience in the oil and gas industry in the Russian Federation and former CIS countries. He began his career with the Russian Academy of Science, before moving to the private sector with technical and management roles with YUKOS, LUKOIL Overseas, Imperial Energy, Total, and International Petroleum.  He is currently the Chief Geologist with Eurotek-Yugra, the Repsol-Gazpromneft joint venture in the Russian Federation. 

Mr Sazonenko is a member of the Society of Petroleum Engineers and the American Association of Petroleum Geologists, and has an MSc in Geology from Novosibirsk State University, an MSc in Petroleum Engineering from Heriot-Watt University, a Diploma in Oil and Gas Economics and Management from Gubkin University, Moscow, and is a Certified Project Management Specialist accredited by the International Project Management Association.

The Company wishes to extend its appreciation to Gene Palyenka and Phil Frank for their valued contributions during their respective tenures with the Company, and to welcome Dmitry Sazonenko to the Board.

Additional information:

Dmitry Fedorovich Sazonenko, aged 40, is not currently a director of any company, nor has he been a director of any company during the last five years.

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Regal Petroleum plc	Tel: [phone]
Chris Hopkinson, Chairman Sergii Glazunov, CEO
Strand Hanson Limited (Nominated Adviser)	Tel: [phone]
Rory Murphy / Richard Tulloch / Frederick Twist
Citigate Dewe Rogerson (Financial PR)	Tel: [phone]
Louise Mason-Rutherford / Elizabeth Kittle

 

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