Board Changes
Regal Petroleum PLC
22 November 2007
Immediate Release 22 November 2007
REGAL PETROLEUM PLC
('Regal' or 'the Company')
Board Changes
The Company announces the appointment of David John Greer, OBE, as Chairman and
Chief Executive Officer and Antonio Mozetic as non-executive director of the
Company, each with immediate effect. In addition, Hendrikus (Harry) Alardus
Verkuil has accepted an appointment to join the Board as an executive director
with effect from 15 January 2008.
In addition, Francesco Scolaro has stepped down as non-executive Chairman of the
Company due to other business commitments but will continue as a non-executive
director. Neil Ritson has resigned from his position as Chief Executive Officer
and director with immediate effect.
The Company would like to thank both Mr Scolaro and Mr Ritson for their valued
contribution during their tenures as Chairman and Chief Executive Officer of
Regal, respectively.
David Greer, aged 50, has extensive oil industry experience, having worked for
Shell International Exploration and Production for 28 years. He has held a wide
variety of engineering, production, commercial and senior executive positions in
Shell's operations in the United Kingdom, the Netherlands, Norway, Canada, Oman,
Argentina, the Philippines and latterly as Deputy CEO and Project Director of
the Sakhalin 2 project in Russia. Mr Greer graduated from the University of
Edinburgh in Civil and Structural Engineering and is a Fellow of the Institution
of Mechanical Engineers. Mr Greer brings to the Company substantial experience
in the management and implementation of large development projects in
challenging environments. Mr Greer also has established a strong network of
contacts in the global exploration and production contracting industry. Mr Greer
was awarded his OBE in the 2002 New Years honours list.
Harry Verkuil, aged 50, has worked for Shell International Exploration and
Production for 25 years in a wide variety of well engineering, operational and
management roles in the Netherlands, Brunei, United Kingdom, India and currently
in Saudi Arabia, where he holds the position of acting operations manager with
South Rub Al Khali Company Ltd. Mr Verkuil holds a degree in Mechanical
Engineering and is a Chartered Engineer.
Antonio Mozetic, aged 62, worked for Shell International Exploration and
Production for 30 years during which time he held a variety of technical,
commercial and management positions in the Netherlands, Saudi Arabia, the
Philippines, China, Oman, Norway, Nigeria, Venezuela and the UK. Mr Mozetic is a
highly experienced exploration professional and has been actively involved
throughout his career in the exploration and discovery of a significant number
of oil and gas fields. Mr Mozetic has most recently acted as an independent
consultant and technical advisor to the oil industry and holds a doctorate in
Geological Sciences from the University of Buenos Aires.
Each of Mr Greer, Mr Verkuil and Mr Mozetic currently have no interest in shares
in the Company.
David J Greer OBE commented on his appointment as follows:-
'I am very pleased and honoured to be offered this position and to be given the
opportunity to participate in the further development of the Company's exciting
portfolio of assets, particularly in the Ukraine, where there appear to be
significant reserves and upside potential. I look to forward to building a
strong and experienced team to accelerate the development of these assets for
the benefit of all shareholders.'
There is no information in relation to the appointments detailed herein which
are required to be disclosed pursuant to Rule 17 of the AIM Rules for Companies
other than as follows:
David Greer
Current Directorships:
1 September 2007 - Present CEO and Director
Eastern Petroleum Corporation Ltd
1 September 2007 - Present CEO and Director
North Caspian Petroleum Corporation Ltd
Previous Directorships in the past five years:
October 2003 - August 2007 Deputy CEO & Phase 2 Project Director,
Sakhalin Energy Investment Company, Ltd
Yuzhno-Sakhalinsk, Russia
April 2002 - October 2003 Director of EP Projects,
Shell International Exploration & Production B.V.
The Hague, Netherlands
April 1998 - April 2002 Managing Director
Shell Philippines Exploration B.V.
Manila, Philippines
Harry Verkuil
Current Directorships:
7 April 2005 - Present Kimberley Solutions Limited
Antonio Mozetic
Current Directorships:
April 2005 - Present Harmatan S.A. Consulting
The Board of Regal now comprises the following directors:
David Greer (Chairman and Chief Executive Officer)
Harry Verkuil (Executive Director)
Francesco Scolaro (Non-Executive Director)
Lord St. John of Bletso (Non-Executive Director)
Antonio Mozetic (Non-Executive Director)
For further information, please contact:
Regal Tel: 020 7408 9500
David Greer, Chairman and Chief Executive Officer
Evolution Securities Tel: 020 7071 4300
Robert Collins
Mirabaud Securities Tel: 020 7321 2508
Pav Sanghera
Buchanan Communications Tel: 020 7466 5000
Bobby Morse
Ben Willey
This information is provided by RNS
The company news service from the London Stock Exchange