Appointment of COO and Executive Director

RNS Number : 0497V

Europa Oil & Gas (Holdings) PLC

03 April 2023

 

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas

3 April 2023

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

Appointment of Chief Operating Officer and Executive Director

Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and gas exploration, development, and production company, is pleased to announce the appointment of Alastair Stuart as Chief Operating Officer and an Executive Director of the Company, effective immediately .

Mr Stuart has over 30 years of experience in operational, commercial and technical roles in the energy and IT sectors. As a 1982 graduate of Herriot Watt's Masters programme in Petroleum Engineering, he began his career with Total CFP in Paris before joining Enterprise Oil in 1986, shortly after it was established, where he focussed on projects in the North Sea and the Far East. He was later promoted to New Ventures Manager, where he led the evaluation and progression of new ventures in South America, Eastern Europe and the Far East. After ten years with Enterprise, he worked briefly with Hardy Oil & Gas, before setting up his own consulting group in 1998 which developed processes and systems for managing capital allocation across large portfolios of investments in the oil & gas, pharmaceutical and venture capital sectors.

Mr Stuart has been a consultant at Europa since 2012 and more recently has been intimately involved in the development of the Wressle Field. He will be relinquishing his other commitments and focusing on ensuring that the full potential of Europa's existing assets can be rapidly realised as well as supporting the CEO on further building the Company.  

In order to ensure that the finance function within Europa is suitably resourced, the Company has increased its existing mandate with Clifton Financial Solutions Limited ("Clifton"). Clifton already provides accounting services to Europa and going forward, will also provide administrative services that would typically fall under the remit of a CFO. More information on Clifton can be found on its website: www.cliftonfinancial.co.uk/

Will Holland, CEO of Europa, said:

"I am delighted that Alastair has agreed to join Europa in a full-time capacity. He has been consulting for Europa since 2012 and has played an integral part in not only the development of Wressle but also has deep knowledge of our operated assets. He brings a wealth of engineering and M&A experience in the upstream sector that will be of crucial importance as we continue to develop our existing asset base and concurrently grow the business. I look forward to working with him at this very exciting time for the Company."

Further information on Alastair MacNaughton Stuart as required in accordance with Schedule 2 (g) of the AIM Rules for Companies:

Alastair MacNaughton Stuart, aged 63

Current Directorships/Partnerships	Past Directorships/Partnerships (last 5 years)
Datura Limited Hyperion Energy Services Ltd Datura Systems Ltd	Albion Energy Services (UK) Ltd

Mr Stuart is directly interested in 210,000 ordinary shares of Europa, and indirectly interested, through Datura Limited, in 72,488 ordinary shares of Europa.

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For further information, please visit  www.europaoil.com  or contact:

William Holland / Murray Johnson	Europa Oil & Gas (Holdings) plc	[e-mail]
James Dance / James Spinney	Strand Hanson Limited - Nominated & Financial Adviser	[phone]
Peter Krens	Tennyson Securities	[phone]
Patrick d'Ancona / Finlay Thomson / Kendall Hill	Vigo Consulting	+ 44 (0) 20 7390 0230

Notes to Editors

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets which includes production, development and exploration interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. Production for the year ending 31 July 2022 was 245 bopd. In April 2022, Europa farmed into P.2358, Block 13/23c ("Serenity") in the Outer Moray Firth area of the North Sea. The licence contains the 2019 Serenity oil discovery, in which Europa now has a 25% interest. The Company holds one exploration licence offshore Ireland, which has the potential to host gross mean un-risked prospective resources of 1.5 trillion cubic feet ("tcf") gas. Inishkea is a near field gas prospect in the Slyne Basin which the Company classifies as lower risk due to its close proximity to the producing Corrib gas field and associated gas processing infrastructure.

 

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