Replacement: Board Appointmen

RNS Number : 4863S

Petroneft Resources PLC

10 September 2010

 



PetroNeft Resources plc

("PetroNeft" or the "Company")

Board Appointment

PetroNeft Resources plc (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to announce the appointment of Gerard (Gerry) Fagan as an Independent Non-Executive Director of the Company.

Mr. Fagan, aged 61, previously worked with Smurfit Kappa Group plc ("Smurfit Kappa") for 23 years before his retirement as Group Financial Controller in September 2009. During this time he had global responsibility for controlling the financial operations of Smurfit Kappa, a company with turnover of €7 billion and operations in over 30 countries worldwide.

Mr. Fagan has vast experience in mergers and acquisitions, corporate finance, accounting, taxation, insurance and corporate governance. He is both a Chartered and Chartered Certified Accountant and has previously served on the audit committee of the Institute of Chartered Accountants in Ireland.

Mr. Fagan will also join both the Audit and Remuneration Committees of PetroNeft.

Other than the current and previous directorships disclosed at Appendix 1 below there are no further matters in connection with the appointment of Mr. Fagan to be disclosed pursuant to Schedule Two, paragraph (g), of the AIM and ESM Rules for Companies.

David Golder, Chairman of PetroNeft Resources plc, commented:

"We are delighted to welcome Gerry to the Board of Directors and look forward to working with him. He brings a wealth of experience in the finance arena which complements the current Board."

For further information, contact:

Dennis Francis, CEO, PetroNeft Resources plc	[phone]
Paul Dowling, CFO, PetroNeft Resources plc	[phone]
John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor/Filip Bavenholm, Canaccord Genuity Limited (Joint Broker)	[phone]
Martin Jackson, Citigate Dewe Rogerson	[phone]
Joe Murray/Joe Heron, Murray Consultants	[phone]

Appendix 1

Mr. Fagan, aged 61, is or has been a director of the following companies and organisations during the past five years:

Current directorships:	Previous directorships (last 5 years):
PetroNeft Resources plc	Various Subsidiaries of Smurfit Kappa:
Liffey Reinsurance Company Limited	L.A. Services Limited
Various Subsidiaries of Smurfit Kappa:	S.A. Services Limited
Arlonberg Limited	DLRS (Holdings) Limited
Badcall Limited	DLRS Limited
Belgray Holdings	Kappa Holding B.V.
Belguard Insurance Limited
Bishopbriggs Limited
Borden Properties Limited
Brenchley Limited
Carton de Venezuela, S.A.
Central Waste Paper Company Limited
Chacala Limited
Chambers Edwards Limited
Claystoke Limited
Damous Limited
Daoura Limited
DLRS (Holdings) Limited
DLRS Limited
Fibras Limited
G.H. Sales Limited
Gillridge Holdings Limited
Gorda Limited
Gweebara Limited
Headley Holdings
Industrias Almac, C.A.
Iona Print Limited
Irish Carton Printers Limited
J.S. Publications Limited
Jefferson Smurfit & Sons Limited
Killeen Corrugated Products Limited
King Robert Limited
Kufpent Limited
Margrave Investments Limited
Packaging Finance N.V.
Papco Overseas Limited
Queen Mathilda Limited
Richview Properties Limited
S.C. Limited
S.G.H. Limited
S.I. Holdings Limited
S.M. Finance Limited
Sandlee Investments Limited
Sminho Limited
Smurfit Corrugated Ireland
Smurfit Corrugated Research Limited
Smurfit Holdings Limited
Smurfit International Limited
Smurfit Investments (Ireland) Limited
Smurfit Investments UK Limited
Smurfit Job Creation Enterprise Fund Limited
Smurfit Kappa Acquisitions
Smurfit Kappa Corporation Limited
Smurfit Kappa Funding plc
Smurfit Kappa Holdings Limited
Smurfit Kappa Investments Limited
Smurfit Kappa Ireland Limited
Smurfit Kappa Irish Paper Sacks Limited
Smurfit Kappa News Press Limited
Smurfit Kappa Packaging Limited
Smurfit Kappa Recycling Ireland Limited
Smurfit Kappa Services Limited
Smurfit Management Services S.A.M.
Smurfit Natural Resources Limited
Smurfit Packaging Limited
Smurfit Publications Limited
Smurfit Securities Limited
Smurfit UK Limited
Smurfit Venture Capital Management Services Limited
Smurfit Venture Investments Limited
Smurfit Web Research Limited
TMG Limited
Trans-Pack Cases Limited
Trinmills Limited
Wilshaw Investments Limited
Woodfab Cork Limited
Woodfab Limited

 

END

 

 

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