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Ascent Resources PLC (AST)

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Monday 18 February, 2019

Ascent Resources PLC

Board Changes

RNS Number : 2856Q
Ascent Resources PLC
18 February 2019
 

Ascent Resources plc

("Ascent" or the "Company")

Board Changes

The Board of Ascent is pleased to announce the following changes to the PLC Board.

Executive changes

John Edmund Buggenhagen, aged 49, who joined the management team as Chief Operating Officer on 14 January 2019 has today been appointed to the PLC Board.

John is an experienced and dynamic geophysicist with 20 years working knowledge of the industry. He was the CEO of Palomar Natural Resources, a Polish focussed E&P Company. Prior to that John was Director of Exploration for San Leon Energy in London, and Exploration Manager Europe for Aspect Energy/Hungarian Horizon. He holds a bachelor's degree in geophysics from the University of Arizona, a master's degree in geophysics from the University of Wyoming, and a Ph.D. in geophysics also from the University of Wyoming.

Non-Executive changes

Further to our announcement of 14 January 2019, Nigel Moore has retired from the board. Nigel had been a director of Ascent since 2006 and has provided valuable support to the Company including in his role as Chairman of the Audit Committee.

Louis Emmanuel Castro, aged 60, has been appointed as non-executive director and Chairman of the Audit Committee. Louis is a chartered accountant and former investment banker with more than 30 years' City and industry experience.

He was previously CFO at Eland Oil and Gas, an AIM listed upstream Oil and Gas company operating in Nigeria, and CEO at Northland Capital Partners, the investment bank and broker, where he represented a significant number of Oil and Gas clients. Louis is also a non-executive director and Chairman of the Audit Committee at Stanley Gibbons Group plc and Jangada Mines plc.

 

Colin Hutchinson, CEO of Ascent Resources plc, commented:

"I am delighted that both John and Louis have joined the board and very much look forward to working with them to progress our project in Slovenia and on developing our new ventures."

 

Ascent Resources plc

Colin Hutchinson, CEO

John Buggenhagen, COO

Cameron Davies, Chairman

 

0207 251 4905

 

WH Ireland, Nominated Adviser & Broker

James Joyce / Chris Viggor

0207 220 1666

 

Yellow Jersey, Financial PR and IR

Tim Thompson / Harriet Jackson / Henry Wilkinson

 

0203 004 9512

 

APPENDIX

 

The following details in relation to the appointment of Mr. Buggenhagen are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships

Past directorships held within the last five years

BRIDGECREEK RESOURCES (COLORADO) LLC

PALOMAR NATURAL RESOURCES LLC

WHITEWATER EXPLORATION LIMITED

ENERGIA ZACHOD SP. Z O.O.

ENERGIA ZACHOD HOLDINGS SP. Z O.O.

GORA ENERGY SP. Z O.O.

TSH ENERGY JOINT VENTURE BV

LIESA ENERGY SP. Z O.O.

PALOMAR NATURAL RESOURCES BVI

PALOMAR NATURAL RESOURCES (LUXEMBOURG) SARL

PALOMAR NATURAL RESOURCES (NETHERLANDS) BV

PNR SERVICES POLAND SP. Z O.O.

PNR SERVICES SP. Z O.O.

POLSKI PERMIAN ENERGY BV

POZNAN ENERGY BV

RAWICZ ENERGY SP. Z.O.O.

THUNDER RIVER ENERGY LLC

WHITEWATER EXPLORATION SERVICES LIMITED

WSCHOWA ENERGY SP. Z O.O.

 

 

The following details in relation to the appointment of Mr. Castro are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships

Past directorships held within the last five years

Akonic Energy Limited

Jangada Mines plc

Hallwood Oil & Gas Inc

Hollingsworth Minerals Inc

Inception Energy Limited

Oryx Management Limited

Stanley Gibbons Group plc

Eland Oil & Gas plc

Northland Capital Partners Limited

Pan European Terminals plc

Swan Alley (Nominees) Limited

 

There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.

 


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