Europa Oil & Gas (Holdings) Plc Board Changes

 
TIDMEOG 
 
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas 
 
12 March 2020 
 
          Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company') 
 
                                 Board Changes 
 
Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas 
exploration, development and production company, is pleased to announce the 
appointment of Mr Stephen Williams to the Board of the Company as an 
independent Non-Executive Director.  Mr Williams, who is Co-Chief Executive 
Officer of Reabold Resources plc (AIM: RBD), replaces independent Non-Executive 
Director Roderick Corrie, who is stepping down from the Board after twelve 
years of service. The Board changes are effective immediately. Following these 
changes, Brian O'Cathain, who has served as independent Non-Executive Director 
of the Company since January 2018, has been appointed Senior Independent 
Non-Executive Director. 
 
Since October 2017, Mr Williams has held the position of Co-CEO of Reabold 
Resources, an AIM traded, upstream oil & gas company focused on investing in 
late stage upstream opportunities.  At Reabold, Mr Williams has played a 
leading role in raising capital, building a diversified portfolio of 
investments in the UK, Romania and the US and, since August 2018, the company's 
participation in nine wells, eight of which have resulted in discoveries. 
Prior to Reabold, Mr Williams held various positions within both the energy and 
financial sectors including as a fund manager at Guinness Asset Management and, 
between 2010 and 2016, as an investment analyst at M&G focused on energy and 
resources.  Between 2005 and 2010, Mr Williams worked as an energy investment 
analyst for Simmons & Company International and from 2003 to 2005 as an analyst 
at ExxonMobil. 
 
Simon Oddie, Interim Chief Executive Officer and Executive Chairman of Europa, 
said: "Stephen's appointment to the Board of Europa is well timed.  His proven 
track record at Reabold in sourcing, securing and participating in upstream 
appraisal opportunities, which have subsequently generated multiple 
discoveries, will prove invaluable to Europa. Our portfolio currently includes 
three producing fields in the East Midlands, the Wressle development project in 
Lincolnshire and high impact exploration offshore Ireland and Morocco, 
including our flagship 1.5tcf Inishkea gas prospect which lies close to the 
producing Corrib gas field in the Slyne Basin. I look forward to working 
closely with Stephen and the rest of the team, as we look to advance our asset 
base and generate value for our shareholders. 
 
"I would like to take this opportunity to thank Roderick for his contribution 
to Europa over the years.  I, along with the other members of Europa's Board, 
wish him all the best for the future." 
 
                                 * * ENDS * * 
 
For further information please visit www.europaoil.com or contact: 
 
Simon Oddie       Europa                        + 44 (0) 20 7224 
                                                3770 
 
Phil Greenhalgh   Europa                        + 44 (0) 20 7224 
                                                3770 
 
Christopher       finnCap Ltd                   + 44 (0) 20 7220 
Raggett                                         0500 
 
Simon Hicks       finnCap Ltd                   + 44 (0) 20 7220 
                                                0500 
 
Frank Buhagiar    St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Megan Dennison    St Brides Partners Ltd        + 44 (0) 20 7236 
                                                1177 
 
Notes 
 
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage 
hydrocarbon assets that includes production, exploration and development 
interests, in countries that are politically stable, have transparent licensing 
processes, and offer attractive terms. In 2019 Europa produced 91 boepd. Its 
highly prospective exploration projects include the Wressle development in the 
UK (targeting production start-up in 2020 at 500 bopd gross) and five licences 
offshore Ireland with the potential to host gross mean un-risked prospective 
resources of 5.7 billion barrels oil equivalent and 1.5 trillion cubic feet 
('tcf') gas. The Company's flagship project offshore Ireland is the Inishkea 
prospect - a near field gas exploration project with 1.5 tcf gross mean 
un-risked prospective gas resources. 
 
The following information regarding the appointment of Mr Stephen Williams, 
aged 38, is disclosed under Schedule 2(g) of the AIM Rules for Companies: 
 
Current directorships and/or partnerships:     Former directorships and/or partnerships 
                                               (within the last five years): 
 
Reabold Resources PLC 
Danube Petroleum Ltd 
Rathlin Energy (UK) Ltd 
 
Mr Williams is the holder of 141,131 Ordinary Shares of 1 pence in the Company 
('Ordinary Shares'). Mr Williams was today issued 1,200,000 options over 
ordinary shares in the Company ('Options'). The Options vest 400,000 after 18 
months, 400,000 after 30 months and 400,000 after 42 months, are valid until 11 
March 2026 and have an exercise price of 1.28 pence per Ordinary Share and can 
be exercised on the condition that the closing average mid-market price of an 
Ordinary Share exceeds 3 pence per Ordinary Share for 30 consecutive trading 
days. 
 
         Details of the person discharging managerial responsibilities / 
         person closely associated 
 
a)       Name                    Stephen Williams 
 
         Reason for the Notification 
 
a)       Position/status         Independent Non Executive Director 
 
b)       Initial notification/   Initial notification 
         Amendment 
 
         Details of the issuer, emission allowance market participant, auction 
         platform, auctioneer or auction monitor 
 
a)       Name                    Europa Oil & Gas (Holdings) plc 
 
b)       LEI                     213800JWTCW7TN3WRC06 
 
         Details of the transaction(s): section to be repeated for (i) each 
         type of instrument; (ii) each type of transaction; (iii) each date; 
         and (iv) each place where transactions have been conducted 
 
a)       Description of the      Option over Ordinary shares of 1p 
         Financial instrument, 
         type of instrument 
 
         Identification code     GB00B03CJS30 
 
b)       Nature of the           Award of option to purchase ordinary shares 
         transaction 
 
c)       Price(s) and volume(s)  Price(s)              Volume(s) 
 
                                 1.28p                 1,200,000 
 
d)       Aggregated information: n/a 
 
e)       Date of the transaction 12 March 2020 
 
f)       Place of the            London Stock Exchange, AIM Market (XLON) 
         transaction 
 
There are no further disclosures required under Schedule 2(g) of the AIM Rules 
for Companies. 
 
 
 
END
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