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 Raggett |
finnCap Ltd |
+ 44 (0) 20 7220 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/Amendment |
Initial notification |
|
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 Financial
instrument, type of instrument |
Option over Ordinary shares of
1p |
Identification code |
GB00B03CJS30 |
b) |
Nature of the transaction |
Award of option to purchase ordinary
shares |
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 transaction |
London Stock Exchange, AIM Market
(XLON) |
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.