Gasol plc Directorate Change (3036K)

TIDMGAS

RNS Number : 3036K

Gasol plc

29 July 2013

Gasol plc

("Gasol" or the "Company")

BOARD CHANGE

Appointment of former OPEC Secretary General as Chairman

Gasol plc, the West African energy development company, announces that Cornelia Meyer has notified the Company of her intention to step down from the Board on 01 August 2013. The Board is pleased to announce that Cornelia has agreed to act as Strategic Adviser to the Gasol Board going forward.

It is intended that Dr. Rilwanu Lukman KBE, 74, will assume the role of Chairman from 01 August 2013. Dr. Lukman is currently a director of Ivanplats Limited, International Mining and Infrastructure Corporation plc and R Lukman & Co. and is a member of the supervisory board of Dietsmann N.V. Dr. Lukman was a founder of Afren PLC and served as its Non-Executive Chairman from November 2006 to December 2008. Dr. Lukman also served as Strategic Advisor to the Board of Gasol from July 2007 to December 2008.

Dr. Lukman has more than 40 years of experience in the petroleum and mining industries, and has relevant relationships at the most senior levels around the world. Dr. Lukman has served as Nigeria's Minister of Mines, Power and Steel from January 1984 to December 1985, Minister of Petroleum Resources from January 1986 to December 1989, Minister of Foreign Affairs from December 1989 to October 1990, and Chairman of the Board of Directors of the National Electric Power Authority (NEPA) from March 1993 to December 1994.

He has served as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) from January 1995 to December 2000 and President of OPEC from March 1985 to December 1989.

He is the founder of the African Petroleum Producers Association and served as its Chairman from March 1986 to March 1987. Dr. Lukman received a Bachelor of Science (Engineering) in Mining from the University of London, a Postgraduate Certificate in Mining & Mineral Exploration from the University of Mining & Metallurgy, Leoben, Austria, a postgraduate certificate in Mineral Economics from McGill University, Montreal and a Ph.D in Chemical Engineering from the University of Bologna, Italy. He also holds a Doctorate degree from the University of Maiduguri in Nigeria and is a Fellow of the Imperial College London. Dr. Lukman holds a Doctor of Science Degree from Ahmadu Bello University, Zaria and two Honorary Doctorate degrees from Moore House College, Atlanta and the University of Benin respectively. Dr. Lukman was made a Knight of the British Empire (KBE) in 1989, an Officer of the Legion d'Honneur of France in 1990 and is a Commander of the Federal Republic of Nigeria (CFR).

Save as set out above, there is no information to be disclosed under paragraph (g) of Schedule 2 to the AIM Rules.

Cornelia Meyer said: "I am delighted to see Dr. Lukman take over from me as Chairman of the Board. He is extremely well placed to drive the evolution of Gasol into its next phase. His lifelong experience within the oil & gas sector in Africa, as well as his seniority, will give the company the leadership and insight it needs."

Dr. Lukman said: "I am very pleased to be joining the Board of Gasol as Chairman. On behalf of the present Board members, I would like to thank Cornelia for her great work over the last year and look forward to working with her in her new role as Strategic Adviser."

For further information, please contact:

 
 Gasol plc 
  Alan Buxton, Chief 
  Operating Officer            +44 (0) 20 
  www.gasolplc.com              7290 3300 
 Panmure Gordon (UK) 
  Limited 
  Dominic Morley (Corporate 
  Finance) 
  Callum Stewart (Corporate    +44 (0) 20 
  Finance)                      7886 2500 
  Adam Pollock (Corporate 
  Broking) 
 
  Yellow Jersey PR Limited 
  Dominic Barretto              +44 (0) 20 
  Anna Legge                    3644 4087

Notes to Editors:

About Gasol plc

Gasol plc's strategy is to provide African gas for the next generation. Power stations in West Africa currently operate predominantly on liquid fuels such as diesel, light crude and jet fuel, but many of these plants are also capable of using gas. Gasol will initially supply these customers with gas from regasified Liquefied Natural Gas ("LNG"), which can provide significant cost savings in the order of 20 to 30 per cent. This involves the delivery of LNG to leased Floating Storage and Regasification Facilities, which will be positioned in Cotonou harbour, Benin and will supply the regasified LNG into the West African Gas Pipeline. The West African Gas Pipeline is a 678km gas pipeline involving an investment of over US$1 billion, built to transport gas from Nigeria to Benin, Togo and Ghana which has been operational since March 2011, but today operates at significantly less than full capacity . Once there is sufficient regional demand for gas, Gasol aims to develop captive gas reserves in offshore Nigeria and will supply this gas through the West African Gas Pipeline. This pipeline gas will be cheaper and therefore displace the LNG derived gas, resulting in further savings for customers.

Gasol's shares have been listed on London Stock Exchange's AIM since 2005 with the ticker code "GAS". Further information on the Company is available at www.gasolplc.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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