REG - Enwell Energy PLC - Board and Management Changes

Enwell EnergyAnnouncement

08/03/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240308:nRSH0795Ga&default-theme=true

RNS Number : 0795G  Enwell Energy PLC  08 March 2024

8 March 2024

 

Enwell Energy plc
("Enwell" or the "Company")

 

Board and Management Changes

 

Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas exploration and
production group, announces certain changes to its Board of Directors and
senior management of the Company.

 

With immediate effect, Mr Chris Hopkinson has stepped down as Non-Executive
Chairman, and Mr Sergei Glazunov has stepped down as Chief Executive Officer
and Director of the Company.

 

Also with immediate effect, Mr Charles "Chuck" Valceschini has been appointed
as Non-Executive Chairman and Mr Igor Basai has been appointed as a
Non-Executive Director of the Company.

 

It is intended that a new Chief Executive Officer will be recruited in due
course, and, pending such an appointment, Mr Oleksiy Zayets, the Chief
Financial Officer of the Group's companies in Ukraine, has agreed to act as
interim Chief Executive Officer.

 

Mr Valceschini is an experienced senior executive and director, with extensive
knowledge of the global oil and gas industry. He commenced his career in
technical and operational roles with Marathon Oil Corporation in the United
States. He then moved to similar roles in international postings with IPR
Energy Group and Nobel Oil. He subsequently joined Anglo Albanian Petroleum,
American Energy Group, Hycarbex Inc and Severtek LLC, and then TNK-BP and BP
plc in senior technical and management roles. He subsequently founded
Valceschini & Associates LLC to provide technical and commercial services
to the oil and gas industry. He has also been a Director of Block Energy plc
and Chairman of JKX Oil & Gas Ltd. Mr Valceschini has a BSc in Petroleum
Engineering from the University of Wyoming, and an MSc in Engineering
Management from Portland State University. He is a member of the Society of
Petroleum Engineers.

 

Mr Basai is an appointee of the Company's majority shareholder, Smart Energy
(CY) Limited. He is an experienced human resources professional, having
started his career in recruitment with HR Consulting and Brain Source
International, before joining the HR department of Metinvest Holding. He then
held senior HR roles with RU-COM Group, British American Tobacco, Prodo Group,
Kellogg, PepsiCo and Interpipe, before joining Smart-Holding as HR and
Organisational Development Director. Mr Basai has a Specialist Degree in
English Philology and Practical Psychology from the Kyiv National Linguistic
University, and a Postgraduate Diploma in HR Management from Nottingham Trent
University.

 

The Company wishes to extend its great appreciation to Chris Hopkinson and
Sergei Glazunov for their valued contribution during their respective tenures
with the Company, and to welcome Chuck Valceschini and Igor Basai to the
Board.

 

Additional information on Mr Valceschini:

 

Charles Russell Valceschini, aged 65, is currently a director, partner or
principal of the following entities:

 

Valceschini & Associates

Tillard Canal Company

 

He has formerly been a director, partner or principal of the following
entities within the last five years:

 

Block Energy plc

JKX Oil & Gas Ltd

TechNefteGaz Consulting LLC

Valceschini & Associates LLC

 

Additional information on Mr Basai:

 

Igor Basai, aged 43, is not currently a director, partner or principal of any
entity, but in the last five years he has formerly been a director, partner or
principal of the following entity:

 

Gloria Incorporated LLC

 

There is no other information that is required to be disclosed pursuant to
paragraph (g) of Schedule Two to the AIM Rules for Companies.

 

 

For further information, please contact:

 

 Enwell Energy plc                              Tel: 020 3427 3550
 Chuck Valceschini, Chairman
 Bruce Burrows, Finance Director

 Strand Hanson Limited                          Tel: 020 7409 3494
 Rory Murphy / Matthew Chandler

 Zeus Capital Limited                           Tel: 020 7614 5900
 Alexandra Campbell-Harris (Corporate Finance)
 Simon Johnson (Corporate Broking)

 Citigate Dewe Rogerson                         Tel: 020 7638 9571
 Ellen Wilton

 

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014, which forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of
the Market Abuse (Amendment) (EU Exit) Regulations 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOADDGDXGDGDGSR