REG - Europa Oil & Gas - Appointment of COO and Executive Director

Europa Oil & Gas (Holdings)Announcement

03/04/2023 07:15

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RNS Number : 0497V  Europa Oil & Gas (Holdings) PLC  03 April 2023

 

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil
& Gas

 

3 April 2023

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

Appointment of Chief Operating Officer and Executive Director

 

 

Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil
and gas exploration, development, and production company, is pleased to
announce the appointment of Alastair Stuart as Chief Operating Officer and an
Executive Director of the Company, effective immediately.

 

Mr Stuart has over 30 years of experience in operational, commercial and
technical roles in the energy and IT sectors. As a 1982 graduate of Herriot
Watt's Masters programme in Petroleum Engineering, he began his career with
Total CFP in Paris before joining Enterprise Oil in 1986, shortly after it was
established, where he focussed on projects in the North Sea and the Far East.
He was later promoted to New Ventures Manager, where he led the evaluation and
progression of new ventures in South America, Eastern Europe and the Far East.
After ten years with Enterprise, he worked briefly with Hardy Oil & Gas,
before setting up his own consulting group in 1998 which developed processes
and systems for managing capital allocation across large portfolios of
investments in the oil & gas, pharmaceutical and venture capital sectors.

 

Mr Stuart has been a consultant at Europa since 2012 and more recently has
been intimately involved in the development of the Wressle Field. He will be
relinquishing his other commitments and focusing on ensuring that the full
potential of Europa's existing assets can be rapidly realised as well as
supporting the CEO on further building the Company.

 

In order to ensure that the finance function within Europa is suitably
resourced, the Company has increased its existing mandate with Clifton
Financial Solutions Limited ("Clifton"). Clifton already provides accounting
services to Europa and going forward, will also provide administrative
services that would typically fall under the remit of a CFO. More information
on Clifton can be found on its website: www.cliftonfinancial.co.uk/
(http://www.cliftonfinancial.co.uk/)

 

Will Holland, CEO of Europa, said:

 

"I am delighted that Alastair has agreed to join Europa in a full-time
capacity. He has been consulting for Europa since 2012 and has played an
integral part in not only the development of Wressle but also has deep
knowledge of our operated assets. He brings a wealth of engineering and
M&A experience in the upstream sector that will be of crucial importance
as we continue to develop our existing asset base and concurrently grow the
business. I look forward to working with him at this very exciting time for
the Company."

 

Further information on Alastair MacNaughton Stuart as required in accordance
with Schedule 2 (g) of the AIM Rules for Companies:

 

Alastair MacNaughton Stuart, aged 63

 

 Current Directorships/Partnerships  Past Directorships/Partnerships (last 5 years)
 Datura Limited                      Albion Energy Services (UK) Ltd

 Hyperion Energy Services Ltd

 Datura Systems Ltd

 

Mr Stuart is directly interested in 210,000 ordinary shares of Europa, and
indirectly interested, through Datura Limited, in 72,488 ordinary shares of
Europa.

 

* * ENDS * *

For further information, please visit www.europaoil.com
(http://www.europaoil.com/)  or contact:

 William Holland / Murray Johnson                  Europa Oil & Gas (Holdings) plc                            mail@europaoil.com
 James Dance / James Spinney                       Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494
 Peter Krens                                       Tennyson Securities                                        +44 (0) 20 7186 9033
 Patrick d'Ancona / Finlay Thomson / Kendall Hill  Vigo Consulting                                            + 44 (0) 20 7390 0230

 

Notes to Editors

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets which includes production, development and exploration
interests, in countries that are politically stable, have transparent
licensing processes, and offer attractive terms. Production for the year
ending 31 July 2022 was 245 bopd. In April 2022, Europa farmed into P.2358,
Block 13/23c ("Serenity") in the Outer Moray Firth area of the North Sea. The
licence contains the 2019 Serenity oil discovery, in which Europa now has a
25% interest. The Company holds one exploration licence offshore Ireland,
which has the potential to host gross mean un-risked prospective resources of
1.5 trillion cubic feet ("tcf") gas. Inishkea is a near field gas prospect in
the Slyne Basin which the Company classifies as lower risk due to its close
proximity to the producing Corrib gas field and associated gas processing
infrastructure.

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