RCS - Valeura Energy Inc. - COO Appointment and Board Changes

Valeura EnergyAnnouncement

17/07/2023 08:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230717:nRSQ2049Ga&default-theme=true

RNS Number : 2049G  Valeura Energy Inc.  17 July 2023

COO Appointment, Changes to the Board and Replacement of Auditor

Calgary, July 17, 2023: Valeura Energy Inc. (TSX:VLE) ("Valeura" or the
"Company"), the upstream oil and gas company with assets in the Gulf of
Thailand and the Thrace Basin of Turkey, announces appointment of a chief
operating officer, changes to its board of directors ("Board") and replacement
of its auditor.

Chief Operating Officer Appointment

Greg Kulawski is joining Valeura as Chief Operating Officer, effective July
17, 2023.  Mr. Kulawski is a seasoned executive leader, with 25 years of
upstream oil and gas experience.  His international career has been with
Shell and his most recent roles were the Deputy CEO and Production Director of
Sakhalin Energy, Vice President of Safety for the Shell group globally, and
General Manager and Director of Shell's onshore and shallow water assets in
Nigeria.  He has substantial experience in brownfield production operations
and greenfield developments including key health, safety and
environment-related responsibilities.  Mr. Kulawski has a proven track record
in leading international and multi-cultural teams through complex projects
including major facility turnarounds and integrating new businesses.  Mr.
Kulawski holds a Bachelor of Engineering in Electronics & Electrical
Engineering and a Doctor of Philosophy from the University of Birmingham.  He
and his family will relocate to Singapore to join the rest of the Valeura
executive team.

Board Changes

Ron Royal will retire from the Board effective August 1, 2023 after having
provided dedicated service and significant contributions over a 13-year period
from Valeura's inception in 2010.

Lina Lee will be appointed as an independent director of Valeura effective
August 1, 2023.  Ms. Lee is a specialist in finance and energy, with over 25
years of experience in multiple industries and cultures, culminating in senior
leadership positions at BP.  She has held roles focused on rigorous portfolio
management, financial management, business development, treasury and deal
structuring, most recently serving as CFO & VP Strategy of BP's Global
Petrochemicals business.  With considerable experience in developing and
executing strategies focused on Asia, Europe, the Middle East, and Russia, Ms.
Lee brings a wealth of international acumen and a strategic growth mindset,
with a particular emphasis on executing inorganic growth transactions and
business improvement initiatives.  She is a Chartered Financial Analyst, with
a business education from The Chinese University of Hong Kong, the Kelley
School of Business at Indiana University, and the Harvard Business School.
Ms. Lee is based in Hong Kong.

Auditor Replacement

In line with the executive move to Asia, Deloitte & Touche LLP (Singapore)
have been appointed as auditors of the Company, replacing KPMG Canada.

Tim Marchant, Chairman of the Board commented:

"With our Company's significant and growing operations in Southeast Asia, we
are continuing to bolster the executive team with senior operating talent, and
I am pleased to welcome Greg Kulawski, as COO.  Greg is a seasoned executive
with 25 years of experience in international operating units and corporate
roles.  His professionalism and deep experience is an excellent fit and I am
confident his operations and safety leadership will help ensure that our world
class performance continues.

"On behalf of the Board, I would like to thank Ron Royal for his long and
committed service to the Board and to Valeura as a founding director and early
investor in the Company.  We have come to rely upon his candour and broad
technical and international operational experience in contributing to key
Board decisions over the years, and his presence will be missed.

"In addition, I am very pleased to welcome Lina Lee to our board.  With her
extensive experience in international energy, including the Southeast Asia
region, I have no doubt she will be an excellent source of sound independent
advice for our Board and a great asset in guiding the firm through the next
exciting phase of developing our Thailand assets and building out our
Southeast Asian business."

 

For further information, please contact:

Valeura Energy Inc. (General Corporate
Enquiries)                       +1 403 237 7102

Sean Guest, President and CEO

Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com (mailto:Contact@valeuraenergy.com)

Valeura Energy Inc. (Investor
Enquiries)                             +1 403 975
6752 / +44 7392 940495

Robin James Martin, Vice President, Communications and Investor
Relations

IR@valeuraenergy.com (mailto:IR@valeuraenergy.com)

Auctus Advisors LLP (Corporate Broker to
Valeura)                     +44 (0) 7711 627 449
Jonathan Wright
Valeura@auctusadvisors.co.uk (mailto:Valeura@auctusadvisors.co.uk)

CAMARCO (Public Relations, Media Adviser to Valeura)  +44 (0) 20 3757 4980

Owen Roberts, Billy Clegg
Valeura@camarco.co.uk (mailto:Valeura@camarco.co.uk)

 

About the Company

Valeura Energy Inc. is a Canada-based public company engaged in the
exploration, development and production of petroleum and natural gas in
Thailand and in Turkey.  The Company is pursuing a growth-oriented strategy
and intends to re-invest into its producing asset portfolio and to deploy
resources toward further organic and inorganic growth in Southeast Asia.
Valeura aspires toward value accretive growth for stakeholders while adhering
to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR at
www.sedar.com
(https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00014898)
.

This news release does not constitute an offer to sell or the solicitation of
an offer to buy securities in any jurisdiction, including where such offer
would be unlawful. This news release is not for distribution or release,
directly or indirectly, in or into the United States, Ireland, the Republic of
South Africa or Japan or any other jurisdiction in which its publication or
distribution would be unlawful.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Toronto Stock Exchange) accepts
responsibility for the adequacy or accuracy of this news release.

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. 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  NRANKOBDABKKPOD