Directorate and Management Changes

RNS Number : 9197L

Sterling Energy PLC

16 August 2013

 



16 August 2013

STERLING ENERGY PLC

("Sterling" or the "Company")

Directorate and Management Changes

Sterling Energy Plc ("Sterling", the "Company" or the "Group"), (AIM:SEY), an upstream exploration and production company with interests in Africa, today announces the resignation of Angus MacAskill as Chief Executive Officer (CEO) and Director of the Company.

Mr MacAskill joined Sterling as CEO in 2010 during the drilling of the Sangaw North #1 exploration well in Kurdistan. Since joining, he has guided the Company through its operated activities in Kurdistan, the introduction of a funding and operating partner into Ntem, the Company's strategic exploration asset in Cameroon, and the transformation of the Company from its operational focus at the time of his arrival to its current focus on new ventures. With this transformation completed, Mr MacAskill has decided that now is an appropriate time for him to stand down as CEO of the Company and has tendered his resignation as CEO and Director of the Company.

Angus MacAskill's resignation will be effective today and Alastair Beardsall, Sterling's Executive Chairman, will become interim CEO.

Alastair Beardsall, Sterling's Chairman said:

"Angus joined Sterling at a challenging time for the business and personally managed the drilling of Sangaw North #1, a very technically demanding operation. More recently he has helped re-focus the Company towards new ventures. I have enjoyed working with Angus at Sterling and on behalf of the board and shareholders would like to record our thanks to him and to wish him well in the future."

Further information:
Sterling Energy Plc	([phone])
Alastair Beardsall, Chairman
Liberum Capital	([phone])
Simon Atkinson Tim Graham
Peel Hunt LLP	([phone])
Andy Crossley Richard Crichton

Web site: www.sterlingenergyplc.com

 

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