Directorate Change

RNS Number : 2213L

Cairn Energy PLC

04 May 2010

 



EMBARGOED FOR RELEASE AT 0700                                                                           4 May 2010

CAIRN ENERGY PLC ("Cairn" or "the Company")

Board Changes

Cairn is pleased to announce the appointment of Jackie Sheppard, Q.C. and Alexander Berger as independent non-executive directors with effect from the close of the Annual General Meeting (AGM) of the Company to be held on 20 May 2010.

Appointment of Mary Jacqueline (Jackie) Sheppard, Q.C. as a Non-Executive Director

Jackie Sheppard was previously Executive Vice-President, Corporate and Legal at Talisman Energy Inc, a post she held for 15 years (1993-2008). Jackie played a key role in Talisman's growth from a Canadian domestic only producer of less than 50,000 barrels of oil equivalent per day (boepd) to an international producer of more than 525,000 boepd. During her career to date Jackie has been the recipient of many national awards as one of Canada's top business women and corporate counsel. Jackie is a director of Emera Inc. and NWest Energy Inc., both public corporations and she is Chair of the Research and Development Corporation of Newfoundland and Labrador, a Crown Corporation. Jackie acts as a director in other private corporations active in the oil and gas sector. In addition, she holds a number of advisory posts at universities in Canada.

Jackie Sheppard holds a BA from the Memorial University of Newfoundland, BA and MA in Jurisprudence from Oxford University (where she attended as a Rhodes Scholar) and LLB from McGill University. She was admitted to the Law Society of Alberta Canada in 1982 and was appointed Queen's Counsel for the Province of Alberta in 2008.

Jackie will be appointed as a member of the Company's audit committee.

Appointment of Alexander Berger as a Non-Executive Director

Alexander Berger is currently CEO of Oranje-Nassau Energie B.V., a private Dutch exploration and production company based in Amsterdam, where his key responsibility is to grow the portfolio through the acquisition of development and production assets. Prior to his appointment to this role in 2009, Alexander was Managing Director of Dyas Exploration and Production BV in Utrecht from 2007-2009 and was also a non-executive director of Capricorn during this period. Alexander started his industry career with Shell where he held various technical and commercial positions.

Alexander Berger holds a Masters degree in Petroleum Engineering from Delft University and an MBA from Rotterdam School of Management.

Neither Jackie Sheppard nor Alexander Berger currently hold any Cairn shares and no further information in connection with their appointment is required to be disclosed pursuant to Listing Rule 6.9.13R.

Hamish Grossart and Mark Tyndall

As previously announced, both Hamish Grossart and Mark Tyndall have decided not to seek re-election at the AGM on 20 May 2010 and as a result will cease to be non-executive directors of the Company following that meeting.

Norman Murray, Chairman of Cairn Energy PLC, said:

"I am delighted that Jackie Sheppard and Alexander Berger have agreed to join the Cairn board as non-executive directors. Their extensive combined experience across the globe within the oil and gas industry will be of great benefit to the board at an important time in Cairn's growth.

We are also enormously grateful to Hamish Grossart and Mark Tyndall for their invaluable contribution as non-executive directors over a number of years."

Enquiries:

Analysts/Investors Sir Bill Gammell, Chief Executive Dr Mike Watts, Deputy Chief Executive Jann Brown, Finance Director David Nisbet, Corporate Affairs	Tel: [phone]
Media Patrick Handley, David Litterick Brunswick Group LLP	Tel: [phone]

NOTES TO EDITORS: 

Ø Cairn Energy PLC ("Cairn") is an Edinburgh-based oil and gas exploration and production company listed on the London Stock Exchange. Following the IPO of Cairn India in January 2007, there are two separate arms to the business:

Ø Cairn India limited ("Cairn India") is now listed on the Bombay Stock Exchange and the National Stock Exchange of India and has interests in a total of 11 acreage blocks in India and Sri Lanka. Cairn currently retains a 62.39% interest in Cairn India.

Ø Capricorn Oil Limited ("Capricorn"), a 100% subsidiary of Cairn, is focused on exploration. Capricorn now has assets in Bangladesh, Nepal, Northern India, Greenland, Tunisia, Albania, and pending licence awards in Spain.

Ø "Cairn" where referred to in this release means Cairn Energy PLC and/or its subsidiaries (including Cairn India and Capricorn), as appropriate.

Ø "Cairn India" where referred to in the release means Cairn India Limited and/or its subsidiaries, as appropriate.

Ø "Capricorn" where referred to in this release means Capricorn Oil Limited and/or its subsidiaries as appropriate.

Ø Cairn has focused its activities on the geographic region of South Asia, which has already resulted in a significant number of oil and gas discoveries.  In particular, Cairn made a major oil discovery (Mangala) in Rajasthan in the north west of India at the beginning of 2004. Cairn has now made more than 20 discoveries in Rajasthan block RJ-ON-90/1.

Ø Cairn India is headquartered in Gurgaon on the outskirts of Delhi, with operational offices in Chennai, Gujarat, Andhra Pradesh and Rajasthan.

Ø Cairn Energy PLC (including Capricorn) is run from Edinburgh with operational offices in Dhaka, Chittagong and Kathmandu.

For further information on Cairn please go to: www.cairnenergy.com

 

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