Island Oil and Gas PLC
23 August 2007
23 August 2007
ISLAND OIL & GAS ANNOUNCES BOARD REORGANISATION
IN LINE WITH PROJECT PROGRESS
Island Oil & Gas plc ('Island' or the 'Company') (LSE:IOG) today announces that
it is in the process of reorganising its Board of Directors to reflect its
position as a successful operator offshore Ireland. The first phase of the
reorganisation will see the appointment of Commercial Manager, Karl Noel Stephen
Prenderville to the position of Commercial Director, responsible for commercial
activities including gas sales, financial planning, economics, taxation and
investment and banking, with effect from 23 August 2007.
Karl, age 46, an Irish National, has over 25 years experience in the oil and gas
industry in a number of senior commercial, financial and management roles. He is
a qualified accountant (Institute of Financial Accountants). Karl has a
wide-ranging knowledge of the oil and gas industry and an extensive contact base
both within Ireland and internationally. He has considerable commercial and
financial experience in areas such as government negotiations, financial and
business services management, economics and project cost control.
Karl's career started in 1981 as an Operations Accountant for Sovereign Oil &
Gas mainly working on North Sea operations. In 1986 Karl joined Enterprise Oil,
where he spent 16 years on exploration and development projects in Ireland, UK,
Indonesia, Cambodia, Vietnam and the Seychelles.
From 1997 to 2002, Karl was Business Services Manager and subsequently Finance
Director of Enterprise Energy Ireland Ltd where he was responsible for
establishing the company's headquarters in Dublin and managing its growth,
following the Corrib Gas Field discovery, from a small exploration office in
1997 to an organisation of around 120 staff.
Karl was a Director of Enterprise Energy Ireland from 2000 to 2002. He was also
a Director of Enterprise Energy Services Limited and Enterprise Energy Ireland
Offshore Inc. from 2001 to 2002. He is currently a Director of K & B Productions
Ltd of Ireland.
Karl replaces Philip Beck, New Ventures Director, as an Executive Board
Director. Phil is standing down from the Board with effect from 23 August 2007
to dedicate time to other ventures.
Island is actively seeking additional Executive and Non-Executive Directors to
further strengthen the Company's Board.
Paul Griffiths, Chief Executive of Island, commented:
'This Board reorganisation is the beginning of an effort to build upon the
existing strengths of the Company's Board and we will be making further
appointments in due course in reflection of the Company's status as an
accomplished operator with four successfully operated Celtic Sea wells to date.
We are delighted to welcome Karl Prenderville to the Board of Island. Karl has
been with Island since 2006 and has made a major contribution to the Company. I
would also like to thank Phil Beck whose knowledge and experience gained over 35
years in the industry has made a major contribution helping to transform Island
from its formative days as a private company into a publicly listed operator. We
wish him every success in the future.'
Enquiries:
Lisa J Newman MCIPR MIRS
Newman Consulting
Tel: +44 (0)1252 878682
Paul Griffiths
Chief Executive
Island Oil & Gas plc
Tel: +353 1 631 3755
Notes to Editors:
Island was founded in 2003 and listed on AIM in December 2004 (LSE:IOG). The
Company has interests in eleven Irish offshore licences, as well as licences in
the Netherlands, Morocco and Albania.
Further information on Island can be found on the Company's website at http://
www.islandoilandgas.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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