Appointment of new Chief Financial Officer

RNS Number : 2499I

Nostrum Oil & Gas PLC

26 August 2016

 

Amsterdam, 26 August 2016

Appointment of new Chief Financial Officer

Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces that Tom Richardson, currently Group Head of Corporate Finance, has been appointed as the Company's Chief Financial Officer and as a director of the Company with effect from 1 September 2016.  Tom succeeds Jan-Ru Muller, who steps down from the Board of the Company and as Chief Financial Officer with effect from such date.  Mr Muller will continue to serve in a senior position in the Company's finance team.

Nostrum Chairman Frank Monstrey said:

"I would like to thank Jan-Ru for all his hard work over the last 9 years. We have grown the company exponentially since we started both operationally and financially. His work has been invaluable in getting us to where we are today. I welcome Tom as CFO and look forward to working with him as we approach the next stage of our development and look to deliver on all our strategic initiatives."

The Company confirms that there is no additional information regarding Tom Richardson required to be disclosed under paragraph 9.6.13 of the Listing Rules of the UK Listing Authority.  No termination payments will be made in connection with these changes. 

Further information:

For further information please visit www.nog.co.uk 

Further enquiries:

Nostrum Oil & Gas PLC - Investor Relations

Kirsty Hamilton-Smith

Rachel Pescod

[e-mail]                                                                                                        

+ 44 (0) 203 740 7430

Instinctif Partners - UK

David Simonson

+ 44 (0) 207 457 2020

Promo Group Communications - Kazakhstan

Asel Karaulova                                                                                   

+ 7 (727) 264 67 37

About Nostrum

Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker symbol: NOG). The principal producing asset of Nostrum is the Chinarevskoye field, in which it holds a 100% interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are situated approximately 60 and 120 kilometres respectively from the Chinarevskoye field.

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Group or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.

No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the Listing Rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.

 

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