Appointment of Chief Financial Officer

RNS Number : 6780A

United Oil & Gas PLC

31 May 2019

 

United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

31 May 2019

United Oil & Gas PLC ("United" or the "Company") 

Appointment of Chief Financial Officer

United, the AIM-traded oil and gas exploration and development company, is delighted to announce the appointment of David Quirke, ACMA, as Chief Financial Officer and Company Secretary to the Board, effective from June 24^th, 2019. 

David has 17 years of treasury and corporate finance experience in the upstream oil and gas sector. He established and led the Tullow Oil Group Treasury function for a fifteen-year period from 2003 to 2017, supporting a period of transformational growth. He has extensive experience of the key exploration & production ('E&P') debt and equity instruments such as Reserves Based Lending Facilities, Acquisition Facilities, Corporate Bonds, Trade Finance Facilities and Equity Transactions.

More recently, David acted as a Treasury and Financial Consultant advising Assala Energy on their corporate finance and treasury following the acquisition of Shell's onshore assets in Gabon. He has also supported a number of small E & P companies in managing their capital structure and developing financial strategies. 

David is a qualified chartered management accountant.  He holds a BA in Law and Accounting from the University of Limerick. 

United Oil & Gas CEO, Brian Larkin said:

"We are delighted to persuade someone of David's calibre and experience to join us for the next phase of our development.  We are building a team that will enable United to fulfil the undoubted potential of our asset base and to further grow this Company.     David's experience in an international FTSE 100 company and extensive banking relationships will strengthen our ability to develop new funding avenues to fuel our growth. His understanding of the Capital Markets and Corporate Finance, particularly in the E&P sector, will expand our financial options for both acquisition and operations."

AIM Disclosures

David Thomas Patrick Quirke, ACMA, aged 46, has held the following directorships and/or partnerships in the past 5 years:

Current:	Past:
Inspired Marketing Services Limited	Tullow Oil Limited
	Tullow Oil Overseas Finance Limited

David does not currently own any shares or options in the Company.

There is no further information on David Quirke required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

In accordance with the commitment made at the time of the AIM Admission to add further financial expertise to the Board of United, the Board has considered it appropriate at this stage to appoint a full-time CFO who will also assume the Group Company Secretarial responsibility.

For more information please visit the Company's website at www.uogplc.com or contact: 

United Oil & Gas Plc (Company)
Brian Larkin	[e-mail]
Optiva Securities Limited (Broker)
Christian Dennis	[phone]
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish and Felicity Geidt	[phone]
Murray (PR Advisor)	[phone]
Joe Heron	[e-mail]
St Brides Partners (Financial PR/IR)
Frank Buhagiar and Juliet Earl	[phone]

Notes to Editors

United Oil & Gas plc (UOG) is an AIM-traded company. United was established to explore, appraise and develop low risk assets in Europe and to develop higher risk, higher impact exploration projects in the Caribbean, Latin America and Africa.

The following table outlines the Company's licence interests:

Country	Licence	Operator	United Interest
Italy	Podere Gallina Licence	Po Valley Energy Limited	20%
UK	Waddock Cross Field	Egdon Resources UK Limited	26.25%
UK	PL090 Exploration	Egdon Resources UK Limited	18.95%
UK	P1918	Corallian Energy Limited	10%
UK	PEDL 330	Corallian Energy Limited	10%
UK	PEDL 345	Corallian Energy Limited	10%
UK	P2366	United Oil & Gas Plc	95%
Jamaica	Walton-Morant	Tullow Jamaica Ltd	20%

ENDS

 

END

 

 

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