Appointment of CEO and Management Changes

RNS Number : 6040K

Ascent Resources PLC

23 August 2012

 



Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

23 August 2012

Ascent Resources plc

('Ascent' or 'the Company')

Appointment of Chief Executive Officer and Management Changes

The Board of Directors of Ascent ("the Board") is pleased to announce the appointment of Len Reece to the Board as Chief Executive Officer. His appointment will take effect from 17 September 2012.  

Leonard John Reece, aged 62 has over thirty years of E&P sector experience, of which over twenty years were at Managing Director and CEO level. His most recent role was as CEO of Valhalla Oil and Gas AS, a private Norwegian oil company, where he was responsible for identifying, acquiring and developing commercially successful oil and gas assets. He had previously held the position of Managing Director of Spectrum Energy and Information Technology Ltd, which provides multi-client services and high quality seismic imaging. His combination of project development and operating experience will be of significant value as Ascent progresses the projects in its portfolio.  Len's first priority will be to review all aspects of our largest near term development project at Petišovci in Slovenia and focus on moving it into production.

Jeremy Eng, the current Managing Director, will become Chief Operating Officer and will remain a Director.

John Kenny chairman of Ascent said:

"We are delighted that Len is joining us. He has exactly the right combination of senior management experience, project development expertise and commercial know-how to help us maximise the value of Ascent's assets as we move from oil and gas exploration to production and commercial development." 

During the past five years, Len has held the following directorships:

Valhalla Oil and Gas AS

Valhalla Oil and Gas Limited

Len holds a BCompt. from the University of South Africa.

There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.

Enquiries:

Investors Scott Richardson Brown	Ascent Resources plc	Tel:  [phone]
Matt Goode Charlotte Stranner Ben Thompson	finnCap (NOMAD & Broker)	Tel:  [phone]
Press Anthony Cardew Alexandra Stoneham	Cardew Group	Tel:  [phone]

Notes:

Ascent Resources plc has a diversified portfolio of hydrocarbon exploration and development projects across five countries in Europe: Slovenia, Italy, Switzerland, Hungary, and the Netherlands. 

 

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