Xcite Energy Chairman resigns

Xcite Energy today named Timothy Stephen Jones as non-executive Chairman and Henry (“Harry”) George Wilson as a non-executive director of the Company, effective from 7 May 2014.

Scott Spirit Tanker with Rowan Norway jack-up rig on Bentley

 

Roger Ramshaw has retired as Chairman for personal reasons and has resigned from the Board with immediate effect. Jones has been a non-executive director of Xcite Energy since 2009 and has a beneficial interest in 50,000 ordinary shares of the Company.

Wilson, age 61, has over 35 years’ international experience in upstream oil and gas, initially as an explorer with British Petroleum, and has since founded and been chief executive officer of several independent oil companies, including Dragon Oil plc, Endeavour Oil & Gas Limited and Sterling Energy Plc. He is currently non-executive Chairman of Eland Oil & Gas PLC.

Rupert Cole, CEO of Xcite Energy, said: “I am very pleased that Tim has agreed to accept the role of Chairman and to welcome Harry to the Board at this important time. With this combination of enhanced industry experience, I am looking forward to working with the new Board as we bring together our development partners and deliver a robust plan that will demonstrate the technical and financial capability to bring Bentley into production. I would like to thank Roger for his significant contribution since 2007 and we all wish him the very best for the future.”

 

Press Release, May 08, 2014

 

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