Afren PLC Response to reports regarding CEO (4848J)

TIDMAFR

RNS Number : 4848J

Afren PLC

07 April 2015

Response to reports regarding CEO

London, 7 April 2015

Afren plc ("Afren" or the "Company"), (LSE: AFR) notes the press reports that Alan Linn is proposed to be appointed as the new CEO of the Company. Afren confirms that Alan Linn is currently acting as a consultant to the Board of Directors and that it is has agreed in principle with Mr Linn for him to be appointed as Afren's new CEO and a director of the Company with effect from completion of the interim funding (as announced on 13 March and 1 April 2015), which is expected to occur imminently.

A further announcement will be made in due course as appropriate.

For further information contact:

 
 Afren plc                                          Tel: [phone] 
  Simon Hawkins, Group Head of Investor Relations 
 Bell Pottinger (public relations adviser           Tel: [phone] 
  to Afren plc) 
  Gavin Davis 
  Henry Lerwill 
 

Disclaimer and cautionary note on forward looking statements and notes on certain other matters

Certain statements in this announcement are not historical facts and are or are deemed to be "forward-looking". The Company's prospects, plans, financial position and business strategy, and statements pertaining to the capital resources, future expenditure for development projects and results of operations, may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology including, but not limited to; "may", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "will", "could", "may", "might", "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These forward-looking statements involve a number of risks, uncertainties and other facts that may cause actual results to be materially different from those expressed or implied in these forward-looking statements because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond Afren's ability to control or predict. Forward-looking statements are not guarantees of future performances.

Factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected include, but are not limited to, the following: risks relating to changes in political, economic and social conditions in the countries in which Afren operates; future prices and demand for the Company's products; global oil production; trends in the oil & gas industry and domestic and international oil & gas market conditions; risks in oil & gas operations; future expansion plans and capital expenditures; the Company's relationship with, and conditions affecting, the Company's partners and regulators; competition; weather conditions or catastrophic damage; risks relating to law, regulations and taxation in the countries in which Afren operates, including laws, regulations, decrees and decisions governing the oil & gas industry, the environment and currency and exchange controls and their official interpretation by governmental and other regulatory bodies and by the courts; and risks relating to global economic conditions and the global economic environment. Additional risk factors are as described in the Company's annual report.

Forward-looking statements are made only as of the date of this announcement. The Company expressly disclaims any obligation or undertaking to release, publicly or otherwise, any updates or revisions to any forward-looking statement contained in this announcement to reflect any change in its expectations or any change in events, conditions, assumptions or circumstances on which any such statement is based unless so required by applicable law.

This information is provided by RNS

The company news service from the London Stock Exchange

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