Magnolia Petroleum Plc Board Changes

 
TIDMMAGP 
 
Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas 
 
27 July 2017 
 
             Magnolia Petroleum Plc ('Magnolia' or 'the Company') 
 
                                 Board Changes 
 
Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and 
production company, announces that interim non-executive Chairman Ron Harwood 
is retiring from the Board with immediate effect. 
 
Leonard Wallace, an existing non-executive Director of Magnolia, will assume 
the position of Chairman of the Company on an interim basis until a permanent 
replacement has been appointed.  Mr Wallace joined the Board of Magnolia as a 
Non-Executive Director in May 2016.  He is an experienced management 
professional specialising in drilling engineering, well construction, 
production management and rig operation with many years' experience within the 
oil and gas exploration and production industry, particularly the US onshore 
sector. 
 
Magnolia CEO, Rita Whittington said, "I would like to take this opportunity to 
thank Ron for the huge contribution he has made to the development of Magnolia 
since its inception.  Ron was not only instrumental in bringing the Company to 
AIM, but the experience and contacts he has built up within our industry during 
his long and distinguished career in the US oil and gas sector have been 
invaluable to the Company. 
 
"Ron has always shown 100% commitment to Magnolia, none more so than over the 
last few months.  Despite notifying the Board of his intention to retire 
earlier this year, he chose to remain in his position until the future 
direction of the Company had been assured.  Thanks to the US$18.5million 
capital management contract with Western Energy Development LLC, this has now 
been achieved.   Over the years we have become friends as well as colleagues 
and I, along with the rest of the Board, wish him all the very best for 
future." 
 
The information contained within this announcement constitutes inside 
information stipulated under the Market Abuse Regulation (EU) No. 596/2014. 
 
                                 * * ENDS * * 
 
For further information on Magnolia Petroleum Plc visit 
www.magnoliapetroleum.com or contact the following: 
 
Rita Whittington           Magnolia Petroleum Plc       +01918449 8750 
 
Jo Turner / James Caithie  Cairn Financial Advisers     [phone] 
                           LLP 
 
Colin Rowbury              Cornhill Capital Limited     [phone] 
 
Lottie Brocklehurst        St Brides Partners Ltd       [phone] 
 
Frank Buhagiar             St Brides Partners           [phone] 
                           Ltd 
 
 
 
END 
 

(END) Dow Jones Newswires

July 27, 2017 02:00 ET (06:00 GMT)