Xplorer PLC Directorate Change (9814F)

TIDMXPL

RNS Number : 9814F

Xplorer PLC

01 May 2014

Xplorer Plc

("Xplorer" or the "Company")

Appointment of Executive Chairman

International Energy Sector Executive to lead Xplorer

Xplorer Plc (LSE: XPL) the LSE Main Market listed investment company focussing on the oil and gas sector, is pleased to announce the appointment today of Roger Tucker as Executive Chairman. John Davies, will remain on the board as a Non Executive Director.

Having completed a PhD in Sedimentology & Geochemistry in 1981, Mr Tucker started his thirty year career in the energy sector with Exxon, culminating in his recent role as Senior Vice President, Europe, of BG Group Plc, until May 2013. He has accumulated senior level experience across a broad spectrum of companies from the Major and Independent oil and gas companies to emerging and private equity funded entities.

Having left Exxon in 1989, Mr Tucker joined LASMO with a mandate to build its exploration interests in the North Sea, the Middle East and Africa where he helped drive significant change through the rationalisation of LASMO's asset portfolio.

He became LASMO's Director of Global Business Development in 1993 and having helped expand the company's interests, was promoted to LASMO's Group Executive Committee four years later. In this role, Mr Tucker was responsible for the company's Latin American activities and oversaw a five-fold growth of oil production to 44,000 bopd.

Having departed LASMO in 2001, Mr Tucker focused his interest on the Independent Oil & Gas sector in the roles of senior executive director to four companies, in each case driving change, accelerating productivity and sourcing investment. For example, prior to his appointment to BG Group Plc, he had formed an investment company to participate in the consolidation of UK small cap energy companies, raising $400m investment in the process.

His appointment to BG Group Plc gave Mr Tucker responsibility for its Europe operations which employed 700 staff, produced 140,000boepd and operated several fields and developments. In addition to taking direct responsibility for Europe, he sat on the Regional Executive and Investment Committees for the Americas, Central Asia and Brazil.

John Davies, Non Executive Director, commented:

"Roger brings a wealth of experience to the table and in the Board's view, no better person exists to take Xplorer forward with its large and ambitious plans. July marks our first year as a quoted company and during that short period, a huge amount has been achieved behind the scenes.

"Our plan to enter into a substantial transaction remains firmly in place and we look forward to providing shareholders with further news shortly."

1 May 2014

Appendix

The Company confirms that there are no details to disclose under paragraphs 9.6.13 R of the Listing Rules in respect of this new director.

Enquiries:

 
 Xplorer Plc                             www.xplorerplc.co.uk 
 
  John Roddison, Director                 [phone] 
  Nicholas Nelson, Corporate Comms.       [phone] [e-mail] 
 
   Allenby Capital, Financial Adviser 
   & Broker 
 
   Nick Harriss, Director, Corporate 
   Finance                                 [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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