Regal Petroleum PLC Management Appointments (4302B)

TIDMRPT

RNS Number : 4302B

Regal Petroleum PLC

06 June 2019

6 June 2019

Regal Petroleum plc

("Regal" or the "Company")

Management Appointments

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, is pleased to announce the following changes to the management of the Company.

Mr Bruce Burrows, who is currently a Non-Executive Director of the Company, has been appointed as Finance Director of the Company. This appointment is an executive role and is effective from 5 June 2019. Mr Burrows has extensive experience in financial management in the oil and gas industry, and in particular in Ukraine and Eastern Europe, having been Finance Director of JKX Oil & Gas plc for 14 years until 2011. Since then, he has held similar senior financial management roles with AITEO Group, Lekoil and Seven Energy international. He is a member of the Institute of Chartered Accountants of Australia & New Zealand, and has a BSc Honours from Canterbury University (New Zealand) and a Diploma in Accounting from Victoria University (New Zealand).

Mr Oleksiy Zayets, who joined the Company in an interim capacity last year, has been appointed as Chief Financial Officer of the Company's Ukrainian operations, based in Kiev, Ukraine. Mr Zayets is an experienced financial management executive, having held senior financial management roles within the DTEK Holdings Group, including as Chief Financial Officer of a gas production company and a heat and power generation company. He is a Certified Accounting Practitioner, and has a BA Heat and Power Engineering from the Donetsk National Technical University (Ukraine), a Master of Management Diploma from the Donetsk State Academy of Management (Ukraine) and an MBA from the National University of Kiev-Mohyla Academy (Ukraine).

Sergii Glazunov, Chief Executive Officer, said: "I am pleased to welcome both Bruce and Oleksiy to the executive management of the Regal. With the excellent progress in the development of our gas and condensate fields in Ukraine, and the significant growth in our revenues and cash flows, we are very pleased to strengthen the financial management within our business with executives of the calibre of Bruce and Oleksiy."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
 Regal Petroleum plc             Tel: [phone] 
 Chris Hopkinson, Chairman 
  Sergii Glazunov, CEO 
 
 Strand Hanson Limited           Tel: [phone] 
 Rory Murphy / Richard Tulloch 
 
 Citigate Dewe Rogerson          Tel: [phone] 
 Nick Hayns / Elizabeth Kittle 
 

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June 06, 2019 10:18 ET (14:18 GMT)