2nd Sep 2013 11:04
2 September 2013
DRAGON OIL PLC
(the "Company" or together with its subsidiaries "Dragon Oil" or the "Group")
Appointment of a new Independent Non-executive Director
Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, is pleased to announce the strengthening of its Board of Directors with the appointment of Mr Justin Crowley as an Independent Non-executive Director to the Board of the Company.
Details of changes in Dragon Oil's various committees, as well as Mr Crowley' participation in the committees will be determined and implemented in due course.
The Chairman, Mohammed Al Ghurair, commented:
"I am delighted to announce that Mr Crowley has joined Dragon Oil's Board in the role of a Non-executive Director. Following the resignation of Nigel McCue earlier this year, we had been looking for a Non-executive Director with strong accounting experience and we felt Mr Crowley was the right person. He brings extensive external and internal audit experience, risk management and corporate advisory skills, as well as understanding of corporate governance. I and my fellow members of the Board look forward to working with Mr Crowley to support Dragon Oil in its growth and diversification journey."
Further information on the new Director
Mr Crowley is an Audit and Assurance Partner at BDO International specialising in regulated industries, oil and gas industry and other manufacturing and industrial sectors. Mr Crowley is based in Dubai, UAE. Prior to joining BDO International, Mr Crowley had an extensive audit career with PricewaterhouseCoopers as an auditor and with two UK-based mid-tier auditing firms as a Director. His working experience covers external audit services; internal audit, specifically risk management, corporate governance, compliance audit; as well as forensic audit and corporate advisory.
Mr Crowley graduated from the London School of Economics and Political Science in 1995. He is a member of the Institute of Chartered Accountants in England and Wales.
The directorships and partnerships held by the proposed new Director now and over the five years preceding the date of appointment are as follows:
Director | Current Directorships/ Partnerships | Previous Directorships/ Partnerships |
Mr Justin Phillip Crowley
| - | SixOneThreeOne Limited |
Mr Crowley does not have any shares or share options in the Company.
The Company confirms that there are no other matters requiring disclosure in relation to Regulation 6.6.7 (1) to (6) of the Irish Listing Rules and Regulation 9.6.13 (1) to (6) of the UK Listing Rules.
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For further information please contact:
Investor and analyst enquiries
Dragon Oil plc (+44 (0)20 7647 7804)
Anna Gavrilova
Media enquiries
Citigate Dewe Rogerson (+44 (0)20 7638 9571)
Martin Jackson
About Dragon Oil
Dragon Oil plc is an international oil and gas exploration, development and production company, quoted on the London and Irish Stock exchanges (Ticker symbol: DGO). Its principal producing asset is in the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan.
Dragon Oil (Turkmenistan) Ltd., a wholly owned subsidiary of Dragon Oil plc, holds 100% interest in, and is the operator of, the Production Sharing Agreement for the Cheleken Contract Area. The operational focus is on the re-development of two oil and gas producing fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov).
The Group has exploration blocks in Tunisia, Iraq and Afghanistan. Dragon Oil's diversification strategy is to add exploration and production assets within Africa, parts of Asia and the Middle East in order to create a diversified and balanced portfolio of assets for the Group.
www.dragonoil.com
Disclaimer
This news release may contain forward-looking statements concerning the financial condition and results of operations of Dragon Oil. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. No assurances can be given as to future results, levels of activity and achievements and actual results, levels of activity and achievements may differ materially from those expressed or implied by any forward-looking statements contained in this report. Dragon Oil does not undertake any obligation to update publicly or revise any forward-looking statement as a result of new information, future events or other information.
Related Shares:
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