25th Jan 2005 12:15
Nelson Resources Limited25 January 2005 NELSON RESOURCES LIMITED ANNOUNCES APPOINTMENTS TO CHIEF FINANCIAL OFFICER AND CHIEF OPERATING OFFICER POSITIONS Nelson Resources Limited ("Nelson" or the "Company", TSX / AIM: NLG), a leadingindependent oil exploration and production company operating in Kazakhstan,today announces that it has appointed Nicolas Greene as Chief Financial Officerand appointed Simon Gill, as Chief Operating Officer. Both appointments areeffective immediately. Nicolas Greene, 57, was hired as a consultant in April 2004 and later wasappointed as Senior Vice President - Corporate Finance. He has over 20 yearsexperience as an international finance executive and is a specialist ininternational banking and finance. Mr. Greene replaces as CFO Fred Hodder, whohas been appointed Senior Vice President with responsibility for investorcommunication, compliance and corporate development. Simon Gill, 49, has served as Western Region Manager for Nelson since October2003 with responsibilities for the oversight of the Company's interests in theNorth Buzachi and Karakuduk oil fields. He also serves as CEO of ChaparralResources, in which Nelson holds a 60% ownership interest. Simon has over 24years of oil industry experience with Texaco (ChevronTexaco) and was formerlyGeneral Manager for Texaco North Buzachi Inc. Nick Zana, Nelson's Chief Executive Officer, commented, "I am delighted toannounce these appointments. Nelson is experiencing a period of high growth andthis realignment of management responsibilities reflects the Company's intentionto develop the necessary management processes and systems required for a rapidlyevolving, multi-asset enterprise. Nelson will continue to build depth in itsmanagement ranks and to address the requirements of an international, publiclylisted company." For further information, please contact: Nelson Resources LimitedFred Hodder, Senior Vice President Tel: 020 7495 [email protected] S.A. (Al) Sehsuvaroglu, Senior Vice President Tel: +7 3272 58 25 81/2/[email protected] Bell Pottinger Corporate & Financial (Investor Relations - London)Ann-marie Wilkinson / Nick Lambert Tel: 020 7861 3232 Notes to editors Senior executive appointments are subject to Toronto Stock Exchange approval. Nelson Resources Limited is an oil exploration and production company withoperations in the Republic of Kazakhstan. The Company established its presencein the Kazakhstan oil sector in 2000 and its management team, comprising bothinternational and Kazakh executives, has extensive experience of the Kazakhoperating and regulatory environment. The Company owns 50% of Kazakhoil AktobeLLP (KOA), a 50/50 joint venture between Nelson and Kazmunaigas, the nationaloil company of Kazakhstan, which is developing the Alibekmola and Kozhasaifields. The Company owns a 50% participatory interest in the North Buzachi oilfield located in western Kazakhstan (50% Nelson, 50% CNPC International(Buzachi) Inc.). In May 2004, Nelson purchased 60% of Chaparral Resources Inc.,which has a 60% interest in the joint stock company Karakudukmunai, operator ofand owner of a 60% interest in the Karakuduk field. In January of 2005, Nelsonacquired the 40% interest in this field previously owned by Kazmunaigas,bringing the Company's aggregate ownership interest in the field to 76%. TheCompany is also in the process of acquiring a 50% interest in the Arman field,with the other 50% held by Shell. The Company also holds an option to acquire aminimum 25% participatory interest in two Caspian Sea offshore blocks, ZhambaiSouth and South Zaburunye. The Company maintains its operational office inAlmaty, Kazakhstan, which oversees the field joint ventures in westernKazakhstan. Nelson and its affiliated companies employ approximately 800 people.Common shares of Nelson are listed on the Toronto Stock Exchange and London'sAlternative Investment Market under the symbol NLG. - ENDS - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NLG.L