Petroceltic (LSE:PCI)
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RNS Number : 1127I

Petroceltic International PLC

23 March 2015

Dublin

23 March 2015

Petroceltic International plc

Board and Senior Management Changes

Petroceltic International plc ("Petroceltic" or the "Company"), the oil and gas exploration, development and production company focused on the Middle East and North Africa, the Mediterranean and Black Sea regions, today announces a number of changes to the Board of the Company and its Committees with immediate effect.

Following the appointment of Neeve Billis and Nicholas Gay as Independent Non-Executive directors and the resignation of Don Wolcott and Joe Mach as Non-Executive directors, the following changes have been made to the Board and its Committees.

          --     Neeve Billis has been appointed as Senior Independent Director and has joined the Audit, 

Nominations and Remuneration Committees.

          --     Nicholas Gay has been appointed as Chairman of the Audit Committee and has also joined the 

Nominations Committee.

Following these changes the Audit Committee will consist of Nicholas Gay (Chair), Neeve Billis and Alan Parsley and the Remuneration Committee will consist of Alan Parsley (Chairman), Ian Craig and Neeve Billis. The Nominations Committee will continue to be chaired by Robert Adair and will also include Brian O'Cathain, Ian Craig, Nicholas Gay and Neeve Billis.

In addition to these changes, Tom Hickey, the Company's Chief Financial Officer, has been re-appointed to the Board of the Company with immediate effect. Tom previously served on the Board from December 2010 to July 2014.

Finally, David Thomas, the Company's Chief Operating Officer, has indicated his intention to leave the Company for personal reasons and is expected to depart from the business during April.

Robert Adair, Chairman of Petroceltic Commented:

"I am delighted to confirm the appointment of Neeve Billis as Senior Independent Director and Nicholas Gay as Chairman of the Audit Committee and to welcome Tom Hickey back to the Board as an Executive Director.

I have worked with David Thomas for over 8 years at both Melrose Resources and Petroceltic and I would like to sincerely thank him for his hugely significant contribution to our business over this time. He leaves with our very best wishes for the future."

Ends

For further information, please contact:

   Brian O' Cathain /Tom Hickey, Petroceltic International        Tel: +353 (1) 421 8300 
   Philip Dennis / Rollo Crichton-Stuart, Bell Pottinger              Tel: +44 (20) 3772 2500 
   Douglas Keatinge / Joe Heron, Murray Consultants              Tel: +353 (1) 498 0300 
   John Frain / Roland French, Davy                                          Tel: +353 (1) 679 6363 

Notes to Editors:

Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on North Africa, Mediterranean and Black Sea Regions, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Egypt, Bulgaria, the Kurdistan Region of Iraq and Italy.

Additional Information:

Pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM and ESM Rules for Companies, the following information is disclosed:

Thomas Hickey, age 46 is or has been a member or director of the following companies or partnerships during the previous five years:

Current Directorships: Petroceltic International plc, Petroneft Resources plc, O'Rahilly Row Limited.

Previous Directorships: Ikon Science Limited, Senscomm Photonics Ltd.

Mr. Hickey currently holds 349,314 ordinary shares in Petroceltic. There are no further details that are required to be disclosed pursuant to Rule 17 and Schedule 2(g) of the AIM and ESM Rules.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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