TIDMGAS
RNS Number : 5523U
Gasol plc
26 June 2009
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26 June 2009
Gasol plc
("Gasol" or "the Company")
Gasol announces that Charles Osezua has been appointed as Chairman of Steering
Committee of Zafiro gas monetisation project in Equatorial Guinea
Gasol is pleased to announce that Charles Osezua will head the steering
committee of the Zafiro gas monetisation project in Equatorial Guinea being
developed by SONAF G.E. SA ("SONAF"), a joint venture between Gasol and Sociedad
Nacional de Gas, G.E. ("SONAGAS G.E."), the national gas company of Equatorial
Guinea. In his new role, Charles will provide strategic direction to this
project and oversee its execution. Following this appointment, he has stepped
down from the Gasol Board of Directors.
During the past year, Charles has been instrumental in achieving progress in the
Zafiro gas project, leading to Gasol's direct joint venture with SONAGAS G.E.
and commitment of gas in the Zafiro Development Area, Block B to SONAF for
developing gas monetisation project along with associated infrastructure.
Charles brings substantial experience and expertise in the emerging West African
gas markets. A professional engineer with a distinguished career with the
Nigerian National Petroleum Corporation (NNPC), he was at the forefront of
championing gas utilization and development initiatives, both within and outside
of government. He is currently Chairman of the Owel-Linkso Group in Nigeria and
founded Gaslink Nigeria Limited, Nigeria's premier gas utility company and
operator of the Greater Lagos gas distribution system. He was also formerly
Special Assistant to the Head of State, Federal Republic of Nigeria on Petroleum
Matters and a member of the Technical Advisory Committee of Nigeria LNG Limited.
Charles has been awarded a bonus of $ 50,000 and 2,315,083 shares for his
contribution to the Zafiro project over the past year. Application has been made
for the New Ordinary Shares to be admitted to trading on AIM which is expected
to take effect on 1 July 2009. Following admission to trading of the New
Ordinary Shares, the Company's issued share capital will comprise
1,047,945,711 ordinary shares, which figure may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or change to their interest in Gasol under
the FSA's Disclosure and Transparency Rules. The New Ordinary Shares will rank
pari passu with the existing Ordinary Shares.
Charles Osezua commented:
"I am delighted that Gasol has made significant progress in its various project
opportunities in West Africa and more specifically in Equatorial Guinea. Gasol
is well on its way to achieving its vision to become Africa's premier
independent gas company. I am very pleased to be part of the team to develop the
Zafiro gas monetisation project. I look forward to bringing my expertise and
experience in the West African gas business to the team."
Theo Oerlemans, non-executive Chairman of Gasol commented:
"Charles Osezua has been an invaluable member of Gasol's board, with his
experience and strategic insights into the West African gas industry. His
contribution has been immense during Gasols project development phase. I am
confident that Charles will continue to make significant contributions to the
successful development of the gas monetisation project in Equatorial
Guinea."
Soumo Bose, Chief Executive of Gasol, commented:
"It has been an honour to work so closely with Charles Osezua over the past few
years. Charles helped set the foundations of the Company to realise its vision.
We are pleased that Charles's extensive experience will now be available
directly to the Zafiro project to ensure its continued progress."
Enquiries
Gasol plc
Tel: 020 7290 3300 Soumo Bose, Chief Executive
Officer
Caroline Houry,
Investor Relations
Pelham PR
Tel: 020 7337 1500 Alex Walters
Francesca Tuckett
Jefferies International Limited
Tel: 020 7029 8000 Jack Pryde
Oliver Griffiths
Notes to Editors
About Gasol
Gasol's strategy is to identify and develop commercially
attractive opportunities in the gas sector, with initial focus on liquefied
natural gas ("LNG"), sourced from Africa's Gulf of Guinea region.
Through the creation of a substantial value chain via a series of partnerships
involving gas gathering, liquefaction and the shipment and regasification of LNG
into high-value markets worldwide, Gasol aims to become the premier
Africa-focused gas independent.
Gasol works in partnership with governments, energy majors, utilities
and independents in Africa, the USA and Europe. Gasol is Afren's
exclusive downstream liquefaction partner in developing an LNG monetisation
strategy.
Further information is available from the Company's website www.gasolplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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