Sovereign Oilfield: Termination as Chairman | Company Announcements

Thursday 12 March, 2009

Sovereign Oilfield

Termination as Chairman

RNS Number : 7648O

Sovereign Oilfield Group plc

12 March 2009

FOR IMMEDIATE RELEASE

12 March 2009

SOVEREIGN OILFIELD GROUP Plc

('Sovereign' or 'the Company' or 'the Group')

Termination as Chairman

Sovereign Oilfield Group Plc, the Aberdeen based diversified oilfield services group, announces that
Robert Keith Ellis has had his contract as Chairman and Director terminated with immediate effect.

In a simultaneous move Geoffrey Stuart Pearson FCA FSI, was unanimously appointed as Acting Chairman and will assist with the Company's current refinancing.

Stuart is a very experienced corporate financier and has the skill and experience to assist the Company to complete its current refinancing and allow the Board to continue to develop the business. He has been a Non Executive Director of the Company since Listing.

Further information:

Sovereign Oilfield Group Plc

Graham Burgess, Chief Executive Officer

Julie Cowie, Finance Director

Tel: 01224 261900

Buchanan Communications

Tim Thompson

Tel: 0207 466 5000

Charles Stanley Securities - Nominated Advisor

Mark Taylor/Freddy Crossley

Tel: 0207 149 6000

This information is provided by RNS

The company news service from the London Stock Exchange

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