RNS Number : 3836S
Sovereign Oilfield Group plc
18 May 2009
FOR IMMEDIATE 18th May 2009
Ref: 0910
SOVEREIGN OILFIELD GROUP Plc
('Sovereign' or 'the Company' or 'the Group')
Directorate Change
Sovereign Oilfield Group Plc (AIM: SOGP) announces the resignation of Dr. Peter Felter, as Deputy Chairman.
Dr Peter Felter co-founded the Company in October 2003 and has been Chairman since incorporation until 19th November 2008 when he stepped down to become Deputy Chairman.
Dr Felter, LLM, PhD (Cantab) is a recognized leading international energy lawyer and was instrumental in building the Company and guiding it through flotation onto AIM in September 2005. He has played a key role in all the acquisitions made by the Company, and as General Counsel to the Company.
With the Company now refinanced and trading in their shares about to resume on AIM, Dr Felter has decided to step down from the Board with immediate effect to pursue other business interests in the Middle East and elsewhere.
Commenting on the resignation of Dr Felter, Graham Burgess said, 'Peter Felter and I founded Sovereign Oilfield Group over five years ago and over the period Peter has played a critical role in the Company's development as it has grown organically and through acquisition. Peter remains a significant shareholder in Sovereign and remains strongly supportive of Sovereign, the Board and our current plans and strategy. I wish to place on record our gratitude for his contribution and wise counsel over the years. All at Sovereign join in wishing him well in his future endeavours'.
Further information:
Sovereign Oilfield Group Plc Tel: 01224 261900
Graham Burgess, Chairman; Julie Cowie, Finance Director
Charles Stanley Securities - Nominated Advisor Tel: 0207 149 6000
Mark Taylor
Buchanan Communications Tel: 0207 466 5000
Tim Thompson/Catherine Breen
About Sovereign Oilfield Group Plc
Sovereign, which joined AIM in September 2005, was formed in October 2003, by Dr Peter Felter and Mr Graham Burgess, for the specific purpose of developing an oilfield service company focused on the provision of engineering, fabrication and drilling services and personnel to oil and gas companies and contractors in the UK and internationally and the promotion of new 'high tech' IP and technologies for enhancing oil and gas drilling and production.
This information is provided by RNS
The company news service from the London Stock Exchange
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