Business
New Non-Executive Director
New Non-Executive Director.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n Ascent Resources PLC\n15 May 2006\n\n Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n\n15 May 2006\n\n Ascent Resources plc ('Ascent' or 'the Company')\n\n New Non-Executive Director\n\n\nAscent Resources plc, the AIM traded oil and gas exploration and production\ncompany, has appointed Peter Earl to its Board as a non-executive director with\nimmediate effect. Mr. Earl's appointment complements and expands the already\nstrong capabilities of the existing Board.\n\n\nMr. Earl has considerable experience in corporate finance and power generation.\nHe is currently the CEO of AIM listed independent power plant developer, IPSA\nGroup plc, and Managing Director of Rurelec plc, a company established to\ndevelop rural electrification and power generation projects in Latin America,\nalso listed on AIM.\n\n\nAfter beginning his career at the Boston Consulting Group, advising state-owned\ncompanies being reorganised for privatisation, Mr. Earl became an investment\nbanker at Blyth Eastman Dillon. He then worked at Orion Bank in the early 1980s\nand subsequently was a founding director of Arab Banking Corporation's\ninvestment bank. During his career, he has advised ministries of finance and\ncentral banks in Abu Dhabi, Albania, Kuwait and Saudi Arabia.\n\n\nActing on secondment to the World Bank and UNDPE, Mr. Earl has advised on\nprivatisations in Latin America and Eastern Europe, where he has served as\nDeputy Chairman for the United Nations Economic Commission for the Europe\ninfrastructure finance group. In the mid 1990s he advised on US$6 billion of\ncross-border power sector acquisitions and bids, involving 5,000MW of installed\ncapacity and more than two million distribution customers, before founding\nIndependent Power Corporation in late 1995.\n\n\nMr. Earl has also previously held directorship positions with amongst others The\nCarter Organization Inc, and Tranwood PLC. He is the author of the standard\nEuropean textbook on cross-border takeovers published by Euromoney.\n\n\nAscent Chairman John Kenny said: 'I am committed to building a first-rate Board\nof Directors to develop the assets of Ascent for its shareholders. Peter's\nappointment represents an important step in achieving this objective. He has a\nwealth of experience gained in the finance, hydrocarbon and power generation\nsectors, and I am co...