Business
Directorate Changes and GBA Update
Directorate Changes and GBA Update.
About this update from Jersey Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0479T\n Jersey Oil and Gas PLC\n 22 November 2021\n \n \n \n \n \n 22 November \n \n \n 2021\n \n \n \n \n \n \n Jersey Oil and Gas plc\n \n \n (\"Jersey Oil & Gas\", \"JOG\" \n or the \n \"Company\")\n \n \n \n \n \n Directorate Changes and GBA Update\n \n \n \n \n \n Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf (\"UKCS\") region of the North Sea, is pleased to announce certain changes to the composition of the Company's board of directors (the \"Board\"), a senior management appointment and an update on its Greater Buchan Area (\"GBA\") farm-out process. \n \n \n \n \n \n Highlights\n \n \n ·\n Les Thomas, formerly Non-Executive Director, has assumed the role of Non-Executive Chairman\n \n \n ·\n Graham Forbes, formerly Chief Financial Officer (\"CFO\") at Ithaca Energy Inc (\"Ithaca Energy\") from 2010 to 2020, appointed as CFO \n \n \n · \n Richard Smith, previously Corporate Development Director at Ithaca Energy from 2010 to 2020, has joined the senior management team as Chief Commercial Officer \n \n \n ·\n JOG remains actively engaged with multiple counterparties, including major infrastructure funders with respect to electrification, with regards to its GBA farm-out process - macro environment has markedly improved since initial industry engagement\n \n \n \n \n \n Board Changes\n \n \n \n \n \n With immediate effect, Non-Executive Director, Les Thomas has assumed the role of Non-Executive Chairman, replacing Marcus Stanton, who, having served as Non-Executive Chairman for the last six years, will remain on the Board as a Non-Executive Director and chair of the audit committee. Les has over 35 years' experience in the oil and gas industry at Marathon Oil UK Limited and John Wood Group plc and, more recently, was Chief Executive Officer (\"CEO\") of Ithaca Energy from 2013 to 2020.\n \n \n \n \n \n Graham Forbes has joined the Board as CFO with immediate effect. Graham is a Chartered Accountant with over 20 years' experience in the oil and gas industry and was CFO of Ithaca Energy from 2010 to 2020. He qualified as a Chartered Accountant at PriceWaterhouseCoopers before moving to ExxonMobil, where for over five years he worked on a variety of operational and acq...