Business
Appointment of CEO and VP Exploration
Appointment of CEO and VP Exploration.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7405H Echo Energy PLC 12 June 2017 \n\n \n12 June 2017\n \n \nEcho Energy PLC\nAppointment of Chief Executive Officer and VP Exploration\n(\"ECHO\" or the \"Company\")\n \nEcho Energy, the South and Central American focused upstream gas company, is pleased to announce the appointment of Fiona MacAulay as Chief Executive Officer and Director of the Company from July 5th.\n \nFiona has over 30 years of experience in the oil and gas industry, most recently as Chief Operating Officer and Technical Director of Rockhopper Exploration plc. Fiona has led the company's work on the Sea Lion project in the North Falkland Basin where multiple discoveries in Sea Lion and most recently the Elaine Isobel complexes have resulted in audited 2C contingent resources of over half a billion barrels. Fiona, a Chartered Geologist, started her career with Mobil North Sea Limited in 1985 and has subsequently held senior roles in a number of leading oil and gas firms, including Amerada Hess and BG. She is European President of the American Association of Petroleum Geologists.\n \nThe Company would also like to confirm the appointment of Julian Bessa as Vice President, Exploration. Julian brings over twenty years exploration experience across the region, including at BG where he spent time as Bolivian Exploration Manager and VP Exploration Brazil. \n \nThe current Chief Executive Officer, Greg Coleman, will be stepping down immediately to pursue other opportunities but will be staying on with Echo in the role of transitional advisor until 1st September 2017. The Board of Echo would like to thank Greg for guiding the Company through a successful transition.\n \nFurther to her appointment, Fiona MacAulay has been awarded options over 24 million new ordinary shares exercisable at 16.12 pence per share. The options vest after 3 years and expire after 5 years. The Company has also agreed to issue 2 million 5 year warrants over new ordinary shares exercisable at 16.12 pence per share to select individuals who have worked with the Company identifying potential asset acquisitions.\n \nJames Parsons, Chairman of Echo Energy, commented:\n'We are delighted to welcome Fiona as Chief Executive Officer. The Board and I are huge support...