Business
Management Change - Amendment
Management Change - Amendment.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n Pantheon Resources PLC\n02 January 2008\n\n\n\n\n\nPlease note: The following announcement replaces the earlier release. The\nheadline has been amended to Management Change.\n\n\nPress release 2 January 2008\n\n\n\n\n\n Pantheon Resources plc - Appointment of Chief Executive Officer\n\n\nPantheon Resources, the AIM-listed oil and gas exploration company active in the\nGulf of Mexico, is delighted to announce the appointment of a Chief Executive\nOfficer ('CEO'), John B. ('Jay') Cheatham. This is effective from 1st January\n2008, subject to final contract.\n\nWithin a period of 21 months, Pantheon has gone from a pure exploration company\nawaiting drilling on its first prospect to one with production from six wells\nand more high impact prospects drilling or to be drilled. At this stage, the\nboard has considered that in order for the company to evolve further, the\nappointment of a CEO was essential.\n\nJay has more than 35 years' experience in all aspects of the petroleum business.\nHe has extensive international experience in both oil and natural gas, primarily\nfor ARCO. At ARCO, Jay held a series of senior appointments. These include\nSenior Vice President and District Manager (ARCO eastern District) with direct\nresponsibility for Gulf Coast US operations and exploration and President of\nARCO International where he had responsibility for all exploration and\nproduction outside the U.S. Jay's most recent appointment has been as President\nand CEO of Rolls-Royce Power Ventures, where he had the key responsibility for\nrestructuring the company.\n\nJay also has considerable financial skills in addition to his corporate and\noperational expertise. He has acted as Chief Financial Officer for ARCO's US oil\nand natural gas company (ARCO Oil & Gas). Moreover he has understanding of the\ncapital markets through his past position as CEO to the Petrogen Fund, a private\nequity fund.\n\nSue Graham said 'The appointment of Jay as CEO heralds a crucial stage in\nPantheon's development and the board believes that the company is fortunate in\nsecuring his services. His capabilities in all aspects of the oil and gas\nbusiness are especially relevant for a company such as Pantheon. Critically Jay\nhas familiarity with the US Gulf Coast region. In addition to running ARCO's\noperations in the region, Jay was born in Louisiana and was...