19 Apr 2018
Appointment of Chief Operating OfficerIndependent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce the appointment of Mark Hughes to the Board of IOG as Chief Operating Officer.
Mark is a qualified civil engineer and a Chartered Member of the Institute of Mechanical Engineers. He has held senior management roles at several international oil and gas companies including Shell, Lasmo and Gaz de France. Most recently he was Head of Development for RWE Dea UK where he was responsible for the Breagh and Clipper South Developments before becoming Commercial Director for INEOS Breagh.
Andrew Hockey, CEO of IOG commented:
Having worked in the industry for 39 years, Mark has significant sector experience and we are delighted that he is joining our team. As we move towards the full development of our SNS assets Mark's North Sea experience and commercial expertise perfectly complements the rest of the senior management team and we look forward to working with him.
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
Mark Andrew Hughes
Mr Hughes (aged 60) has been a director of the following companies during the five years preceding the date of this announcement:
|Current directorships||Previous directorships|
|2 Cromwell Road (Management) Limited||Ineos UK SNS Limited|
|Ineos Offshore BCS Limited|
|Ineos Clipper South B Limited|
|Ineos Clipper South C Limited|
|Ineos UK E&P Holdings Limited|
There is no further information to be disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.
Certain information communicated in this announcement was, prior to its publication, inside information for the purposes of Article 7 of Regulation 596/2014.
Independent Oil and Gas plc: +44 (0) 20 3879 0510
Andrew Hockey (CEO)
James Chance (CFO)
finnCap Ltd: +44 (0) 20 7220 0500
Christopher Raggett / Anthony Adams
Emily Morris / Camille Gochez
Camarco: +44 (0) 20 3757 4980
Georgia Edmonds / Tom Huddart / Monique Perks
About Mark Hughes:
Mark started his career at Shell International Exploration and Production in 1979 and held a number of roles before leaving as Head of Topsides Design for the Sole Pit Compression Project in 1991. From 1991 to 1999, Mark held various senior positions at Lasmo leaving in 1999 as Group Development Engineering Manager for Lasmo UK plc. In 2000 he became the Group E&P Exploration and Operations Manager, Paris, for Gaz de France. In 2004, Mark joined GDF Britain as Managing Director and also held the title of GDF Country Manager from June 2004 to June 2007. From 2007 to 2009 he was founder and CEO of Hibernia Energy an independent Southern North Sea focussed gas developer. In 2009 Mark was made Head of Development for RWE Dea UK where he was responsible for the RWE operated North Sea Breagh and Clipper South Developments from inception to first gas, representing some £880 million gross investment. The RWE Dea UK business was purchased by INEOS, a midstream chemicals business, in November 2015 and in March 2016, Mark was made Commercial Director at INEOS Breagh. Mark also acted as the INEOS Commercial Representative on the Industry Group Commercial Forum and maintained the company's key interface with the OGA.
Mark is a Chartered Member of the Institute of Mechanical Engineers and has a technical background with a first-class degree in Civil Engineering from the University of Southampton.
About Independent Oil and Gas:
IOG owns substantial low risk, high value gas Reserves in the UK Southern North Sea. The Company is targeting a 2P peak production rate in excess of 200 MMcfd (c. 35,000 Boe/d) from its substantial current portfolio via an efficient hub strategy. Alongside this it continues to pursue value accretive acquisitions, to generate significant shareholder returns. All IOG's licences are owned 100% and operated by IOG.
Further information can be found on www.independentoilandgas.com