GRAND CAYMAN, CAYMAN ISLANDS, Nov 27, 2014 (Marketwired via COMTEX) —
Tethys Petroleum Limited (“Tethys” or the “Company”) (TPL)(TPL) is pleased to announce that the Board of Directors of
the Company (the “Board”) has unanimously resolved to appoint John
Bell as the new Executive Chairman of the Company, with effect from
26 November 2014.
Following the appointment of John Bell as Executive Chairman, the
Executive Committee of the Board now consists of John Bell, Julian
Hammond and Denise Lay.
Board Committee Appointments
The Company is also pleased to announce the following appointments of
directors to Board Committees, with effect from 26 November 2014:
David Botting has been appointed to the Audit Committee, to serve
alongside Marcus Rhodes and James Rawls. Marcus Rhodes will continue
to serve as Chairman of this Committee.
David Henderson and David Roberts have been appointed to the Reserves
Committee to serve alongside James Rawls, with David Roberts being
appointed to serve as Chairman of this Committee.
David Botting and David Roberts have been appointed to the
Compensation and Nomination Committee, with David Botting being
appointed to serve as Chairman of this Committee.
The Board has also resolved to discontinue the mandate of the
Strategic Risk Committee, with future Board level decisions on
strategic risk being reserved for the Board.
Julian Hammond, Chief Executive Officer, commented, “The appointment
of John Bell as Executive Chairman significantly strengthens our
Executive team. John brings over 30 years’ experience in the
international energy sector and has significant board level and
corporate governance experience having served as a director on
several boards both private and listed. Denise Lay and I look forward
to working closely with John and the other new non-executive
directors to implement the Board’s strategy and bring value to
shareholders.”
Further information on each of the directors can be found on the
Company’s website at www.tethyspetroleum.com.
Tethys is focused on oil and gas exploration and production
activities in Central Asia and the Caspian Region. This highly
prolific oil and gas area is rapidly developing and Tethys believes
that significant potential exists in both exploration and in
discovered deposits.
This press release contains “forward-looking information”. Such
forward-looking statements reflect our current views with respect to
future events, including the significant potential of exploration and
discovered deposits, and are subject to certain assumptions. See our
Annual Information Form for the year ended December 31, 2013 for a
description of risks and uncertainties relevant to our business,
including our exploration activities. The “forward looking
statements” contained herein speak only as of the date of this press
release and, unless required by applicable law, the Company
undertakes no obligation to publicly update or revise such
information, whether as a result of new information, future events or
otherwise.
Contacts: Tethys Investor Relations Tethys Petroleum Limited Sabin Rossi Vice President Investor Relations srossi@tethyspetroleum.com Tethys Petroleum Limited info@tethyspetroleum.com www.tethyspetroleum.comwww.twitter.com/tethyspetroleum
SOURCE: Tethys Petroleum Limited
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