Regal Petroleum plc (part of Smart Energy Group), oil and gas exploration and production company in Ukraine, announces changes in its Board of Directors from 29 August 2017.
In particular, Mr. Adrian Coates has left the post of the Company's Independent Director, which he was occupying during the last 9 years. Mr. Bruce Burrows joined the Board of Directors instead. Currently, he is the chief financial officer and director of Lekoil Limited.
Mr. Barrows has extensive experience in the oil and gas industry, particularly in Ukraine and Eastern Europe, since he was holding the position of CFO of JKX Oil & Gas plc during 14 years until 2011. He is a member of the Institute of Chartered Accountants in Australia and New Zealand. He holds a bachelor's degree from the University of Canterbury (New Zealand) and a degree in accounting from Victoria University (New Zealand).
Over the last five years, he held the position of director in the following companies: Seven Energy (UK) Limited, Seven Energy Finance Limited, Seven Energy BVI Limited, Exoro Holding BV, Rialto Energy Limited (now called Azonto Petroleum Limited).
It was also previously reported that Regal Petroleum plc was founded in 1996 and is a public company listed on the AIM London Stock Exchange. In Ukraine, the company operates through its Representative Office, Regal Petroleum Corporation Limited, and Prom-Energo Product LLC. All the companies are part of Smart Energy Group.
Regal Petroleum Corporation Limited holds special permits for the commercial development of Mekhedovsko-Golotovschinskoye and Sviridovskoye gas-condensate deposits (Poltava region) valid until 2024. Prom-Energo Product LLC holds special permits for commercial development of Vasischevskoye gas-condensate deposit (Kharkov region) with a validity period up to 2032.
Reference
Smart Energy is a part of Smart-Holding in charge of implementing exploration projects, commercial development of the hydrocarbon deposits and alternative energy initiatives.
Oil & Gas business block of Smart Energy is represented by gas producing Ukrgazvydobutok (Kharkov region) and Regal Petroleum, a listed British company having assets in Poltava and Kharkov regions (Prom-Energo Product).