The board of directors of Aurelian announce the appointment of Rowen Bainbridge to the Board and as Chief Executive Officer of Aurelian. The appointment will take effect from 27 July 2009. Michael Seymour, the current Managing Director, will become president. He will remain as a director and will continue to be particularly involved in the relationships with ministries and partners in the countries in which the Company is active.
Since its foundation by Michael Seymour in 2002, Aurelian has focused on building up its portfolio of licence interests and has established itself as a leading player in Central Europe with a significant appraisal project in Poland, gas production in Romania and prospective exploration acreage in Poland, Romania, Bulgaria and Slovakia. Aurelian needs to commercialise its resource position through focusing on converting current exploration and appraisal assets to bookable reserves and development projects. The Board has therefore decided it is now appropriate to appoint a Chief Executive Officer with the brief to lead the Company through this next phase of its growth and in particular to drive through the appraisal and development of the cornerstone Siekierki tight gas accumulation in Poland.
Rowen has over twenty-two years of international experience, in both large and small companies, in leading, delivering and executing projects across the energy sector. He has previously held positions as CEO of Ferrexpo Petroleum operating in Ukraine and he was Vice President at BHP Billiton Petroleum where he successfully developed and commercialised a range of upstream oil and gas projects. His combination of project development and operating experience will add significant value as Aurelian progresses the projects in its portfolio.
David Prior chairman of Aurelian said:
“We are delighted that Rowen is joining us. He has exactly the right combination of senior management experience, project development expertise, commercial know-how and entrepreneurial flair that Aurelian will need as it moves its main focus from oil and gas exploration to production and commercial development.”
Michael Seymour, retiring managing director of Aurelian said: “Although it is sad for me to be stepping to the side, I am absolutely clear that younger blood is needed and that a fresh approach to our projects can and will give them new and greater impetus. I look forward to remaining involved and to helping Rowen to direct the next stage in what we all feel confident will be the successful transition of Aurelian to a mature “E & P” company.”
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