Appointment of Dr Alan Stein as a Non Executive Director
Sydney, Sep 6, 2013 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) (BCGYF:OTCMKTS) ("Buccaneer" or "the Company") is pleased to advise that it has appointed Dr Alan Stein as a non-executive director of the Company effective immediately.
Dr Stein is a geologist with over 20 years' experience in the international oil and gas industry. He was the Chief Executive Officer of AIM listed Fusion Oil & Gas plc which made several discoveries offshore Mauritania.
In 2004 he was one of the founders of Ophir Energy plc where he was the CEO from inception until 2011. Ophir has made significant discoveries offshore Equatorial Guinea and Tanzania and is listed on the Main Market of the London Stock Exchange where it is a constituent of the FTSE 250 index and has a market capitalisation of approximately GBP2.0 billion (AUD$2.9 billion).
Dr Stein has been Non-Executive Chairman of Neon Energy Limited (ASX 300 Company) since 2009, Neon Energy Limited has energy interests offshore Vietnam and onshore in California, USA.
He is also the Non-Executive Chairman of Hanno Resources Limited which has mining interests in Africa.
Dr Stein and the Company have executed a Subscription Agreement where, subject to shareholder approval that is to be sought at the Company's AGM in late November 2013, will subscribe for 10,000,000 shares at an issue price of $0.052 to raise $520,000.
In addition Mr Curtis Burton and other key management will be subscribing for a total of 5,000,000 shares at $0.052 to raise $260,000.
Dr Stein resides in Perth, Australia and the Company is delighted that he has accepted the position with Buccaneer and believes his knowledge and experience in the international oil and gas industry will be invaluable to the Company as it moves towards developing its assets within the Cook Inlet, Alaska.
The Company is continuing its search for a second new non executive director.
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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