Sterling Energy plc, the AIM-listed energy company with activities in the Gulf of Mexico and Africa, today announces the appointment of Dr Richard Stabbins as a non-executive director of the Company with immediate effect.
Panther Energy Limited, in which Dr Stabbins has an effective 84.4% interest, currently has a beneficial holding of 4,474,272 ordinary shares of 1 pence each (“Ordinary Shares”) representing 0.29 per cent. of the issued share capital of the Company.
Dr Stabbins, aged 63, has worked in number of senior roles within in the oil and gas industry over the last 38 years. After graduating with a PhD in Geology from University College, London, he worked for the government of Saskatchewan in Canada, the Murphy Eastern Oil Company and Ranger Oil before joining Goal Petroleum in 1981 where he worked for 15 years. From 1989-1996, Dr. Stabbins was Goal’s Exploration Director.
Following Goal’s acquisition by Talisman in 1996, Dr. Stabbins set up his own oil & gas consultancy, Panther Energy Ltd. In 1997, he acquired a majority stake in another consultancy Montrose Industries Ltd which in turn took over Panther in 2005. Panther and Montrose’s clients over the past ten years include AmSOL, Eclipse Energy, LEPCO and Fusion Oil & Gas.
Commenting today, Harry Wilson, Chief Executive of Sterling Energy Plc, commented:
“I am delighted that Dick Stabbins is joining Sterling. I know Dick well from his days with Ranger and I am confident that he will be an excellent addition to the Board where we shall be making full use of his geological knowledge and experience.”
Enquiries:
Sterling Energy (01582 462 121)
Harry Wilson
Graeme Thomson
Citigate Dewe Rogerson (020 7638 9571)
Media enquiries: Martin Jackson / George Cazenove
Analyst enquiries: Nina Soon
Save for the declarations below there are no updated disclosures to be made in respect of the appointment of Dr Stabbins under rule 17 and under Schedule 2 paragraph (g) of the AIM rules.
Current Directorships
