CALGARY, July 10, 2014 /CNW/ - PetroMaroc Corporation plc (formerly
Longreach Oil and Gas Limited) is pleased to announce that its Board of
Directors has appointed Thomas Feuchtwanger as the new President &
Chief Executive Officer and a Director of the Company. Feuchtwanger was
selected following the completion of an international search for a new
Chief Executive Officer over the past few months.
"Thomas is a highly accomplished and experienced leader who has built a
successful career exploring for and producing oil and natural gas in
Canada and a variety of international locations. With more than three
decades of experience building value from complex and challenging
geological structures, Thomas is ideally suited to lead PetroMaroc as
it strives to become the leading hydrocarbon producer in Morocco," said
Dennis Sharp, who remains PetroMaroc's Chairman.
A seasoned geologist and petroleum management professional, Thomas
graduated with a Bachelor of Science (Hons) from the University of the
Witwatersrand in Johannesburg, South Africa in 1973. He began his
career as a mineral exploration geologist working in Southern Africa.
In 1979 Thomas immigrated to Canada where he worked for 12 years at
Gulf Canada exploring for and developing hydrocarbon pools in Canada.
At Gulf Canada, he earned positions of increasing responsibility
including exploration manager for Western Canada, and business unit
manager for non-operated enhanced oil recovery production. In 1992,
Thomas was appointed vice president exploration at CS Resources, a
Western Canadian junior oil and natural gas company, where he was part
of a team that grew production to 18,000 barrels of oil per day and the
market capitalization to C$550 million. CS Resources pioneered many
technical breakthroughs and reservoir development innovations that
helped turn Canada's thermal oil sands production from an experimental
industry into a globally competitive oil supplier. After CS Resources
was acquired, Thomas worked in senior executive positions in a number
of Canadian companies including as President, CEO and a Director of
Largo Petroleum which was exploring in Tunisia. Thomas joined
PetroMaroc (formerly Longreach Oil and Gas) in January 2013 as Vice
President GeoSciences, and was named Vice President Exploration in
PetroMaroc was formerly named Longreach Oil and Gas Limited. The Company
will notify shareholders when the transition from the Longreach trading
symbol "LOI" to the PetroMaroc trading symbol "PMA", which remains
subject to the approval of the TSX Venture Exchange, comes into effect.
PetroMaroc is an independent oil and gas company focused on its
significant land position in Morocco. The Company has a 50 percent
operated interest in the Sidi Moktar licence area covering 2,683 square
kilometres and is working closely with ONHYM as a committed long-term
partner to unlock the hydrocarbon potential of the region. Morocco
offers a politically stable environment to work within and has
favourable fiscal terms to energy producers.
Additional information about the Company can be found at www.petromaroc.co/ www.longreachoilandgas.com and under the Company's SEDAR profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any securities of Longreach in any jurisdiction in
which such offer, solicitation or sale would be unlawful. The
securities referred to herein have not been and will not be registered
under the United States Securities Act of 1933 (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons (as defined in the U.S.
Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws, or an exemption from such
registration is available.
SOURCE: PetroMaroc Corporation plc
For further information:
Chief Financial Officer and Secretary
Tel: +44 203 137 7756