Sign up Australia
Proactive Investors - Run By Investors For Investors

Solo Oil names Alastair Ferguson as chairman designate

Solo is currently advancing the Ntorya project in Tanzania and it is a stakeholder in the popular Horse Hill oil discovery which neighbours London's Gatwick airport
oil and gas operations
Early results from new production test boosted the Horse Hill explorers

Solo Oil PLC (LON:SOLO) has named Alastair Ferguson as the successor to Neil Ritson, who is due to retire from his position as chairman.

Ferguson immediately joins as non-executive director before taking the reins from Ritson, who leaves his position on 6 August and will become a technical advisor to the company.

READ: Horse Hill oil stocks advance on initial production test

"As the company enters a critical phase in considering the commercialisation of its core assets in the Ruvuma Basin, the Horse Hill discovery and its exciting helium asset, I am delighted to be invited by the Solo board to become a non-executive director and chairman-designate,” Ferguson said in a statement.

“As the strategic focus of the board turns to how to provide a return to Shareholders through the monetisation of its assets and the eventual reinvestment of at least part of the proceeds, I look forward to bringing my own expertise to the Board to deliver this outcome."

Ritson, meanwhile, added: "I am very pleased to welcome Alastair to the board of Solo.  Alastair's years of commercial and business experience, developing international gas projects in the Middle East, Asia Pacific and Russia, will strengthen the board and potentially expand the company's geographic reach. 

“I look forward to continuing to assist the company in a technical capacity after my retirement from the board."  

View full SOLO profile View Profile

Solo Oil PLC Timeline

Related Articles

North Sea oil rig
September 10 2018
The City broker said its risked valuation for United Oil & Gas is now 18.7p per share on a fully diluted basis, having already upped it to 17.1p per share, from 15.7p last month
gas
April 16 2018
"Our annual independent updated reserves report reinforces the potential of our quality and well positioned asset base in China,” said chairman Randeep Grewal
Gas valves
April 20 2018
The oil and gas producer said it believes the additional work will allow access to twice as many “pay zones” as well as shortening the time-frame to commercial gas production

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use