April 1, 2009
PetroNeft Resources plc ("PetroNeft" or the "Company"), the oil exploration and production company with assets in Tomsk Oblast, Western Siberia, announces the retirement of Mr. Desmond Burke, as an Executive Director of the Company with effect from 31 March 2009.
Paul Dowling, Chief Financial Officer, will assume the Investor Relations role previously carried out by Mr. Burke.
Mr. Burke was a founding Director of PetroNeft and established many of the key relationships with advisers and early investors in the Company as well as being closely involved in the Company's IPO and listing on the AIM and IEX markets in 2006.
The Board of PetroNeft would like to note their appreciation of Des' important contribution to the Company since its incorporation in 2005.
Commenting on Mr. Burke's retirement PetroNeft Chairman, David Golder, said:
"I would like to wish Des well in his retirement and thank him for his hard work over the years. Des was a founding Director of PetroNeft and was instrumental in setting up the business and bringing many important early investors to the Company. We look forward to continuing PetroNeft's relationship with Des as a shareholder for many years to come."
For further information, contact::
Dennis Francis, CEO, PetroNeft Resources plc
+1 713 988 2500 Paul Dowling, CFO, PetroNeft Resources plc
+353 1 443 3720 John Frain/Brian Garrahy, Davy - Nomad and Joint Broker
+353 1 679 6363 Jonathan Marren/Matt Goode, KBC Peel Hunt - Joint Broker
+44 207 418 8900 Paddy Blewer/Nick Elwes, College Hill
+44 207 457 2020