Seplat Energy PLC

Management Reports • May 27, 2014

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RNS Number : 1582I

SEPLAT Petroleum Development Co PLC

27 May 2014

SEPLAT Petroleum Development Company Plc

New Appointment to the Board

Lagos and London, 27 May 2014: The Board of SEPLAT Petroleum Development Company Plc ("Seplat" or "the Company"), a leading Nigerian indigenous oil and gas company, listed on both the NSE and LSE, announces the appointment of a new Director of the Company with immediate effect.

Mr Damian Dinshiya Dodo has been appointed as an Independent Non-Executive Director. Further information regarding Mr Dodo is set out below.

Damian D. Dodo

Mr Dodo graduated in 1985 with a law degree from Ahmadu Bello University in Nigeria.  He was admitted to the Nigerian Bar in 1986. In 2001, he became the youngest lawyer in Nigeria to be awarded Nigeria's highest legal practice rank of Senior Advocate of Nigeria (SAN). In 2011 he was awarded the National Honour of Officer of the Order of the Federal Republic of Nigeria by the President of Nigeria. Mr Dodo has also recently been awarded fellowship by the Nigerian Institute for Advanced Legal Studies.

Mr Dodo has acted for a wide range of major Nigerian corporations, governmental and regulatory bodies across a number of business sectors and has served on a number of panels and commissions in Nigeria. He currently chairs the National Lottery Regulatory Commission in Nigeria and has previously chaired the Nigerian National Petroleum Corporation Commission of Inquiry, Chairman of the Membership Committee of the Nigerian Bar Association and the Governing Board of the National Agency for the Prohibition of Traffic in Persons. He is also an associate of the Chartered Institute of Arbitrators in London. 

Notes to editors:

SEPLAT Petroleum Development Company ("SEPLAT" or "the Company") is a leading indigenous oil and gas exploration and development company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT). In July 2010, SEPLAT acquired a 45 per cent participating interest in, and was appointed operator of, a portfolio of three onshore producing oil and gas leases in the Niger Delta (OMLs 4, 38 and 41), which includes the Oben, Ovhor, Sapele, Okporhuru, Amukpe and Orogho fields. Since acquisition, SEPLAT has more than tripled production on the three OMLs to over 59 mbbl/d in March 2014, and the Company is targeting 85 mbbl/d by the end of 2016. DMCL estimates that the Company's working interest proved plus probable reserves ("2P") in OMLs 4, 38 and 41 amount to 101,756 mbbl of oil and condensate and 573.5 bcf of gas as of 31 October 2013. In June 2013, Newton Energy, a wholly-owned subsidiary of the Company, entered into an agreement with Pillar Oil to acquire a 40 per cent participating interest in the Umuseti/Igbuku Fields, adding approximately 9.7 mmbbl to the Group's 2P oil and condensate reserves and 89.8 bcf of gas. SEPLAT is pursuing a Nigeria focused acquisition strategy and is well-positioned to participate in future divestment programmes by the international oil companies operating in the Niger Delta. For further information please refer to the company website, http://seplatpetroleum.com/.

Enquiries:

Seplat Petroleum Development Company plc Roger Brown, CFO                                                                                                                David Boyd, Investor Relations Chioma Nwachuku, GM - Corporate Affairs & Business Development	+44 203 725 6500 +44 203 725 6500 +234 12 770 400
FTI Consulting Ben Brewerton / Sara Powell / George Parker [email protected]	+ 44 203 727 1000

This information is provided by RNS

The company news service from the London Stock Exchange

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