20 September 2016
Andalas Energy and Power Plc
('Andalas' or the 'Company')
Appointment of Non-Executive Director
Andalas Energy and Power Plc, the AIM listed Indonesian focused upstream oil
and gas and power company (AIM: ADL), is pleased to announce the appointment of
Dr Robert Arnott as Non-Executive Director with immediate effect. Dr Arnott is
a pre-eminent figure in the international oil and gas industry and the Board is
confident that he will be highly instrumental as the Company advances its
strategy to become a leading Indonesian focused energy company.
Dr Arnott has over 30 years' experience in the oil and gas industry, during
which he has successfully executed a number of high profile transactions and
sourced funding for several major development projects. Starting his career
with Shell International, Dr Arnott subsequently moved into investment banking,
working at both Morgan Stanley Dean Witter and Goldman Sachs International,
where he established an extensive network of investment contacts. Moving back
into the upstream industry he has distinguished himself as an active board
member with high level involvement in the growth and success of numerous public
and private energy related ventures.
As a Board member of Spring Energy AS, Dr Arnott rapidly grew the Norwegian
Continental Shelf focused upstream oil and gas company ahead of its eventual
sale to Tullow Oil in January 2013. He was since a director of Core Energy AS,
an oil and gas company focused on the producing fields of the Norwegian
Continental Shelf. During his career he has also held the role of Chairman at
each of Petroceltic International plc, Global Petroleum Limited and Oyster
Petroleum Limited and a non-executive directorship at Rocksource ASA. Dr
Arnott is currently non-executive chairman of Hurricane Energy plc (AIM:HUR),
the UK based oil and gas company.
Andalas Non-Executive Chairman, Paul Warwick, said: "Rob brings with him an
unrivalled combination of industry knowledge and commercial expertise in the
oil and gas industry and throughout his career he has demonstrated his ability
to execute attractive value accretive transactions. I believe his appointment
to the Board and support of our strategy is a clear signal to the market that
Andalas is an emerging energy company with significant potential to make a
material contribution to Indonesia's energy industry, where new power sources
are critically needed to keep up with current demand let alone future growth.
His appointment follows our recent partnership agreement with Indonesia's state
oil company, PT Pertamina (Persero), and adds further gravitas to our already
highly experienced and qualified board, as we look to commercialise our
gas-to-power business concept and capitalise on the highly compelling
opportunites inherent in the Indonesian energy market for the benefit of both
the country and our shareholders."
Commenting on his appointment, Rob Arnott said: "The gas and power supply/
demand fundamentals in Indonesia are clearly evident - with a serious power
crisis affecting many regions, and the economic development of the entire
country, there is certainly an important opportunity for a company with the
relevant technological expertise and in-depth knowledge of the country such as
Andalas. I am joining a Board which already boasts significant industry and
in-country experience, and I am excited at the prospect of using my expertise
and contact base to further Andalas' ambitions to realise the Board's vision of
delievering on its gas-to-power concept. Within the current remit of our
partnership with Pertamina, which provides Andalas with unique access and depth
of opportunity to small gas fields in our target areas, I believe we are in an
excellent position to rapidly commercialise assets and generate real returns
for our shareholders."
The following information regarding Dr. Robert John Arnott, aged 58, is
disclosed under Schedule 2(g) of the AIM Rules for Companies:
Current directorships and/or Former directorships and/or
partnerships partnerships (within the last five
years)
Hurricane Energy plc Rocksource ASA
Independent Oil Tools PLC Oyster Petroleum Ltd
Independent Oil Tools AS Global Petroleum Limited
Brimham Resources Limited OPHL Investment Limited
Petroceltic International plc
Tullow Oil (International) Norge
Limited
Spring Energy AS
Impax Environmental Markets plc
Core Energy AS
**ENDS**
For further information, please contact:
David Whitby Andalas Energy and Power Plc Tel: +62 21 2783 2316
Sarah Wharry Cantor Fitzgerald Europe Tel: +44 20 7894 7000
Craig Francis (Nominated Adviser and Joint
Broker)
Lucy Williams Peterhouse Corporate Finance Tel: +44 20 7469 0930
Charles Goodfellow Limited (Joint Broker)
Colin Rowbury Cornhill Capital (Joint Tel: +44 20 7710 9610
Broker)
Frank Buhagiar St Brides Partners Limited Tel: +44 20 7236 1177
Susie Geliher
Market Abuse Regulations (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.