30 Aug 2016 07:00
30 August 2016
Jupiter Energy Limited ("Jupiter" or the "Company")
APPOINTMENT OF DIRECTOR
Jupiter Energy Limited (ASX: "JPR", AIM: "JPRL" and KASE: "AU_JPRL") announces the appointment of Alexey Kruzhkov as a Non-Executive Director of the Company. Alexey will be the appointed Board representative of Waterford Finance and Investment Limited, the Company's largest shareholder.
Alexey replaces Alastair Beardsall who retired on 31 May 2016.
Alexey will also join the boards of all Jupiter subsidiaries.
Executive Chairman Geoff Gander said, "I am delighted to welcome Alexey to the Board and look forward to working with him."
A short biography of Alexey and information required to be disclosed pursuant to the AIM Rules for Companies is included at the end of this announcement.
ENDS
Enquiries:
Jupiter Energy (+61 89 322 8222)
Geoff Gander (geoff@jupiterenergy.com)
finnCap Ltd (+44 (0)20 7220 0500)
Matt Goode/Emily Watts/Christopher Raggett (Corporate Finance)
Simon Johnson (Corporate Broking)
About Alexey Kruzhkov:
Alexey holds an Engineering Degree and an MBA and has over 10 years' experience working in the investment industry, focusing primarily on organisations involved in Oil & Gas, Mining and Real Estate. He has served as a Director on the Boards of companies listed in Canada and Norway. He is a member of the executive team of Waterford Investment and Finance Limited. He holds British and Russian citizenships.
The directorships/partnerships held by Mr Alexey Kruzhkov (also known as Alexei Kroujkov), aged 49, are:
Current Directorships / Partnerships: | Directorships and Partnerships held in the previous 5 years: |
Waterford Finance & Investment (UK) Ltd Waterford Finance and Investment UK Ltd Nefto Invest Ltd Start Capital Research Ltd | Soyuzneftegaz Limited Oxoil Limited |
There is no further information to be disclosed under AIM Rule 17 and Schedule Two (g) (i)-(viii) of the AIM Rules for Companies.
About the Company:
Jupiter Energy Limited is an oil exploration and production company, quoted on the AIM, ASX and KASE markets. The Company is focused on developing its onshore assets in western Kazakhstan. In 2008 the Company acquired 100 per cent of the Block 31 permit, located in the oil-rich Mangistau Basin, close to the port city of Aktau.
Jupiter has a proven in-country management team, led by an experienced, international Board, together possessing the skills, knowledge, network and attention to detail needed to operate successfully in Kazakhstan. The forward plan will see Jupiter develop a group production facility on Block 31 to process, store and export oil. This topside infrastructure is a key element in moving to long-term production and the achievement of self-funding for further development of Block 31.