Wessex Exploration said Andy Yeo, a non-executive director of the AIM-listed oil and gas group, has taken on the responsibilities of Chief Financial Officer with immediate effect.
Yeo is also the Chief Executive Officer of Bluebird Energy, a hydrocarbon exploration firm.
Malcolm Butler, the company's recently appointed non-executive Chairman, said: "I am pleased to confirm that Andy will now act in an executive capacity as Chief Financial Officer. Andy was instrumental in the AIM flotation of Wessex and the subsequent fund raising."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Both Butler and Yeo have been granted new options under the company's share option plan to buy up to 5m shares at 7p each; seeing as French integrated oil company Total was prepared to offer 10p a share for Wessex earlier this year the option awards look on the generous side.
Wessex shares have performed strongly over the past year, more than doubling their value to 6.75p. The company moved from the PLUS market to AIM on March 18th, 2011.
NR
-
‘I installed a heat pump in my home – here are five things I’ve learnt’From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
'Nationalisation is not the answer'Opinion Labour's enthusiasm for nationalising steel was met with approval across the spectrum. Political consensus is a sign that thinking has been abandoned, says Max King
