STOCKHOLM--(BUSINESS WIRE)--The Board of PA Resources (OSE:PAR) has appointed Mark McAllister to the position of President and CEO. Mark McAllister has an extensive experience from various positions in the international oil and gas industry. Mark will take up his new position on 1 October, 2013.
Mark McAllister has over 30 years’ experience in the international oil and gas industry and has held a number of positions as Chief Executive Officer. Over the last 12 years he has founded and developed two UK Independents which have played significant roles in the rationalization of the mature North Sea, and pioneered a new marine heavy-lift technology company. Mark McAllister was the founder of Acorn Oil & Gas and served as Acorn’s Managing Director from its inception in 2001 until launch of Fairfield Energy in 2005 where he was the CEO through to 2011.
Previously Mark McAllister was the Managing Director Europe & North Africa at LASMO plc. and the Director for Operations at Monument Exploration. He has worked for public and private, large and small companies including start-ups, in the North Sea, FSU and North Africa. Mark is a petroleum engineer by discipline and holds an MA in Engineering from Cambridge University.
Mark takes on his new position on 1 October 2013.
“The recruitment process has been one of the Board’s highest priorities these last months. The search criteria for the new candidate has been strong; extensive experience from the international oil and gas sector, proven leadership skills together with experience of developing and funding of oil and gas related companies. I’m delighted that Mark McAllister will be joining PA Resources shortly. He brings with him important experience from the industry and has a strong track record. The Board is confident that Mark McAllister will successfully manage the continued development of PA Resources’ asset portfolio” says PA Resources’ Chairman, Sven A Olsson.
Stockholm, 10 September 2013
PA Resources AB (publ)
PA Resources AB (publ) is an international oil and gas group which conducts exploration, development and production of oil and gas assets. The Group operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United Kingdom, Denmark, Netherlands and Germany. PA Resources is producing oil in West Africa and North Africa. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 2,184 million in 2012. The share is listed on the NASDAQ OMX in Stockholm, Sweden. For additional information, please visit www.paresources.se.
The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 8.30 a.m. CET on 10 September 2013.
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