Tower Resources plc
Asset Manager Appointment
28 October 2014
Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM-listed Africa-focussed oil and gas exploration company, is pleased to announce that Eric Griffith has joined the Company as Asset Manager.
Eric, 49, joins from the Exploration and Production Division of Centrica, where he was Business Manager for International Assets. He has over 23 years' experience in the oil and gas sector spanning technical, commercial and business development roles at Centrica, Burlington Resources and ConocoPhilips and brings an expertise in project development gained in North Africa.
Eric holds a BSc degree in Petroleum Geology from the University of Aberdeen and an MSc degree in Petroleum Geology from Imperial College, London.
The Company has also issued 10 million share options to Eric at an exercise price of 0.75p per share. The share options will vest in three equal tranches of 12, 24 and 36 months, respectively, after issue and will all expire if not previously exercised on the fifth anniversary of their issue.
Nigel Quinton, Head of Exploration, commented: "Eric's appointment as Asset Manager is an important milestone for Tower, signalling the widening of our capability to match the expansion in our Asset Portfolio. We have an exciting time ahead with activity across Africa, and Eric's skill-set is a very important addition to our team."
Contacts
Tower Resources
Graeme Thomson (CEO)
Nigel Quinton (Head of Exploration)
Andrew Matharu (VP - Corporate Affairs)
+44 20 7253 6639
Peel Hunt LLP (Nominated Adviser and Joint Broker)
Richard Crichton/Charles Batten
+44 20 7418 8900
GMP Securities Europe LLP (Joint Broker)
Rob Collins/Liz Williamson
+44 20 7647 2800
Vigo Communications
Chris McMahon/ Peter Reilly
+44 20 7016 9572
