02.11.07
Directorate Change and Corporate Update
PetroLatina Energy Plc ("PetroLatina" or the "Company")
Directorate Change and Corporate Update
PetroLatina, the oil and gas exploration and production company focused on Columbia, announces that Juan Carlos Rodriguez (46), currently President of the Company’s Columbian subsidiary Petroleos del Norte (“PDN”), will become Interim Chief Executive Officer with immediate effect. He will be joined on the Board by James Joseph May (58) who has agreed to join the Company as a Non-Executive Director.
Juan Carlos has been President of PDN for several years and is an experienced oil and gas operator supported by an operational team of more than 40 people. He is also highly respected within the business community in Columbia.
James May’s appointment will give the Company a full-time UK resident Board member.
Rudolph Berends has resigned today as a Director of the Company effective immediately. Rudolph has also stepped down from his position as President and Chief Executive Officer with immediate effect. At the same time, James Guiang has resigned as a Non-executive Director.
The Board thanks Rudolph and James for their contributions to the Company and wishes them well in their future endeavours.
Corporate Update
Following Rudolph’s action to reduce costs and close the London corporate office, the Company’s focus has been on its cash generating assets in Columbia and, in particular, negotiations to agree the amount and structure of the second tranche of the PDN acquisition consideration, due upon extension of the Tisquirama licence.
The Board believes that this issue, and the ongoing development of the asset, is best achieved through its Columbian-based operational team. In addition, because of Juan Carlos’s experience of working in the region, the Board believes that he will be ideally placed to conclude negotiations to extend the Tisquirama licence and to strengthen PetroLatina’s relationships with the country’s authorities and the Company’s Columbian partners.
PetroLatina now expects to make quick progress with these negotiations and anticipates making further announcements regarding the extension of the Tisquirama licence; its planned drilling programme; and an updated production profile before the end of this month. The Company is also in detailed discussions to secure the financing required for the planned drilling and development. This facility will enable the Company to enter the second phase of the development programme in Columbia and increase cash flow dramatically. Further announcements regarding the financing will be made in due course...
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06.05.08 Holding in Company
PetroLatina Energy Plc
(“PetroLatina” or the “Company”)
Holding in Company
PetroLatina received notification on 2 May 2008 from Credit Suisse Securities (Europe) Limited that, following the disposal of ordinary shares in...
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28.04.08 Result of EGM
PetroLatina Energy Plc (“PetroLatina” or the “Company”)
Result of Extraordinary General Meeting and Notification of Total Voting Rights
The Board of PetroLatina, an independent oil and gas exploration, development and...
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25.04.08 Financing Update
PetroLatina Energy Plc ("PetroLatina" or the "Company")
Financing Update
Proposed $25 million investment
PetroLatina, the oil and gas exploration and production company focused on Colombia, with interests in Guatemala,...
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04.04.08 Notice of Extraordinary General Meeting
Notice of Extraordinary General Meeting
PetroLatina, an independent oil and gas exploration, development and production company focused on Latin America, is pleased to announce that further to the announcement made on 27 March...
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14.03.08 Appointment of New Adviser
PetroLatina Energy Plc
Appointment of New Adviser
Petrolatina Energy Plc ("PetroLatina" or the "Company"), an independent oil and gas exploration, development and production company, focused on Latin America, is pleased to...
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29.11.07 Confirmation of Licence Extension
PetroLatina Energy Plc ("PetroLatina" or the "Company")
Confirmation of Licence Extension
Extension of key Tisquirama licence for economic life of the fields has been fully ratified
PetroLatina, the oil and gas...
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02.11.07 Directorate Change and Corporate Update
PetroLatina Energy Plc ("PetroLatina" or the "Company")
Directorate Change and Corporate Update
PetroLatina, the oil and gas exploration and production company focused on Columbia, announces that Juan Carlos Rodriguez (46),...
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08.10.07 Directorate Change
PetroLatina Energy Plc ("PetroLatina" or " the Company")
Board Change
PetroLatina Energy Plc (AIM: PELE), an independent oil and gas exploration,
development and production company focused on Latin America, announces...
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26.09.07 Interim Results
Unaudited Interim Results For The Six Months Ended 30 June 2007
PetroLatina Plc , the Latin America focused petroleum exploration and production
Company (LSE-AIM: "PELE"), announces unaudited interim results for the...
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28.08.07 AIM Rule 26
Company Website
PetroLatina Energy plc (AIM:PELE.L) is pleased to announce that the information
required by AIM Rule 26 is available on the PetroLatina Energy website at
www.petrolatinaenergy.com...
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