Sterling Energy PLC – SEY – Directorate Change

Sterling Energy PLC – SEY – Directorate Change

Sterling Energy plc ('Sterling' or the 'Company') an upstream oil and gas company listed on the AIM market of the London Stock Exchange (Ticker Symbol: SEY) is pleased to announce the appointment of Mr Tony Hawkins as its Chief Executive Officer. 

Mr Hawkins will succeed Mr David Marshall who has, by mutual consent, stepped down as Chief Executive Officer and as a Director of the Company with immediate effect.

Mr Hawkins will be appointed to the Board of Directors with immediate effect and will take up his executive position as Chief Executive Officer on 1 January 2021. Mr Marshall will remain available until the end of 2020 in order to affect an orderly handover. In the interim period, Mr Michael Kroupeev (the Company's Non-Executive Chairman) will temporarily move to Executive Chairman.

Background

Tony is an experience oil & gas executive, with over 20 years' experience as a CEO, senior commercial advisor and legal counsel. He has worked extensively in oil & gas but also across the broader energy sector, including power, infrastructure and renewables. He is an English and Australian qualified lawyer, who has worked in both private practice and in-house roles.

Until August 2020, Tony was the Chief Executive Officer of Columbus Energy Resources plc ("Columbus"), an AIM listed oil & gas company with operations in Trinidad and Suriname. Columbus was successfully sold to Bahamas Petroleum Company plc in August 2020. 

Tony is currently a Non-Executive Director of Lekoil Limited, an AIM listed company with operations in Nigeria.

Prior Columbus, Tony was General Counsel & Head of Commercial for Sterling from January 2013 to July 2017. Prior to Sterling, Tony spent six years at Centrica plc (a FTSE 100 listed utility), where he had several roles, including interim General Counsel for Centrica Energy. Prior to that, he worked for ten years in private practice in Australia and the UK.

Tony is a member of the Association of International Petroleum Negotiators and was previously a member of the legal committee of OGUK where he was instrumental in helping to develop the standard DES LNG Master Sale Agreement for the European Federation of Energy Traders.

Sterling Energy Plc's Chairman, Michael Kroupeev, said:

"I'd like to thank David for all his work and effort since his appointment in June 2018. It is well known that oil and gas markets have had a turbulent time in the last few years and David has steered the Company safely through those periods. We wish David every success in his future endeavours."

"We are delighted to welcome Tony back to Sterling as our CEO, he will make a great addition to the team. His specialist experience and expertise in E&P, power, LNG and the renewables sectors will be invaluable to the Company. I look forward to working with him to continue our strategy and to evolve it as need be for the current markets."

Tony Hawkins, said:

"I am very pleased to return to Sterling and I am very much looking forward to working again with the Board and the team to implement the Company's strategy. Sterling retains a strong position in the sector due to its cash position and I am confident we will find the right strategy to take advantage of the current market conditions in oil & gas and the energy markets in general."

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