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Gulfsands Petroleum Appoints Andrew Rose as CFO
05-25-2008
Gulfsands Petroleum plc,
the oil and gas production, exploration and development company with activities
in Syria, Iraq and the USA, announces the appointment of Mr. Andrew Rose as
Chief Financial Officer and Director.
Andrew Benedict Rose, 51, was the former Chief Financial Officer of Burren
Energy (“Burren”), the UK independent oil and gas company which was acquired by
ENI S.p.A. (“ENI”), the Italian oil major, for US$3.6 billion in January 2008.
Mr. Rose, who holds a BSc in Engineering from Cambridge University, joined
Burren Energy as Chief Financial Officer in 2001, when it was a private company.
He was a key Director in developing and building Burren from a small private
company, through to its listing on the London Stock Exchange in December 2003
and into one of the UK’s most successful mid tier independent oil companies,
culminating in its sale to ENI late last year.
Mr. Rose spent the greater part of his early career in investment banking,
working in advisory, capital markets and structured finance roles, and prior to
joining Burren was head of Corporate Finance for Eastern Europe, Middle East and
Africa at Societe Generale.
It is expected that Mr Rose will begin to take up his responsibilities from the
beginning of June 2008 and will join the Company on a full-time basis on 1
August.
Mr. Rose has been granted 1,000,000 options to subscribe for ordinary shares in
the Company as part of his overall compensation package. The options are all
exercisable at 175 pence per share and will vest in three tranches, being
500,000 on the date of his appointment and 250,000 on each of the first and
second anniversaries of his appointment.
Gulfsands’ Chairman, Andrew West, said:
"The appointment of Andrew Rose as CFO and Director marks a milestone in the
continued development of Gulfsands into a leading independent oil and gas
company. Andrew brings to us an exceptional track record as a successful oil and
gas company CFO and has outstanding credentials in the City of London. The Board
is delighted to welcome Andrew and we very much look forward to working with
him”.
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