New CEO for Enegi Oil

Enegi Oil, an independent Oil and Gas Company with assets in Newfoundland, Canada, County Clare, Ireland, UK North Sea and Jordan, has named Dr. Nigel Burton as Chief Executive Officer and a Director of the Company with immediate effect.

Enegi on Tuesday said Dr. Burton’s experience includes operational and financial management, debt and equity financing, acquisition and integration of businesses, disposals, IPOs and trade sales.

“This will be highly beneficial as the Company pursues its strategy to build a portfolio of field or royalty interests in global oil and gas projects where it feels it can deliver a significant cost transformation through the application of new technical solutions,” the company said Tuesday.

Following over 14 years as an Investment Banker at City institutions including UBS Warburg and Deutsche Bank, including as the Managing Director responsible for the energy and utilities industries, Burton spent 15 years as CFO of a number of private and public companies, including Navig8 Product Tankers Inc, PetroSaudi Oil Services Limited, Advanced Power AG, and Granby Oil and Gas plc, a UK based E&P company which was admitted to AIM in 2005 and subsequently sold in 2008.

The company said that, following Dr Burton’s appointment as Chief Executive Officer of Enegi, Alan Minty will remain on the Board of Enegi in the role of Executive Chairman.

Dr. Burton said: “This is an exciting time to be joining Enegi as it focuses on developing a portfolio of field and royalty interests in fields which it believes it can effect a significant cost transformation through the application of flexible and cost-effective solutions. Having worked with the team for several months and watched how the MFD Consortium has been created, I believe that Enegi is well positioned to take advantage of the growing number of real opportunities in this field.”

Commenting on the appointment of Dr. Burton to the Board, Enegi’s Chairman, Alan Minty said:

“We are delighted that Nigel has agreed to join the Company as the new Chief Executive Officer of Enegi. Nigel brings extensive experience in the financing of projects in the energy and utilities industries which will be key to the commercial implementation of our strategy.”

“Nigel will replace me in the role of Chief Executive Officer but I will continue to work with the Company in an executive capacity as Chairman, where I will concentrate on strategy and supporting the process of acquiring projects, an initiative I have worked hard to develop for many years. I am pleased to welcome Nigel to our Board and look forward to working with him to further advance the Company.”

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