TORONTO, Canada, January 23, 2018. PetroMaroc Corporation plc (TSXV: PMA) (the “Company” or “PetroMaroc”) announces that D. Campbell Deacon has resigned from the Company’s Board of Directors for personal reasons. Dennis Sharp, Chairman of PetroMaroc, stated “Mr. Deacon will remain in his role as CEO to ensure the completion of agreements with various stakeholders including Debentureholders and will continue to work closely and cooperatively with the management of Sound Energy plc.” Mr. Sharp went on to say that he is very pleased Mr. Michael Hobart, who has been advising the Company for many years, has agreed to join the PetroMaroc Board in Mr. Deacon’s place. Mr. Deacon commented, “I am as committed as ever to finding a long term positive solution to the challenges the Company has faced over the past five years. I am confident the Company’s ownership of shares in Sound Energy will continue to provide an excellent foundation until the further development of the Kechoula prospect and other identified targets provide clearer definition as to the size and extent of the potential natural gas resources within the Sidi Moktar permit in Morocco”.
PetroMaroc Corporation plc is an independent oil and gas exploration company. PetroMaroc holds a substantial share position in Sound Energy plc, and net profit interests in the Sidi Moktar licence (onshore Morocco), as a committed long-term partner to unlock the hydrocarbon potential of the Essaouira region. PetroMaroc is a public company and its common shares are listed on the TSX Venture Exchange under the symbol PMA.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
PetroMaroc Corporation plc
Chief Financial Officer
+44 (0) 7722 491084