TORONTO, Canada, May 11, 2015 – PetroMaroc Corporation plc (TSXV: PMA) (the “Company” or “PetroMaroc”) today announces the resignation of Thomas Feuchtwanger as President, CEO and from the board of directors (the “Board”) of the Company, effective immediately, due to personal reasons, and appointment of Interim CEO.
Dennis A. Sharp, Chairman of the Board, commented “PetroMaroc’s Board sincerely thanks Mr. Feuchtwanger for all of his efforts and continuing support of the Company, and wishes him well in his future endeavours. Following careful consideration, the Company has appointed D. Campbell Deacon as Interim CEO. D. Campbell Deacon has a deep understanding of the Company, its Sidi Moktar operated acreage, having served the Company as a Non-Executive Director between September 2010 – May 2015, and has assisted the Company in securing significant capital to advance its operations”.
PetroMaroc is an independent oil and gas company focused on its significant land position in Morocco. The Company has a 50 percent operated interest in the Sidi Moktar licence area covering 2,683 square kilometres and is working closely with Morocco’s National Office of Hydrocarbons and Mines (ONHYM) as a committed long-term partner to unlock the hydrocarbon potential of the region. Morocco offers a politically stable environment to work within and has favourable fiscal terms to energy producers. PetroMaroc is a public company listed on the TSX Venture Exchange under the symbol “PMA”.
Additional information about the Company can be found at www.petromaroc.co and under the Company’s SEDAR profile at www.sedar.com
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 and Secretary
Tel: +44 (0) 20 3137 7756