Stratic Names Thomas CFO, Director
Stratic Energy Corp. has named Peter Thomas as Chief Financial Officer and Director with immediate effect. The appointment follows the recent management changes announced at the Company's Annual General Meeting on May 29, 2007.
Thomas, 45, was the Chief Financial Officer of Hardman Resources Limited, an exploration and production company listed on the Australian Stock Exchange and the AIM Market of the London Stock Exchange, until its sale to Tullow Oil plc earlier this year. Peter qualified as a Chartered Accountant with KMPG in 1987 and has more than 20 years experience advising and working in the oil industry. Before joining Hardman he held senior financial positions at Enterprise Oil plc, including Group Financial Controller and Group Treasurer. He has extensive experience of international equity and debt markets and at various times throughout his career at Enterprise was responsible for investor relations and strategic and corporate planning. Thomas holds a BSc degree in Zoology from the University of Bristol.
Commenting on the appointments, Kevin Watts, President and Chief Executive of Stratic said "I am delighted Peter has agreed to join Stratic and join the rest of the Board in welcoming him to the company. His experience and skills will be invaluable as we move into a period of heavy investment on our appraisal and development projects and the company continues to grow. Peter's appointment, together with the recent appointments of Mark Bilsland as Chief Operating Officer and Director, and Andrew Childs and Ennio Sganzerla as Non- executive Directors, will result in a very strong management team and an independent Board of Directors that is well positioned to support the company in its key geographical areas."
As part of the recruitment of Thomas and the promotion of Bilsland to the Board of Directors as Chief Operating Officer, the Board has granted stock options to purchase a combined total of 3,100,000 common shares of Stratic to the two individuals at a price of $1.10 per share, being the volume weighted average trading price of the Company's stock over the previous five business days. These options, which expire 10 years from the date of grant, are subject to regulatory approval. In addition the Board has also granted 30,000 stock options on the same terms and conditions to a recently recruited employee of the company who is not an insider.
Stratic is an oil and gas company focused on production, development and appraisal activity in three key geographical areas: the North Sea, Italy and the Black Sea.
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