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Prospex names new board members

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Prosepex has named former Cheveron petroleum geophysicist James Smith as a non-executive director.

He was previously vice president of exploration for PanOcean Energy and in this capacity was instrumental in building the value of PanOcean from US$20m to its eventual sale to Addax Petroleum for US$1.4 billion in 2006.

Prospex non-executive chairman, Bill Smith, said: “With an excellent technical background, a raft of industry experience and proven success in finding oil and realising value, we are delighted to welcome James to the Board. As work continues to progress on schedule at the Boleslaw prospect, the Company is entering an important time in its development and James’ expertise in the field will be invaluable in supporting our continued progress. His unrivalled experience will support not only the advancement of Boleslaw, but also our active growth strategy as we continue to identify and review additional investment opportunities, which we believe offer near term value upside. We look forward to keeping shareholders updated with these exciting developments.”

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