Roxi Petroleum (RXP) Announce Options for Directors

It was announced today, that Roxi Petroleum plc (AIM:RXP) have awarded options to two directors: the CEO, David Wilkes, and the new non-executive, Edmund Pery.

The options have been issued at 12p per share, a premium to today's share price.

David Wilkes receives 2,000,000 shares and Edmund Pery receives 200,000 shares.

It was also announced that David Wilkes seems to have previously been granted options over 354,918 shares at 12p, a further 1,162,555 at 38p and 1,462,618 at 65p.  Maybe the 38p and 65p options were transferred from part of former CEO, Rob Schoonbrood's holding.

It is encouraging to see options being awarded at a premium to the prevailing share price, and comes on top of David Wilke's recent outright purchase of 262,000 shares.

Perhaps strangely, no options for Hyunsik Jang, the new COO.

Roxi Petroleum (RXP) Names New CEO as David Wilkes

Roxi Petroleum (AIM:RXP) today announced the appointment of David Wilkes as CEO.

Of course David Wilkes joined the board on 1 October as Finance Director, so this move looks like a planned succession as the existing CEO, Rob Schoonbrood, retires at the age of 65.

Rob has worked extremely hard through the credit crunch to lay the financial foundations that will enable Roxi to drill the BNG and Ravninnoe contracts areas using finance raised from Canamens and to drill the Galaz block with the deal struck with KazRosMunai LLP.

Let's hope that David can build on these foundations and take the company to the next level. Results from the Ravninnoe Well #20 and Galaz Well NK22 cannot be too far away.

Roxi Petroleum (RXP) Management and Advisors

The board of directors can be found on the Roxi Petroleum website.

Chairman: Clive Carver
CEO: David Wilkes (took over from Rob Schoobrood on 1 January 2010)
Finance Director: David Wilkes
Executive Director: Kuat Oraziman
Technical Director: Duncan McDougall
Operations Director: Hyunsik Jang
Non-Executive: Edmund Pery, Earl of Limerick
Company Secretary: Paul Puxon

The advisors can be found on the Roxi Petroleum website.

NOMAD and broker: Matrix Corporate Capital LLP
Auditors: BDO Stoy Hayward LLP
Competent Person: McDaniel & Associates Consultants Ltd
Financial Public Relations (PR): College Hill Associates Limited (according to a tweet on 1 April, the PR advisors are now Buchanan Communications)