Desire Petroleum appoints new FD
MIDLAND registered oil and gas exploration firm Desire Petroleum has announced a new financial director.
The company, which is wholly focussed on the North Falkland Basin, said current non-executive director Eddie Wisniewski had been appointed to the role.
Investors reacted well to the announcement with the firm’s share price up almost 5% in early trading.
The Malvern firm’s share price has undergone a rollercoaster ride in recent weeks after it first claimed drilling operations had struck significant hydrocarbon deposits only to disappoint investors days later when it said the finds were not as first hoped.
Its share price fell again yesterday after it announced that its latest drilling operation had again failed to strike oil.
Mr Wisniewski, aged 50, qualified as a Chartered Accountant with Touche Ross & Co, leaving in 1988 to join Clyde Petroleum Plc. From 1995 to 2000 he was the Finance Manager of Clyde Petroleum’s subsidiary in the Netherlands.
He joined Alstec Ltd in 2000, and was appointed Finance Director in 2006, leaving at the end of 2009. He has more than 15 years experience in the oil exploration and production industry, and has been a non-executive director at Desire since 2005, chairing the Audit Committee from that date.
His position as chairman of the Audit Committee will be taken by Stephen Phipps, and he will continue to attend Audit Committee meetings as an invitee.
