TXO TXO

TIDMTXO

RNS Number : 4653J

TXO PLC

17 July 2013

   FOR IMMEDIATE RELEASE                                                     17 JULY 2013 

TXO PLC

("TXO" or the "Company")

BOARD APPOINTMENT

TXO Plc the AIM-listed oil and gas investment company, is pleased to announce the appointment of Spencer Wilson to the Board as Non-Executive Director, with immediate effect.

Spencer, aged 36, is a financier and is currently Chief Executive Officer at Markab Capital Limited ("Markab"), a Middle East focused merchant bank and multi-family office since 2010. He oversees deal origination at Markab, developing financing and M&A opportunities for the firm and its clients. He is also responsible for the firm's strategic direction. Spencer is experienced in complex cross border transactions and tax structures and has completed such transactions across several sectors, including oil & gas. Spencer is a trusted senior advisor to several prominent Gulf Cooperation Council (GCC) families.

Prior to joining Markab, Mr. Wilson worked as a Managing Partner at Churchill Merchant Capital, Inc. from 2000 to 2002 and then a Senior Managing Director at Newhaven Merchant Bankers from 2002 to 2010.

TXO Chairman Tim Baldwin commented:

"I'm delighted to welcome Spencer Wilson to the Board of TXO. In addition to his Middle Eastern client base, Spencer has been successful in bringing international oil and gas businesses to the Gulf, whether looking for funding or to introduce their service or technology to the GCC region. We feel his aspirations and connections are a good strategic fit with TXO and will add a further dimension to TXO's prospects."

Save as disclosed below, there are no further disclosures to be made under Schedule Two, paragraph (g) of the AIM Rules.

Spencer John Wilson: Current Directorships / Partnerships

Amara Dhari Investments Limited

Amara Holdings Inc.

Edwin Lee Holdings Inc.

Eights Triple, SA

Grosvenor Et Cie, S.A.

Markab Capital Limited

Newhaven CBH, Inc

Newhaven GMBH

Newhaven Investments House, Inc

NIH Management

NM Bancorp Limited

Octavian Growth Partners Limited

Phoenician Corporation IV Limited

Polemos Plc

Prosperitas Capital Corp.

Trois Tress III, Inc

Past Directorships held within the last five years

RAK Real Estate Limited

Phoenician Corporation V Limited

(now Makkah & Madinah Holdings)

AMK Investments Ltd

For further information, please contact:

TXO PLC

   Tim Baldwin, Chairman                     +44 (0) 207 518 4300 
   Fox-Davies Capital Limited                +44 (0) 20 3463 5000 

Susan Walker / Richard Hail

Lothbury Financial Services Limited

   Michael Padley / Chris Roberts       +44 (0) 203 440 7620 

Editors' Note

TXO plc, the AIM quoted oil and gas investment company, has two main investments namely: Tasmania Oil and Gas Ltd ("TOG") which is a joint venture company set-up to exploit a gas and oil opportunity in Tasmania, Australia, and The Grand Bahamas Group Limited ("GBG") which is establishing a waste oil collection facility and Hydrocarbon Recovery Plant in the Bahamas at Freeport and also produces oil from its leases in Western Kentucky, USA.

TXO currently holds a 30.17% equity interest in GBG, with the option to increase this by 13.01%, and a 25% equity interest in Tasmania Oil and Gas Limited ("TOG") the joint venture company, which could increase to 31.96% if a convertible loan is exercised.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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