Zeta Petroleum plc (ASX:ZTA)’s CEO Andy Morrison Resigns

AUSTRALIA – Australian Stock Exchange-listed oil and gas company Zeta Petroleum plc (ASX:ZTA) has announced the resignation of its Chief Executive, Andy Morrison.

In a disclosure to the Australian Stock Exchange, Zeta Petroleum plc (ASX:ZTA) said Andy Morrison has stepped down as Chief Executive of the Company with effect from 12 October 2015 to pursue other business interests.

Morrison has agreed to continue as an unpaid adviser to the Board in the short term.

Commenting on this update, Stephen West, Non-executive Chairman of Zeta said:

“I would like to thank Andy for the contribution he has made to the Company since joining us as CEO in May 2014, and wish him all the best with his other business endeavors. In the short term, our very experienced Board will provide cover for this executive function.”.

Zeta Petroleum plc is a United Kingdom-based independent oil and gas exploration and development company.

The Company focuses on Eastern Europe. It holds licenses to projects in Romania through its owned subsidiary companies, Zeta Petroleum (Romania) SRL and Zeta Petroleum (Suceava) SRL.

The Company’s portfolio of oil and gas assets include The Bobocu Gas Field, which is located to the north of the Buzau valley, approximately 20 kilometers northeast of Buzau; The Jimbolia license, which is located in the eastern part of the Pannonian Basin, approximately 40 kilometers west of Timisoara on the Romanian-Serbian border and covers an area of approximately 23.9 square kilometers, and The Suceava concession, which is located on the Moldovian platform, approximately 370 kilometers north of Bucharest and covers an area of 2,403 square kilometers. – BusinessNewsAsia.com