Solo Oil appoints experienced petroleum economist as non-executive director

Natural resource investment company Solo Oil on Wednesday announced the appointment of Jon Fitzpatrick as a non-executive director of the company.

Fitzpatrick is a corporate lawyer and petroleum economist who has over 20 years of experience in the investment banking and energy sectors and opened an energy and resource advisory practice, Gneiss Energy, in 2016.

Prior to this, Fitzpatrick was senior managing director and head of natural resources for Europe, Middle East and Africa at Macquarie Capital and is currently a senior adviser to the board of Rockrose Energy.

Neil Ritson, Solo's Executive Chairman, commented: "Jon brings new perspectives and an additional set of competencies to the Solo board, with his extensive capital markets and deal structuring expertise, which complements the existing team. We are delighted to have Jon join the board and look forward to his active support and guidance in the future."

As previously announced, Fergus Jenkins has now resigned from his role as a non-executive director, leaving with immediate effect as Fitzpatrick joins in his place.

Jon Fitzpatrick said: "With the major gas discovery in the Ruvuma Basin reaching sanction, testing due to start at Horse Hill and the ongoing development of a unique position in natural helium exploration; Solo has developed an exceptional portfolio and I hope to play an active part in monetising those assets, whilst helping to grow and expand the portfolio for the future."

As of 0913 BST, Solo Oil’s shares were down 4.62% at 3.10p.