Faroe Petroleum says that Tim Read has been appointed to the Board as a Non Executive Director effective immediately.

Tim Read (62) has over forty years experience in the natural resource sector, first as an investment analyst then as an investment banker and, more recently, as a corporate executive and director. He has extensive experience of all aspects of corporate finance, particularly M&A and equity capital markets.

Between 1999 and 2006, he was the Chief Executive of Adastra Minerals Inc, and since then has acted as a Non Executive Director for several natural resource companies, including; Cumerio SA (acquired by Nordeutsche Affinerie in April 2008) and Nevoro Inc. Tim is currently Executive Chairman of Kopane Diamond Developments Plc.

Mr Read has a BA (Economics) from the University of Strathclyde in Glasgow, Scotland and is a Fellow of the Securities and Investment Institute.

Graham Stewart, chief executive of Faroe Petroleum said,“We are very pleased to welcome Tim to the Board; his substantial experience in corporate finance and capital markets coupled with his focus on the natural resources sector means he is very well placed to serve the Company at this time.

“Through Tim’s guidance, experience and contacts, Faroe is now even better placed to continue its fully funded work programme and to capitalise on the opportunities that the current uncertain economic climate presents to a well funded and growth focused business.”

Tags: Faroe Petroleum