Following the conclusion of the successful 2014 drilling programme, which culminated in the company's basin opening success in Paraguay and confirmed the presence of hydrocarbons with gross prospective resources of 1 - 4 billion barrels oil equivalent, President announces management changes to reflect the Company's transition to a more operationally focused business in 2015 and the lower oil price environment.

John Hamilton (CEO) and Dr. Richard Hubbard (COO), both based out of London, have offered to step down from the Board as of today. They will remain senior advisors to the Company and will continue to be valuable resources to the growth of President. As a result, Peter Levine will become Executive Chairman and Chief Executive while Miles Biggins (Commercial Director) will assume the role of Chief Operating Officer, with Ben Wilkinson continuing as Finance Director.

Tags: President Energy