TMAN Timan

 

TIDMTMAN 
 
RNS Number : 5935P 
Timan Oil & Gas Plc 
27 March 2009 
 

 
 
Timan Oil & Gas plc ("Timan" or the "Company") 
 
 
Directorate Change 
 
 
Timan Oil and Gas ("Timan" or the "Company"), an independent oil and gas 
exploration and production company with its main assets in the Timan-Pechora 
region of Western Russia and the Caspian basin, today announces that Zhakyp 
Marabayev stepped down as Chairman of the Company on 25 March 2008 with 
immediate effect due to his recent appointment to a high governmental position 
in Kazakhstan and as a result he cannot put sufficient time into Timan. The 
Board would like to thank Zhakyp for his  contribution to the Company to date 
and wishes him well in the future. 
 
 
At the same time the Company is pleased to announce with immediate effect the 
appointment of Dr. Boris Litvak as Non-Executive Chairman. Boris Litvak has been 
involved with the Company for one and a half years providing advisory services 
and was appointed to the Board as a Non-Executive Director in December 2008. 
Boris has over 30 years of experience in the oil and gas industry and has been 
involved in many oil and gas projects around the world including in the Timan 
Pechora region. Dr Litvak holds a PhD and honours degree from the Moscow Oil & 
Gas Institute. 
 
 
Zhakyp Marabayev commented: 
 
 
"Regretfully I have to leave the Company to pursue new avenues. I firmly believe 
that Timan has huge potential and wish the Board all  success in meeting its 
targets in the near future. The new appointment of Boris Litvak as Chairman, 
should strengthen the operational management focus of the Company given his 
significant experience in bringing major development programs on stream." 
 
 
Commenting on the changes in the Board, Alexander Kapalin, Chief Executive of 
Timan Oil & Gas, said: 
 
 
"We would like to thank Zhakyp Marabayev for his professional contribution to 
the Company to date and wish him success at his new high post. 
 
 
At the same time we are very pleased to welcome Boris Litvak as Chairman. Boris 
Litvak's extensive experience in the oil and gas industry will be important in 
taking the Company from pilot scheme to the next stage of development. 
 
 
Enquiries: 
 
 
Timan Oil & Gas Plc 
Alexander Kapalin, Chief Executive Officer 
+7 499 241 63 43 
+7 499 241 44 22 
 
 
Strand Partners Limited 
Rory Murphy 
+44 (0) 20 7409 3494 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 BOAZGGZFRNVGLZG 
 

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