LONDON, UK: Oneiro Energy PLC (LSE:ONE), the Company listed on the LSE and focused on energy transition, has announced today that it has appointed Andrew (“Andy”) Yeo as its Non-Executive Chairman. Robert Jones will stay on the Board as a Non-Executive Director.

Mr Yeo is an expert in the oil and gas sector and is currently the Chief Executive Officer of Baron Oil PLC, which is quoted on AIM. He has also worked in various private equity roles and has experience in both operations and finance in exploration and production activities, having been the CFO of Wessex Exploration PLC.

He has 20 years of experience in corporate advisory services across different disciplines, having worked for UBS and ABN AMRO Hoare Govett before becoming a founding member of Evolution Securities, where he was an Executive Director and a board member. He has a BA (Hons) in Economics from the University of Essex.

Mr Yeo will get 1,500,000 warrants to buy the Company’s ordinary shares of 0.85 pence each (“Ordinary Shares”), which can be exercised at a price of 10 pence per Ordinary Share. These warrants will be issued only after a reverse takeover (“RTO”) is successfully completed in line with the Company’s strategy and will last for 3 years from the time the Ordinary Shares are admitted to trading after the RTO. More details about these warrants will be given at the right time.

Rob Jones, Non-Executive Director of Oneiro Energy, said: “We are very happy to have Andy on the board of Oneiro. He has increased the value for shareholders at Baron Oil in the past few years by advancing the Chuditch discovery towards a future appraisal well. We are eager to work with him as we look at several very promising opportunities.”

Andy Yeo, Non-Executive Chairman of Oneiro Energy, said: “Joining Oneiro Energy at the start of their journey in the public markets is a great chance for me. They have a very skilled technical team and shareholders who support them and this should put them in a good position for a deal.”