Capital Drilling Ltd CAPD Senior Management Update

  Capital Drilling Ltd (CAPD) - Senior Management Update

RNS Number : 3938R
Capital Drilling Limited
19 November 2012




For Immediate Release Monday 19 November 2012

                                      

                                      

                           Capital Drilling Limited

              ("Capital Drilling", the "Company" or the "Group")

                                      

                           Senior Management Update



Capital Drilling (LSE: CAPD), the emerging and developing markets focused
drilling Company, announces the following Management changes, with immediate
effect.



· Geoff Fardell to step down from his role as CEO

· Jamie Boyton, Executive Chairman, will take the role of Interim CEO



Capital Drilling has spent  the past year  altering its management  structure, 
with some key new hires made to fortify the existing management team including
the appointments of a Chief  Financial Officer, Group Asset Manager,  Business 
Development Manager, Chief Commercial  Officer, Group Human Resources  Manager 
and Supply Chain and  Logistics Manager. As outlined  in the Interim  results 
announced in  August,  this  structure  provides  a  strong  base  for  future 
development and growth as the Company continues to increase the size and range
of its service  offering. However,  in order to  maintain the  growth of  the 
business, which enjoyed record revenues of over $79m in the first half of  the 
financial year,  new  leadership  is  required to  build  on  the  significant 
contribution which Geoff Fardell brought to the Group and to move the  Company 
to the next stage of growth.

Jamie Boyton, Executive Chairman and co-founder of Capital Drilling, will  act 
as interim Chief Executive until a replacement for Mr Fardell has been found.
An independent and international executive  search firm has been appointed  to 
assist in this process.

Commenting on the management changes, Jamie Boyton stated:

"The Board of Capital Drilling would like to thank Geoff for his valuable
contribution to the Group - without doubt the structure of the business has
been considerably strengthened, largely due to his efforts and I would like to
wish him every success in his future endeavors. The Group has now entered
into a new phase of its strategy, and subsequently needs a different skill set
to head up its management team."



For   further   information   please   access   Capital   Drilling's   website 
www.capdrill.com or contact:



Capital                            Drilling                            Limited 

+65 6227 9050

Jamie Boyton, Executive Chairman  



Liberum                                                                Capital 
Limited
+44 (0)20 3100 2000

Clayton Bush

Richard Bootle



Canaccord                                                              Genuity 

+44 (0)20 7523 8000

Andrew                                                                   Chubb 


Rob Collins



Buchanan
+44 (0)20 7466 5000

Bobby Morse 

Gabriella Clinkard



About Capital Drilling

Capital Drilling provides specialised drilling services to mineral exploration
and mining  companies in  emerging and  developing markets,  for  exploration, 
development and  production  stage  projects. The  Group  currently  owns  and 
operates a fleet  of 89 drilling  rigs with established  operations in  Chile, 
Egypt, Ethiopia, Ghana, Mauritania, Mozambique, Tanzania, Solomon Islands  and 
Zambia. The Group's  corporate headquarters  is in  Singapore and  it has  its 
administrative offices for South America in Santiago, Chile.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


BOALFFFLLLLTLIF -0- Nov/19/2012 07:00 GMT