Eland Oil & Gas PLC, the oil and gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, announces several changes to its Board of Directors.
With effect from 31 December 2015, Henry 'Harry' Wilson retired from his role as Chairman of the Company. Harry has been Chairman since its successful flotation in 2012 and was one of the founders.
The Company further announces that, with effect from 31 December 2015, Robert 'Bob' Lambert retired as Non-executive Director of the Company.
Also on that date, the Company appointed Grégory Stoupnitzky to the Board as a Non-executive Director. Gregory has over 25 years of Investment Banking experience in the natural resources and related sectors.
Harry Wilson, outgoing Chairman of the Company said:
"It has been a pleasure working with the team at Eland over the last five years. With the quality of its Nigerian assets, the Company is well positioned to benefit from an upswing in the oil price and I look forward to following its progress"
The Board of Eland also announces that Russell Harvey will be assuming the position of Non-executive Chairman of the Company. Russell has been a Non-executive Director of the Company since its admission on AIM in 2012.
Russell Harvey, incoming Chairman of the Company stated:
"I am pleased to assume the role of non-executive Chairman. The Company has made substantial progress since it was listed and has great potential for further growth given the established team and quality of its assets. The re-balancing of the Board is in response to the opportunities being created by the new market environment and to assist the Company in its next stage of development.
I would like to thank both Harry and Bob for their contributions which were pivotal in bringing the Company to its current producing status and wish them well in their future endeavours.
I would also like to welcome Grégory to the board. He brings a wealth of experience from the corporate and banking sector which will be additive to the skills already represented on the board."