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UK Oil & Gas Inv PLC (UKOG)

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Wednesday 08 July, 2015

UK Oil & Gas Inv PLC

Board Changes

RNS Number : 5001S
UK Oil & Gas Investments PLC
08 July 2015
 



8 July 2015         

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

 

Board Changes.

 

Stephen (Steve) Sanderson has been appointed to the Board as the new Executive Chairman of the Company.  Mr Sanderson has been (and will remain as) the Chief Executive of the Company, a non-board position, since January 2015 and has been instrumental in growing the Company's UK asset base and managing the Company's interest in the Horse Hill Project near Gatwick Airport.

Mr Sanderson replaces David Lenigas as Executive Chairman, who is retiring from the board to focus on other business interests. Mr Lenigas will be retained as a consultant to the Group for a period of at least 4 months to assist with this transition.

Mr Sanderson is a petroleum geologist with over 30 years global upstream energy sector experience.

Mr Sanderson is a graduate and associate of the Royal School of Mines, Imperial College, London, a Fellow of the Geological Society of London and an active member of the American Association of Petroleum Geologists.

Stephen Sanderson, UKOG Executive Chairman, commented:

"David Lenigas has made a substantial contribution to UKOG's business throughout his tenure, and we wish him success with his other business ventures. On behalf of the Board and all the team, I would like to thank David for his contribution and for his commitment to UKOG and the Company's assets in the south of England.

I am thus delighted to be asked to lead the Company into what I believe will be a very exciting and productive future."

David Lenigas, commented:

"It is my policy to step down from the boards of companies once I believe that they have reached a state of maturity where they require sector-experienced executive management to take over. The progress the Company has made is a source of great satisfaction and I feel confident that this is the right time to hand over the reins to a respected oil executive with high credentials who I believe will continue to drive the Company forward."

The names of all companies of which Mr Sanderson, aged 59, has been a director at any time in the previous five years are set out below:

Buntybay Energy Limited

Previous

Argos Sibinga Petroleum Asp (E&P) Ltd

Previous

Delta Hydrocarbons BC (Formerly EEP LLP)

Previous

 

Mr Sanderson has 25,000,000 options with an exercise price of 0.4 pence and which expire on 31 December 2017.

There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules.

 

 

For further information please contact:

UK Oil & Gas Investments PLC

Stephen Sanderson                                                                                        Tel: 020 7440 0640

WH Ireland (Nominated Adviser and Broker)

James Joyce / Mark Leonard                                                                       Tel: 020 7220 1666

Square 1 Consulting (Public Relations)

David Bick / Mark Longson                                                                           Tel: 020 7929 5599



 


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