(Sharecast News) - Challenger Energy announced the appointment of a new country head and managing director for its operations in Trinidad and Tobago on Thursday, with Sohan Ojah-Maharaj to assume the responsibilities in mid-April.
The AIM-traded firm said in the role, Ojah-Maharaj would be responsible for its day-to-day operations in Trinidad and Tobago and Suriname, and would work as a "key member" of the executive team on the aims of delivering organic production growth and seeking to add production growth inorganically.
Ojah-Maharaj is a Trinidadian national, who would be relocating back to the country for the role.
He is currently a senior reservoir engineer and business consultant at petroleum consultancy Gaffney Cline, where he has worked "extensively" in Trinidad and Tobago and the broader Caribbean region, as well as internationally.
Prior to Gaffney, Ojah-Maharaj held senior management and operational roles at a number of petroleum companies with assets in Asia, Europe and Trinidad and Tobago.
He is a graduate of Imperial College, London, with a Masters in Petroleum Production Management.
The company's current managing director for Trinidad and Tobago, Geoffrey Leid, would step down from that role in mid-April once Ojah-Maharaj starts, but would remain with the company for an "agreed transitional period" and thereafter as a consultant, working closely with Ojah-Maharaj to ensure an orderly transition.
"Following completion of the corporate restructuring and recapitalisation process, a number of important changes have taken place at the Challenger board and management level," said chief executive officer Eytan Uliel.
"Sohan is a Trinidadian national, and brings a wealth of oil field production experience to bear - both in Trinidad and the broader region - as well as deep business networks in Trinidad and Tobago."
In terms of the board, Uliel said that as previously advised, Iain McKendrick had now commenced as non-executive chairman, and previous chairman Bill Schrader and previous deputy chairman James Smith had both stepped down.
Tim Eastmond had started as chief financial officer and joined the board, and Gagan Khurana had assumed the role of chief commercial officer.
"As the process to restructure and recapitalise the company nears completion, all of us at Challenger very much look forward to the year ahead, as we focus on the simple aims of building safely delivered production, generating cash flow, and achieving profitability."
At 1454 GMT, shares in Challenger Energy were up 6.32% at 0.1p.