(Alliance News) - Oilex Ltd on Wednesday appointed Peter Schwarz as an independent non-executive director, effective immediately.
Schwarz is a former director of BG Exploration & Production Ltd and chief executive of exploration company Virgo Energy Ltd.
"We are delighted with Peter's appointment to the board of Oilex. In addition to expanding the number of independent directors, Peter's appointment bolsters the technical depth and business development capability of the board as the company continues its strategy to expand the projects in its portfolio," Oilex Chair Brad Lingo said.
Shares in Oilex closed down 7.1% at 0.13 pence each in London on Wednesday.