(Alliance News) - Upland Resources PLC said Monday it has appointed Non-Executive Director Christopher Pitman as interim chief executive officer with immediate effect.
He will be replacing Stephen Staley, who resigned after seven years at the oil & gas company since 2012 for "personal reasons".
Shares in Upland Resources were 15% lower at 1.62 pence on Monday in London.
Pitman was appointed non-executive director in early September, and currently serves as director of 05 Energy Advisors Ltd and Surestream Petroleum Ltd.
"I look forward to leading Upland over this interim period and intend to work with my contacts in South East Asia with a view to securing additional valuable new opportunities for the company. We have already identified opportunities to progress with strategic partnerships involving the re-development of proven fields which are presently uneconomic for their current operators," Pitman said.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Upland Resource (UPL)