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2 Jul 2008 13:09
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For immediate release 2 JulyΒ 2008Β
LENIΒ GASΒ &Β OILΒ PLC
("TheΒ Company"Β or "Leni Gas")
Board appointmentΒ
Leni Gas & Oil Plc (AIM: LGO)Β has pleasure in announcing the appointment ofΒ FraserΒ PritchardΒ to the BoardΒ as an Executive DirectorΒ with immediate effect.
Mr Pritchard, aged 42,Β is anΒ experienced international oil and gasΒ senior executive withΒ a track record spanning 20 years from most global oil & gas provinces and a diversity of international, national and state energy companies.Β
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His knowledge of the lifecycle aspects of theΒ sectorΒ was gainedΒ both in managerial and delivery roles, with business responsibility for corporate, operational,Β financialΒ and commercialΒ functionsΒ at Group, Regional and Country levels. This experience has been gained from direct leading roles with theΒ supermajor oil & gas operator, ExxonMobil;Β and his skills in strategy, technology, commerceΒ and risk managementΒ have been gainedΒ from working atΒ consultancies,Β IBM,Β PricewaterhouseCoopers,Β andΒ DNV;Β in addition heΒ has recently held executive management rolesΒ forΒ independent oilΒ & gas operators, Noble Energy Europe andΒ Ascent ResourcesΒ plc.Β
Over the previous five years, the directorships held byΒ Fraser Dunsmore Stewart PritchardΒ are as follows:
Current Former
3esΒ innovation,Β IncΒ (elect) Columbus Petroleum, Inc.Β
There isΒ no further information to be disclosed under Schedule Two of theΒ AIMΒ Rules for Companies.
David Lenigas, the Company's Chairman commented:Β
"We are delighted to welcomeΒ FraserΒ to the Board, andΒ look forward to benefitingΒ from hisΒ wide-rangingΒ experience inΒ the oil and gas industry. He will be assisting Leni GasΒ & Oil plcΒ transition all assets into full operating status as well as identify new commercial and technology opportunities for the Company to pursue."
In accordance with the management incentive arrangements announced on 9 June 2008,Β Fraser Pritchard currently owns 333,333,ordinary shares or 0.06% of the current issued share capital, with two further tranches of 333,333 ordinary sharesΒ agreed toΒ beΒ issuedΒ on 9 June 2009, and 9 June 2010. This total holding ofΒ 1 millionΒ ordinary shares in the Company,Β wouldΒ representΒ 0.2% of the Company's issued share capitalΒ as at today's date. In addition, Mr Pritchard has been issued with 1Β million options at 10p which can be exercisedΒ onΒ 9 JuneΒ 2009Β andΒ 1 million options which can be exercised onΒ 9Β June 2010.
Enquiries:
Leni Gas & Oil PlcΒ
David LenigasΒ Tel: +44 (0)20 7016 5100Β
BeaumontΒ CornishΒ
Roland CornishΒ Tel: +44 (0)20 7628 3396Β
Rosalind Hill AbrahamsΒ Tel: +44 (0)20 7628 3396
Β
Pelham PRΒ
Charles VivianΒ Tel:Β +44 (0)20 7743 6672Β
Evgeniy Chuikov Tel:Β +44 (0)20 3008 5506
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