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2 Jul 2008 13:09
For immediate release 2 July 2008
LENI GAS & OIL PLC
("The Company" or "Leni Gas")
Board appointment
Leni Gas & Oil Plc (AIM: LGO) has pleasure in announcing the appointment of Fraser Pritchard to the Board as an Executive Director with immediate effect.
Mr Pritchard, aged 42, is an experienced international oil and gas senior executive with a track record spanning 20 years from most global oil & gas provinces and a diversity of international, national and state energy companies.
His knowledge of the lifecycle aspects of the sector was gained both in managerial and delivery roles, with business responsibility for corporate, operational, financial and commercial functions at Group, Regional and Country levels. This experience has been gained from direct leading roles with the supermajor oil & gas operator, ExxonMobil; and his skills in strategy, technology, commerce and risk management have been gained from working at consultancies, IBM, PricewaterhouseCoopers, and DNV; in addition he has recently held executive management roles for independent oil & gas operators, Noble Energy Europe and Ascent Resources plc.
Over the previous five years, the directorships held by Fraser Dunsmore Stewart Pritchard are as follows:
Current Former
3es innovation, Inc (elect) Columbus Petroleum, Inc.
There is no further information to be disclosed under Schedule Two of the AIM Rules for Companies.
David Lenigas, the Company's Chairman commented:
"We are delighted to welcome Fraser to the Board, and look forward to benefiting from his wide-ranging experience in the oil and gas industry. He will be assisting Leni Gas & Oil plc 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, 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 shares agreed to be issued on 9 June 2009, and 9 June 2010. This total holding of 1 million ordinary shares in the Company, would represent 0.2% of the Company's issued share capital as at today's date. In addition, Mr Pritchard has been issued with 1 million options at 10p which can be exercised on 9 June 2009 and 1 million options which can be exercised on 9 June 2010.
Enquiries:
Leni Gas & Oil Plc
David Lenigas Tel: +44 (0)20 7016 5100
Beaumont Cornish
Roland Cornish Tel: +44 (0)20 7628 3396
Rosalind Hill Abrahams Tel: +44 (0)20 7628 3396
Pelham PR
Charles Vivian Tel: +44 (0)20 7743 6672
Evgeniy Chuikov Tel: +44 (0)20 3008 5506
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