20 Jun 2018 16:04
20th June 2018
Eland Oil & Gas PLC
("Eland" or the "Company")
Appointment of Non-Executive Director
Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to confirm the appointment of Nicholas Hugo Gay (age 62) as Non-executive Director to the Board of Directors of the Company effective 22nd June 2018.
Nicholas Gay is a qualified chartered accountant and taxation specialist, and an experienced upstream executive with over 30 years' experience in the international oil and gas industry. He began his career with Arthur Andersen & Co and progressed to finance and taxation roles in the UK North Sea with LL&E and Kerr McGee.
Mr. Gay has extensive public markets experience having served in the positions of Chief Financial Officer of PetroKazakhstan, and as Chief Executive Officer of PetroLatina Energy and Bitech Petroleum. Subsequently he was CFO and then CEO of Compact GTL. Mr Gay was also a Non-executive Director of Petroceltic International and Toreador Resources.
Russell Harvey, Chairman of the Company, stated:
"I am delighted to welcome Nicholas to the Eland board. He brings a wealth of industry, corporate governance and financial regulatory experience which will be both invaluable and additive as the company grows."
Set out below are details of Mr. Gay's current directorships and those that he has held within the last five years:
Current Directorships:
St Petrock's (Exeter) Limited
Past directorships within the last 5 years:
CompactGTL Limited
British Foundation for International Reconstructive Surgery and Training
Energy Institute
Petroceltic International plc
Mr. Gay was a director of CompactGTL Limited when it entered administration on 8 January 2014. CompactGTL Limited exited the administration process on 4 February 2014.
Petroceltic was placed into Examinership during 2016 by Worldview, its largest shareholder. Examinership is a process in Irish law whereby the protection of the High Court is obtained to allow a company to restructure. Petroceltic was restructured and delisted from AIM in June 2016
Save as disclosed above, there are no further disclosures required to be made in respect of the appointment under Schedule 2(g) or Rule 17 of the AIM Rules for Companies.
For further information:
Eland Oil & Gas PLC (+44 (0)1224 737300)
www.elandoilandgas.com
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