19th Nov 2024 14:07
(Alliance News) - Corcel PLC appointed Richard Lane as Chief Operating Officer on Tuesday, alongside new independent non-executive chair Pradeep Kabra.
Kabra steps up from his role as independent non-executive director at Corcel to chair the board. He replaces interim chair Andrew Fairclough, who was appointed in July, and who stays on as independent non-executive director and chair of the audit committee.
Lane joins Corcel after a stint as a freelance consultant, following his departure as COO of TSX-listed firm Petro-Victory Energy in July 2023.
Corcel's Chief Operating Officer Scott Gilbert said Lane's expertise on the Kwanza Basin in Angola and Brazil "will be crucial as we advance our assets and execute on our growth strategy in these key markets". He described the past few months as a "critical transition phase" for the company.
The new appointments follow Monday's announcement that Corcel has entered a deal to acquire a new gas production asset in Brazil.
Corcel shares were down 5.3% at 0.18 pence each on Tuesday afternoon in London.
By Holly Munks, Alliance News reporter
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