21st Jul 2020 20:14
Chariot Oil & Gas Ltd - Atlantic margins-focused oil and gas company - says Chief Executive Larry Bottomley has stepped down with immediate effect. Adonis Pouroulis, currently non-executive director and founder, will take over as acting CEO with immediate effect "to guarantee business continuity and ensure a smooth transition". Julian Maurice-Williams, currently chief financial officer, and Duncan Wallace, currently exploration manager, will join the board with immediate effect as executive directors as CFO and technical director respectively. "Chariot continues to benefit from a strong financial position, with a cash balance of USD9.6 million as at 31 December 2019 with no remaining work commitments, and the board believes that the company has the right team in place to further progress the Lixus licence, whilst also being able to maximise shareholder value through other commercial avenues," said Chariot.
Current stock price: 2.09 pence
Year-to-date change: down 35%
By Lucy Heming;Â [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Chariot