Ambassador Oil and Gas has appointed Jim McKerlie and Brad Lingo as directors of the Company, and Jean Moore as Company Secretary, being nominees of Drillsearch Energy Limited (Drillsearch) following Drillsearch acquiring a relevant interest in 84.2 percent of Ambassador.
Following the appointment of the Drillsearch nominees and the release of this announcement, David Shaw and Emmanuel Corriea will resign from the Ambassador Board. Tino Guglielmo will remain on the Ambassador Board for a short period.
On May 28 Drillsearch announced its intention to make an offer to acquire all of the shares of Ambassador it did not already own via an off-market takeover (the Offer). As at 9.00 am today, Drillsearch had a relevant interest in 84.2 percent of Ambassador.