Lekoil says that Non-Executive Director Mr Atedo Peterside has notified the Company of his intention to step down from the Board due to time constraints arising from additional demands on his time from some of his prior commitments.

Samuel Adegboyega, Chairman, said, "Atedo Peterside has helped to guide Lekoil through its formation to the IPO last year. His experience and contacts have been invaluable during this initial acquisition phase and on behalf of the Board, management team and shareholders, I thank him for his counsel and wish him well for the future. As the Company looks to develop our operational capacity, we have identified a replacement Non-Executive Director to join the Board who has extensive operations experience in the Nigerian Oil & Gas industry and we look forward to sharing the candidate with the market once the appointment is confirmed in the coming weeks."

Tags: Lekoil