Magellan Petroleum Corporation says that its Board has appointed Antoine J. Lafargue as the Company's new Senior Vice President - Chief Financial Officer, Treasurer, and Corporate Secretary effective June 19, 2015, which is the effective date of the previously reported resignation of Matthew R. Ciardiello as Vice President - Chief Financial Officer, Treasurer, and Corporate Secretary. Mr. Lafargue has served as the Company's Senior Vice President of Strategy and Business Development and Chief Commercial Officer since October 2014, and he previously served as the Company's Vice President - Chief Financial Officer and Treasurer from August 2010 to October 2014.
J. Thomas Wilson, President and CEO of the Company, stated, 'Matt wanted to develop his career in a different industry and at a company backed by private equity investors, with which he had prior experience. Matt has been a valuable member of our team and we wish him well in his new endeavor. While we are collecting the results of the CO2 project at Poplar, we will rely on the Company's existing resources to execute our current strategy. I know that Antoine will transition seamlessly back into the role of CFO, a position he has held previously with Magellan.'