Timan Oil and Gas, an independent oil and gas exploration and production company with its main assets in the Timan-Pechora region of Western Russia and the Caspian basin, says that at yesterday’s Annual General Meeting, Non-executive Chairman David Herbert and Non-executive Director Paul Ties stood down from the Board.

The Board would like to thank them for their invaluable contributions over the past two years, especially in relation to the flotation of the Group on AIM and to the securing of additional financing over the difficult past nine months.

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