IOG PLC Appointment of Independent Non-Executive Director (2874X)
25 April 2023 - 4:00PM
UK Regulatory
TIDMIOG
RNS Number : 2874X
IOG PLC
25 April 2023
25 April 2023
IOG plc
Appointment of Independent Non-Executive Director
IOG plc ("IOG", or "the Company"), (AIM: IOG.L) announces that,
following the announcement on 24 February 2023 of the intention to
recruit two new directors to strengthen the Board, Les Wood has
been appointed as an independent Non-Executive Director of the
Company with immediate effect and will become Chair of the Audit
Committee in due course.
Les has a 35-year track record of strong financial and
operational delivery in independent and integrated energy companies
across multiple jurisdictions. As Chief Financial Officer (CFO) and
Executive Director at Tullow Oil plc over 2017-22, he was
instrumental in delivering material portfolio optimisation, cost
management, debt reduction and capital markets activities. Prior to
Tullow, Les had a 28-year career at BP plc including, most
recently, CFO roles in the Middle East (2012-14) and Canada
(2009-12). With a technical background, he previously held several
other North Sea-focused technical and commercial roles at BP.
Les Wood's appointment is the culmination of a process
undertaken for the Company by a specialist search agency. IOG
intends to appoint an additional independent Non-Executive Director
once the Blythe H2 production well is onstream.
Esa Ikaheimonen, Senior Independent Director, commented:
"We are delighted to welcome Les to the Board of IOG where his
strong financial and technical expertise and deep industry
experience gained at BP and Tullow will be extremely valuable. Les
was the outstanding choice from a broad range of strong candidates
in this process."
The following information is disclosed pursuant to Rule 17 and
Schedule Two, paragraph (g) of the AIM Rules for Companies:
George Leslie ("Les") Wood
George Leslie ("Les") Wood (aged 61) has been a director of the
following companies during the five years preceding the date of
this announcement:
Current Directorships
None
Previous Directorships
Panoro Equatorial Guinea Limited
Planet Oil International Limited
Tullow Argentina Limited
Tullow Comoros Limited
Tullow Congo Limited
Tullow Côte D'Ivoire Exploration Limited
Tullow Côte D'Ivoire Limited
Tullow Cote D'Ivoire Onshore Limited
Tullow EG Exploration Limited
Tullow Gabon Holdings Limited
Tullow Gabon Limited
Tullow Gambia Limited
Tullow Greenland Exploration Limited
Tullow Group Services Limited
Tullow Guinea Limited
Tullow Jamaica Limited
Tullow Madagascar Limited
Tullow Mauritania Limited
Tullow Mozambique Limited
Tullow Namibia Limited
Tullow New Ventures Limited
Tullow Oil (Jersey) Limited
Tullow Oil (Mauritania) Limited
Tullow Oil 100 Limited
Tullow Oil Finance Limited
Tullow Oil Holdings (Guernsey) Limited
Tullow Oil Plc
Tullow Oil SK Limited
Tullow Oil SNS Limited
Tullow Oil SPE Limited
Tullow Peru Limited
Tullow Technologies Limited
Tullow Uganda Midstream Limited
Tullow Uruguay Limited
There is no further information to be disclosed in relation to
the director appointment pursuant to Rule 17 and Schedule 2,
paragraph (g) of the AIM Rules for Companies.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
Enquiries:
IOG plc
Rupert Newall (CEO)
James Chance (Head of Capital Markets & ESG) +44 (0) 20 7036 1400
finnCap Ltd
Christopher Raggett / Simon Hicks +44 (0) 20 7220 0500
Peel Hunt LLP
Richard Crichton / David McKeown +44 (0) 20 7418 8900
Vigo Consulting
Patrick d'Ancona / Finlay Thomson +44 (0) 20 7390 0230
About IOG:
IOG is a UK developer and producer of indigenous offshore gas.
The Company began producing gas in March 2022 via its offshore and
onshore Saturn Banks production infrastructure. In addition to its
production assets, IOG operates several UK Southern North Sea
licences containing gas discoveries and prospects which, subject to
future investment decisions, may be commercialised through the
Saturn Banks infrastructure. All its assets are co-owned 50:50 with
its joint venture partner CalEnergy Resources (UK) Limited. Further
details of its portfolio can be found at www.iog.co.uk .
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