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Leni Gas & Oil founder retires from board following Goudron field success

29th August 2014

The eponymous founder of Leni Gas & Oil, David Lenigas, has stepped down from the company’s management board this week having achieved outstanding exploration and production success at the Goudron field onshore Trinidad

Leni Gas and Oil founder retires from board following Goudron field success
Leni Gas and Oil will be subsequently rebranding itself as LGO plc within the next six months

"The original objective of LGO was to create an oil production company with over 1,000 bopd and the company is now poised to significantly exceed these original expectations as new wells are drilled and come on to production from the Goudron Field in Trinidad,” said Lenigas.

“The recent success of the company is a source of great satisfaction to me, and indeed should be to all shareholders, and I feel confident that this is an ideal time to hand over the reins to a larger and very experienced board of directors who I know will continue to drive the company's strategy forward.  I am committed to remaining a substantial shareholder in the company for the long-term."

Leni Gas & Oil will be subsequently rebranding itself as LGO plc within the next six months.

“It is no exaggeration to say that David Lenigas has made an enormous contribution to the business throughout his tenure, and we wish him all the best with his other business ventures,” said Neil Ritson, LGO CEO. “On behalf of the board and all the team, I would like to thank David for his contribution and for his unswerving commitment to LGO. I am sure his entrepreneurial spirit will live on in the Company as we seek to continue the growth trajectory of the last year."

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