UKOG Executive Chairman Retires

UK Oil & Gas Investments announced Wednesday that Stephen Sanderson has replaced David Lenigas as the Executive Chairman of the company.

Sanderson, who manages the company’s interest in the Horse Hill project near Gatwick airport, will remain the UKOG Chief Executive, a position he has held since January 2015. Although Lenigas is retiring from his position, he will be retained as a consultant to the company for a period of at least four months to assist with the transition.

Stephen Sanderson, UKOG Executive Chairman, commented in a company statement:

"David Lenigas has made a substantial contribution to UKOG's business throughout his tenure, and we wish him success with his other business ventures. On behalf of the board and all the team, I would like to thank David for his contribution and for his commitment to UKOG and the company's assets in the south of England. I am thus delighted to be asked to lead the company into what I believe will be a very exciting and productive future."

David Lenigas, commented in a UKOG release:

"It is my policy to step down from the boards of companies once I believe that they have reached a state of maturity where they require sector-experienced executive management to take over. The progress the company has made is a source of great satisfaction and I feel confident that this is the right time to hand over the reins to a respected oil executive with high credentials who I believe will continue to drive the company forward."

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