NZOG Chief Executive To Step Down

NZOG (New Zealand Oil & Gas Ltd) advises that Chief Executive and Managing Director David Salisbury has given six months notice of his resignation.

David Salisbury joined NZOG in April 2007. He is resigning for personal reasons and his last day with the company will be 29 December 2011.

NZOG Chairman Tony Radford said "the Board is disappointed to be losing someone of David's calibre. David has made a tremendous contribution during a period of growth for our business that has included many significant challenges.

"David has brought great enthusiasm, rigour, discipline and insight to our business strategy. I know he is keen to conclude a number of important initiatives over the coming months."

Tony Radford said the six month notice period provides time to ensure a smooth transition and a process will commence shortly to recruit a replacement Chief Executive.