Indago Petroleum Names Bremner to CEO Post
Indago has appointed Dr. David Bremner as Chief Executive Officer with immediate effect. David, (54), has been a non-executive director of the Company since October 2005 and has over 30 years experience in the industry.
David joined BP in 1977, where he worked with their international staff in the UK and the USA and in 1984 he joined Merlin Petroleum, a start-up exploration company based in San Francisco, as Exploration Manager. After the sale of Merlin Petroleum in 1989 and a successful role in international petroleum consultancy, he joined Monument Oil & Gas in 1995 as Exploration Manager. In 1997 David was appointed Exploration Director for Monument, a position he held until that company was sold in 1999. Since that time he has been engaged in international petroleum consultancy. David holds a BSc honors degree and a PhD in geology from the University of Glasgow.
As part of Mr. Bremner's employment arrangements with the Company, he has been awarded options over 400,000 Ordinary Shares of $0.0005 each at an option price of 57.5 pence per share. The options vest in three equal instalments between six and 12 months, 24 months and 36 months respectively after the date of employment, being November 16, 2007.
Martin Groak, who has been acting Chief Executive, will revert to his former position as Chief Financial Officer.
Tim Eggar, Chairman of Indago commented:
"We are delighted that David has agreed to become Chief Executive. He has been an invaluable member of the Board and his wealth of knowledge about Indago, our objectives and our strategy as well as his global experience will undoubtedly help take the company forward into its next stage of development.
I would also like to take this opportunity to thank Martin Groak for his tireless work as interim CEO over the last few months."
David Bremner, said:
"Having worked closely with Indago since the time of the IPO two years ago, I am well acquainted with the Company's assets, partners, shareholders, staff and directors. I very much look forward to delivering the remainder of the drilling program on the Company's existing Omani portfolio and working with the team to develop new and material opportunities for the future."
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