Appointment of CFO

RNS Number : 2475X

Lekoil Limited

20 February 2017

 

 20 February 2017

Lekoil Limited

("LEKOIL" or the "Company")

Appointment of Chief Financial Officer

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, is pleased to announce the appointment to the Company and Board of Directors of Bruce Burrows as Chief Financial Officer ("CFO") with effect from 27th February 2017.

Mr Burrows brings a wealth of experience in the oil and gas sector, much of it in Nigeria. For the past six years, Mr Burrows has been the CFO of Seven Energy, a private integrated gas company in south east Nigeria, with upstream oil and gas interests in the region. Prior to Seven Energy, Bruce was for 14 years Finance Director of JKX Oil & Gas PLC, the London listed exploration and production Company with interests in Ukraine and central and Eastern Europe.

At Seven Energy, Mr Burrows participated in key decisions and strategic initiatives as well as being responsible for the finance functions and performance across the business. He was centrally involved in debt and equity capital raises during a growth phase of the company. Mr. Burrows established and maintained productive, proactive and effective relationships with investors and banks in the UK, Nigeria and internationally.

Mr Burrows is a member of the Institute of Chartered Accountants of Australia & New Zealand and initially held various positions at Ernst & Young in both Wellington and London. He holds a BSc Honours degree from Canterbury University, a Diploma in Accounting from Victoria University.

Commenting on the appointment, Samuel Adegboyega, Chairman of Lekoil, said:

"We are delighted to welcome Bruce to LEKOIL. His experience working in Nigeria, his knowledge of the investment and banking communities and his experience at a producing company will be invaluable to us as we embark on the next chapter in LEKOIL's development. "

The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies in relation to the appointment of Bruce Burrows:

Bruce Burrows (aged 58)

Current Directorships / Partnerships	Past Directorships / Partnerships (last 5 years)
Seven Energy (UK) Limited	Realto Energy Limited
	European Goldfields Limited

For further information, please visit www.lekoil.com or contact:

LEKOIL Limited Alfred Castaneda, Investor Relations Hamilton Esi, Corporate Communications	[phone] [phone]
Strand Hanson Limited (Financial & Nominated Adviser) James Harris / James Spinney / Ritchie Balmer	[phone]
Mirabaud Securities LLP (Joint Broker) Peter Krens / Edward Haig-Thomas	[phone] / [phone]
BMO Capital Markets (Joint Broker) Vicary Gibbs / Neil Haycock / Thomas Rider	[phone]
Tavistock (Financial PR) Simon Hudson / Barney Hayward / Merlin Marr-Johnson	[phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR')

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