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Proactive Investors - Chariot Oil & Gas Ltd (LON:CHARC) has announced the appointment of Andrew Hockey as its new non-executive chair, taking over from George Canjar, who has retired from the board with immediate effect.
Prior to today’s appointment, Hockey was a non-executive director.
“As chairman [George Canjar] helped steer the company through some critical times and we very much appreciate the significant contributions he made throughout his tenure. He will be a missed member of the team and we wish him well with his retirement,” chief executive Adonis Pouroulis said in a statement.
Hockey added: "I would like to thank George for his hard work and dedication to Chariot.
“Having worked together for the past five years, I look forward to a seamless transition and we as a board remain fully focused on maximising value for shareholders”.
Pouroulis highlighted that Chariot continues to make “good progress with our Transitional Power financing, our new venture opportunity and we are pursuing various funding avenues for our Green Hydrogen business".
Meanwhile, following recent well results, Chariot is now working to determine the next steps for its gas business.
“We will provide further updates on this in due course,” Pouroulis added.
“As we set out in our interim results, we are looking to preserve capital and have already taken steps to reduce costs where appropriate whilst we consider our forward work programmes."