Angus Energy Plc announced that its Managing Director Paul Vonk has resigned from office with immediate effect. Following his resignation, the Company has appointed George Lucan to the Board as interim Managing Director. As noted, Paul Vonk has resigned as Managing Director from the Board with immediate effect.

The Company has appointed George Lucan as Executive Director and interim Managing Director. The Company has agreed to appoint Carlos Fernandes, currently non-Board CFO, as Finance Director, subject to satisfactory regulatory checks. In addition, the Company is actively working on the appointment of an independent Non-Executive Chairman, at which point it is expected that Cameron Buchanan, currently acting Chairman, will resume his role as a Non-Executive Director.

Chris De Goey will stay on as Non-Executive Director to help oversee the transition. It is also intended to appoint to the Board Andrew Hollis, currently the Company's Chief Technical Officer and an experienced Exploration and Production Manager following 23 years at BG International. As stated above, George Lucan will act as interim Managing Director pending the Company's continuing search for a permanent appointment with industry experience to develop the Company's business beyond its current core strategy.

George Lucan began his career at Dresdner Kleinwort Benson where he spent 10 years, mainly within the Structured Finance team, and continued in alternative fund management, most recently with Rudolf Wolff Limited.