Additional Information
Market: AIM
Sector: Energy
EPIC: MOIL
Latest Price: 8.63p  (2.98% Ascending)
52-week High: 21.00p
52-week Low: 8.00p
Market Cap: 56.15M
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Madagascar Oil is an AIM listed company focused on the development of heavy oil and conventional oil & gas deposits in five onshore blocks in Madagascar. The Company has significant exploration and development rights for oil and gas in Madagascar, and in the last five years the Group's two principal fields, Tsimiroro and Bemolanga,...

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Madagascar Oil appoints CFO as it restructures board

July 01 2013, 7:39am Madagascar Oil appoints CFO as it restructures board

Madagascar Oil (LON:MOIL) has confirmed a number of boardroom changes after a major fundraising earlier this year.

Gordon Stein has been hired as chief financial officer, and Richard Laing, Al Njoo and Achmad Madjedi Hasan all join the board as non-executive directors.

Meanwhile, Ian Barby and Peter Kingston have stepped down from their positions as non-executive directors.

"We are delighted with the progress we have made in restructuring the team over the last few months and achieving the significant milestone of commissioning the Tsimiroro pilot,” said chairman Andrew Morris.

“We will continue to strengthen the team as the needs of the business evolve.

"I would like to thank the outgoing directors for their support and contributions, especially over the last few months and welcome the new directors and Mr. Stein who will bring a wealth of talent and experience to the team."

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