[ARCHIVE] Solo Oil names Neil Ritson as the Non-Executive Chairman, and appoints Donald Strang and Fergus Jenkins to the Board as Executive Directors

– UK, London – Solo Oil Plc (AIM: SOLO) announces a number of changes to the Board of the Company with immediate effect.

Mr Neil Ritson has today been appointed as the Non-Executive Chairman of the Company. Mr Ritson has served as the Company’s Executive Director since 6 December 2010 and replaces Mr David Lenigas who today retires from the Board and its committees. 

Mr Lenigas has been the Company’s Chairman since 30 January 2008 and to ensure Solo continues to benefit from his wide experience and knowledge of the London capital markets he will continue to advise the Board for a minimum period of twelve months through a consultancy agreement.

In addition, the Company announces the appointment of the two new Executive Directors to the Board – Mr Donald Strang and Mr Fergus Jenkins. 

Mr Strang is a member of the Australian Institute of Chartered Accountants and has been in business over 20 years, holding senior financial and management positions in both publicly listed and private enterprises in Australia, Europe and Africa. Mr Strang has considerable corporate and international expertise and over the past decade has focused on mining and exploration activities in the oil and gas and natural resources sectors. He is currently a director of a number of AIM listed companies including Rare Earth Minerals Plc, Doriemus Plc, UK Oil & Gas Investments Plc and Polemos Plc.

Mr Jenkins is a Chartered Engineer with a Bachelor of Engineering degree in Mining Engineering and a Master of Engineering degree in Petroleum Engineering. He has 20 years of experience working in industry, initially in mining before moving to petroleum. MrJenkins worked in a variety of technical and increasingly senior managerial positions in mid-sized independent oil companies, including Enterprise Oil, LASMO, OMV (UK) Ltd and Afren plc and he currently serves as Chief Operating Officer to the AIM-traded Leni Gas & Oil plc. 

Neil Ritson, Solo’s Chairman, commented: “I am delighted to be able to continue to guide the Company towards its investment goals.  We have a very exciting near-term future with the commercialization of our gas-condensate fields in Tanzania and our investment in Horse Hill.  I would like to thank David for his ongoing support and to welcome Fergus and Don to the Board.”

David Lenigas commented: “It has taken quite some years to transition Solo Oil from its previous life as a technology company, and I see the Company having a very bright future with its Tanzanian gas developments planned on its Ruvuma and Kiliwani North projects in Tanzania. The time has come to transition the board to one that will assist Neil convert Solo from what has been historically an exploration company to one that will soon be a producer.”