UK Oil & Gas Investments - Re: UKOG Stream Log - Stephen (Steve) Sanderson has been...

Stephen (Steve) Sanderson has been appointed to the Board as the new Executive Chairman of the Company.  Mr Sanderson has been (and will remain as) the Chief Executive of the Company, a non-board position, since January 2015 and has been instrumental in growing the Company's UK asset base and managing the Company's interest in the Horse Hill Project near Gatwick Airport. Mr Sanderson replaces David Lenigas as Executive Chairman, who is retiring from the board to focus on other business interests. Mr Lenigas will be retained as a consultant to the Group for a period of at least 4 months to assist with this transition. Mr Sanderson is a petroleum geologist with over 30 years global upstream energy sector experience. Mr Sanderson is a graduate and associate of the Royal School of Mines, Imperial College, London, a Fellow of the Geological Society of London and an active member of the American Association of Petroleum Geologists. Stephen Sanderson, UKOG Executive Chairman, commented: "David Lenigas has made a substantial contribution to UKOG's business throughout his tenure, and we wish him success with his other business ventures. On behalf of the Board and all the team, I would like to thank David for his contribution and for his commitment to UKOG and the Company's assets in the south of England. I am thus delighted to be asked to lead the Company into what I believe will be a very exciting and productive future." David Lenigas, commented: "It is my policy to step down from the boards of companies once I believe that they have reached a state of maturity where they require sector-experienced executive management to take over. The progress the Company has made is a source of great satisfaction and I feel confident that this is the right time to hand over the reins to a respected oil executive with high credentials who I believe will continue to drive the Company forward."