Attis Oil and GasLtd – Board Changes and Change of Name

Attis Oil and GasLtd – Board Changes and Change of Name

Mayan Energy Ltd (London AIM: MYN), the AIM-traded oil and gas company, is pleased to announce the appointment of two new directors to the Board of the Company and its change of name to Attis Oil and Gas Ltd, both with immediate effect. 

Further to the announcement dated 30 April 2019, the Company is pleased to announce the appointment of Thomas (“Thom”) Board as Chief Operating Officer and Executive Director and Russell Lamming as a Non-Executive Director.   Mr JD McGraw, a Non-Executive Director, resigns from the board effective immediately.   

Mr Thom Board is currently Managing Director of Attis Oil & Gas Inc. (“Attis”), recently acquired by the Company (please see announcement dated 30 April 2019) and has extensive experience in the oil service’s industry.  Starting his career in the North Sea subsea construction sector, he is an experienced director having held senior executive roles in junior and mid-tier public and private oil & gas companies. Thom was a founder and CEO of NamQuest Oil & Gas plc prior to its admission to AIM in May 2008 as Chariot Oil & Gas Limited. Mr Board is a member of the Society of Petroleum Engineers who is a suitably qualified person with over 24 years’ experience operating and developing oil and gas assets.  It is expected Mr Board will act as a Qualified Person for AIM purposes going forward. 

Mr Russell Lamming (B.Sc Hons, B.Com) is a proven executive with capital markets and executive expertise.   A qualified geologist, Russell has a broad range of experience including a previous directorship with a South African mining consultancy, a precious metals analyst for a leading international broker and was the  CEO at AIM-traded Chromex Mining Plc and Goldplat Plc.  He has strong relationships in London and internationally and has raised considerable funds for resource companies over the years.  He is currently CEO of AIM-traded Keras Resources PLC. Thom and Russell are joining the Board as representatives of the Attis shareholders, as detailed in the acquisition agreement between Mayan and Attis.

In addition to the above executive and board changes, Mr Paolo Amoruso is moving from his current position of Non-Executive Chairman to become Executive Chairman and General Counsel.   Mr Amoruso is a qualified lawyer with a background in the upstream US oil and gas sector.  As notified in the announcement of Mr Amoruso’s appointment as the Company’s Chairman, at the time, Paolo was a Partner at McGowen & Fowler PLLC (“M&F), a US legal firm providing legal services to the Company. Whilst M&F have continued to provide legal services to the Company, given the level of legal advice the Company requires in managing its existing operations and looking at new opportunities, it has now agreed that it would be beneficial to receive the same high quality legal counsel and commercial advice in house thereby resulting in cost saving and efficiency enhancements, as the management team looks to progress the business. Paolo will, at the same time, continue to the lead the Board in setting and implementing the Company’s strategy.

Name Change

The Company is also pleased to announce that the change of name to Attis Oil & Gas Ltd will become effective on the AIM Market today, with shares traded under the ticker AOGL and a new ISIN as follows VGG0620A1003.

A new corporate website is available to view here: www.attisog.com.

Charlie Wood, CEO of Mayan Energy, said, “Today’s name and board changes formally complete the acquisition of Attis and the re-alignment of Mayan. The remainder of 2019 will be used to integrate our operations and begin to leverage the advantages provided to the Company through the acquisition of Attis in order to drive sustained production growth and enhance our portfolio further.  We are excited by the journey ahead and the strong management platform we now have to build out a material oil and gas business.” 

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