Oilex Ltd (Oilex or Company) advises the following changes to the composition of the board of directors.
The Company wishes to advise that Mr Brad Lingo has stepped down as a Director of Oilex Ltd effective today. Mr Lingo continues to assist the Company while it engages with third parties in regard to a potential sale of its Cooper-Eromanga Basin assets.
Mr Salomon, Oilex’s Managing Director, has been appointed by the Board to the position of interim Executive Chairman, while the Company completes its search for a new Independent Non-Executive Chairman.
Managing Director and incoming Executive Chairman of Oilex, Joe Salomon, said;
“On behalf of the Board, we would like to thank Mr Lingo for his significant contribution to the Company, since 2016. Mr Lingo has been a fundamental part of the Oilex Board as Non-Executive Director and Chairman since 2017.