The United Oil & Gas PLC (LON: UOG) share price edged 4% higher after announcing the resignation of its Chief Operating Officer (COO), Jonathan Leather, effective 31 August 2023. Jonathan has been with the company since its founding in 2015.
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Despite stepping down, Jonathan will continue working with the company in an advisory capacity to help complete the Jamaica farm-out ongoing process. Jonathan has been in charge of the farm-out process and will continue helping the company as a consultant in wrapping up the deal.
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Brian Larkin, United Oil’s CEO, commented: “Jonathan has been a valued colleague at United since the formation of the company in 2015. I would like to take this opportunity to thank him, on behalf of the Board and colleagues across United, for his commitment and contribution during his time here and the central role he has played in United's development to a full cycle oil and gas company. He remains central to our strategy on Jamaica and we are delighted that he will continue to support the Company on a consultancy basis through to the completion of this farmout process. He steps back from his Executive role with United with our best wishes for his future.”
Jonathan Leather, United Oil’s COO, commented: “It has been an incredible eight years with United, and it is very much with mixed emotions that I have made the decision to step down from the Executive team. Having been part of the journey that saw the company grow from an idea and a sketched-out plan to the full-cycle company it is today is, without doubt one of the most fulfilling things I have been part of professionally. I am very pleased to continue to be involved with United in an advisory capacity and will remain a significant shareholder, continuing to support this capable team as they grow the Company. Although I will continue to be involved in the company, I would like to take this opportunity to thank Brian and all of my colleagues at United for all the support they have given me over the last eight years.”
The United Oil & Gas (UOG) share price.
The United Oil & Gas share price edged 4.00% higher to trade at 1.30p, from Monday’s closing price of 1.25p.
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