Indago Petroleum Limited, the oil and gas exploration company, today announces the appointment of Mr Stephen David Lambert (42) as Group Commercial Director with effect from 21 May 2007. This appointment is the first step in the Company strengthening its management team following completion last month of the Disposal of 100 per cent. of the Group's Production and Development Assets and of approximately 50 per cent. of the Group's Exploration Assets to RAK Petroleum Public Company Limited.
Stephen Lambert has a proven track record of business development in the international oil and gas industry. He joins Indago from Chevron, where he was General Manager, Strategy and Planning, for Business Development. Prior to that, he worked in a variety of roles for Monument Oil and Gas, Lasmo and in the M&A Group at Ernst & Young. He has extensive experience in a variety of geographies, including the Middle East, the Caspian and the Indian sub-continent. Stephen is also a member of the Institute of Chartered Accountants in England and Wales and of The Chartered Institute of Taxation.
Tim Eggar, Chairman of Indago, commenting on today's announcement said:
"I am delighted that Stephen is joining Indago. His experience will be crucial in both executing Indago's existing exploration programme in Oman and pursuing additional opportunities in future."