Bowleven holds off on appointment of new chairman

Africa focused oil and gas group Bowleven has decided to delay its decision to appoint a new external non-executive chairman until results were seen from its two well appraisal drilling campaign on the Etinde field.

While Bowleven awaits "more clarity" on the campaign's outcome, it has appointed Matt McDonald, currently a non-executive director of the company, to play the part of interim non-executive chairman, with immediate effect.

The drilling programme on the Etinde field in Cameroon, which Bowleven holds a 25% stake in, was expected to begin during the second quarter of 2018.

The AIM-quoted group's previous non-executive chairman, Chris Ashworth, stepped down in December.

As of 0900 BST, Bowleven shares had gained 3.02% to 38.32p.