Petro Matad appoints Michael Buck as CEO

AIM-listed Petro Matad has appointed Michael Buck as its new chief executive officer.

Buck will be appointed to the board as soon as AIM regulatory processes have been completed and a further announcement in that regard will be made at that time.

An explorer by background, Buck spent the first 20 years of his career with UK independent E&P company LASMO PLC, going from graduate geophysicist to exploration manager and on to managing director of Overseas Business Units. After LASMO was bought by Eni, he was appointed managing director of Eni's Pakistan Geographic Unit and thereafter of the Iran unit.

He joined Salamander Energy in August 2006 and was the chief operating officer there until March 2015 when it was bought by Ophir Energy. He was retained by Ophir to help with the integration of the two businesses. After that, Buck established a new upstream E&P entity focused on SE Asia.

Enkhmaa Davaanyam, Chairperson of Petro Matad, said: "The company is fortunate that a candidate of Mike Buck's calibre and experience has agreed to join Petro Matad as CEO to guide the company through the exciting and challenging times ahead.”

At 0905 BST, the shares were up 1.5% to 6.60p.