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.

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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.