The Board of Azonto says that a "fit for purpose" review of the Company's operating structure and costs has been carried out with the objective of maintaining the viability of the current portfolio whilst facilitating the continued maturation of other potential opportunities. As a result of this review Rob Shepherd and Andrew Rose are resigning from the Company with immediate effect as Managing Director and Finance Director respectively.

Gregory Stoupnitzky, who is currently the Company's Business Development Director, has been appointed Managing Director with immediate effect; together with the remaining members of the Company's Executive Team comprising Jay Smulders, Technical Director and Jeff Durkin, General Counsel, he is assuming responsibility for managing the Company on a day-to-day basis. Ron Nelmes, the Company's Financial Controller, will support financial matters.

Tags: Azonto Petroleum Ltd