Corcel PLC, an Angolan focused exploration and production company, has announced several changes to its Board of Directors. Ms. Geraldine Geraldo, the Company's MD Angola and Chief Commercial Officer, has been appointed as an Executive Director. She brings over 15 years of experience in the oil and gas sector and has held multiple positions with Chevron in the USA and Angola. Mr. Pradeep Kabra has joined the Company as a Non-Executive Director. He has over 35 years of oil and gas experience and currently serves as the MD of Ojas Consulting SA. Mr. Andrew Fairclough has also joined as an Independent Non-Executive Director. He has over 28 years of finance and oil and gas experience, including serving as the CFO of Serinus Energy plc.

The Company also announced the future appointment of Ms. Jennifer Ayers and Mr. Deepak Kabra, subject to completion of regulatory checks. Ms. Ayers, the Company's Chief Technical Officer, will join the Board as the Chief Technical Officer. She has over 25 years of experience in the oil and gas sector and has held senior positions at CNOOC, Chevron, and TotalEnergies. Mr. Deepak Kohli, the CEO of Faber Capital, will join the Board as a Non-Executive Director. He has experience in M&A advisory, capital restructuring, and capital raising in the oil and gas sector.

The Board changes are part of the Company's pivot to oil and gas and its dedication to the development of its Angolan onshore oil portfolio. Corcel Executive Chairman, Antoine Karam, expressed his confidence in the revised Board, stating that they have the necessary experience to drive the Company to its next level of development. He also thanked Ewen Ainsworth for his years of service and announced that the Company plans to hold investor events in 2024 to engage with the new Board directly.

The Board of Directors will consist of Mr. Karam (Executive Chairman), Ms. Geraldo (Chief Commercial Officer and MD Angola), Ms. Ayers (Chief Technical Officer), and Mr. Kohli, Mr. Kabra, and Mr. Zhao (Non-Executive Directors), and Mr. Fairclough (Independent Non-Executive Director).