Corcel PLC has announced significant changes to its executive management team and Board of Directors. Scott Gilbert, an experienced oil and gas investor and executive, will be joining the company as interim CEO and, subject to regulatory checks, will also become an Executive Director. Gilbert brings 15 years of experience in the oil & gas sector, particularly in Sub-Sahara Africa and Latin America. Jennifer Ayers will no longer join the board but will remain as the Company's Exploration Director. The Board will consist of Mr. Karam (Executive Chairman), Mr. Gilbert (interim CEO), Ms. Geraldo (Chief Commercial Offer and MD Angola), Mr. Kabra, Mr. Kohli, Mr. Zhao (Non-Executive Directors), and Mr. Fairclough (Independent Non-Executive Director).

Corcel's Executive Chairman, Antoine Karam, expressed his pleasure at the critical change, stating that Gilbert's arrival will help facilitate the transition of the company and drive it to the next level of development. The company plans to hold investor events in 2024 and looks forward to announcing further advancements at its operations in Angola and M&A activities in Brazil. Interim CEO Scott Gilbert expressed his excitement at joining the team at a pivotal time, emphasizing the company's strong foundation and its potential for significant growth and strategic opportunities in its regions of focus. He also highlighted the company's focus on enhancing its portfolio, sustainable practices, and strategic partnerships to maximize value for stakeholders.