ERHC Energy Incorporated, a publicly traded American company, has accepted the resignation of Mr. Leslie Blair from his position as non-executive director to concentrate on his position as Chief Executive Officer (CEO) of Eland Oil & Gas Plc and to protect against potential conflicts of interest.
Eland Oil & Gas recently acquired an interest in Nigerian oil block from Shell Petroleum Development Company (SPDC). ERHC Energy said in a statement that its board had accepted Blair's resignation and has begun the process of identifying a successor.
"ERHC is grateful for Mr. Blair's significant contributions to ERHC's successes during the past 30 months and we wish him good luck in Eland and other endeavors," said ERHC President and CEO Peter Ntephe, who also serves on the Board of Directors.
"I sincerely regret having to resign at this exciting time in ERHC's growth; however, it has become increasingly imperative that I do so to comply with various requirements in regard to my position as CEO of Eland Oil & Gas plc and to avoid potential conflicts of interest, particularly in the light of ERHC's business development plans," said Blair.
"I re-affirm my ongoing support for ERHC's recently launched rights issue and I commit that I will participate personally, as an existing shareholder in ERHC," he added.