International Petroleum: Director Resignation
International Petroleum Limited announces that Mr Vladimir Mangazeev resigned as a non-executive director yesterday with immediate effect.Earlier this year, in order to minimise cash outflows, the Company temporarily ceased its oil and gas exploration and production activities in Russia. Since the Company has not been utilising Mr Mangazeev’s Russian oil and gas expertise recently, he has resigned from the Company’s board of directors.
“I would like to thank Mr Vladimir Mangazeev for his valued contributions to the Company’s board meetings”, – Tony Sage, Non-Executive Chairman