Pennpetro Energy PLC announced that Mr. David Lenigas has joined the Board as a Director and Executive Chairman with immediate effect. Mr. Olof Rapp will remain on the Board as a Non-Executive Independent Director. Mr. Lenigas is a mining engineer with extensive senior corporate experience across stock exchanges in the UK, Australia, Canada, and South Africa.

He has been Chairman of various petroleum focused exploration and development companies with operations in Spain, UK, Trinidad and the USA. His corporate and operational experience will greatly assist the Company as it moves towards its goals of becoming an oil producer. Presently, Mr. Lenigas is Executive Chairman of Riversgold Ltd. and Rincon Resources Ltd, both listed on the Australian Stock Exchange and an executive director of Odessa Minerals Ltd. In the previous five years, Mr. Lenigas has been on the boards of the following public listed companies: Macarthur Minerals Ltd, Doriemus Plc, Elixxer Ltd, AfriAg Global Plc, Artemis Resources Ltd, Auroch Minerals Ltd, Southern Hemisphere Mining Ltd, Clancy Exploration Ltd, Hampton Bay Capital Inc, Future Farm Technologies, Generation Alpha Inc, and NQ Minerals Plc (in liquidation 2022), Anglo African Agriculture Plc.