Victoria Oil & Gas appoints new chief executive from Indus Gas

EXPLORER Victoria Oil & Gas is to announce John Scott as its new chief executive this morning, according to a source close to the company.

Scott was previously finance director of Indus Gas, an exploration and development company with assets in India.

The incoming chief executive, who is appointed with immediate effect, has operational experience in the downstream gas sector and corporate finance.

He has previously been involved with West African-focused Exile Resources, which was bought by Nigerian Oando in 2011.

Earlier this month, the junior stockmarket explorer raised £23.4m in an oversubscribed share placing to fund the roll-out of its downstream strategy at its Cameroon gas project.

The explorer said then it was planning to strengthen the board, including appointing a new chief executive.

Victoria Oil & Gas chairman Kevin Foo will remain in his position, but step away from day-to-day activities following Scott’s appointment.

Shares closed down 0.3 per cent yesterday.

Indus announced Scott’s resignation and said it would add more board members, given the growth of the firm.