New Age (African Global Energy) Limited (“New Age”) and New Age LNG Limited (“NALNG”), a sister company of New Age, confirm the following appointment and positions: 

Dave Loran is appointed as Chief Executive Officer of NALNG, effective immediately. With an extensive track record in LNG and the Exploration & Production business, Dave brings a wealth of experience to this position, and has been instrumental in the technical development of the New Age portfolio in Congo Brazzaville and Cameroon and previously led Marathon’s operations in Russia. 

David Stoopin will continue in his role as Group Chief Executive Officer of New Age Limited on a permanent basis. David joined New Age in 2008 and has played a key part in the development of the company over the last decade. He serves as a Director of New Age, and as its CEO, will continue to lead the company strategically and operationally. 

Pascal Nicodeme continues in his role as Chief Financial Officer, reporting to David Stoopin, and serves as a Director of New Age. 

Tim Summers, Chairman of New Age, said:  
“I am delighted to announce today’s appointments and look forward to continuing to work with David and Pascal, as well as Dave in this new role as CEO of NALNG. We now have an outstanding executive management team securely in place with the capability to explore, appraise, develop and bring into production the best prospects across our suite of African assets. This team has the ability to deliver large, complex projects, and positions the New Age Group for its next stage of development.”  

Sheng Ding, Chairman, NALNG, said:  
“We are very pleased to have secured the services of someone of the calibre of Dave Loran as CEO of NALNG. Dave’s experience in the LNG business and existing relationships with our partners will be critical to the success of NALNG.”