Jacka resources, a company with core focus is in North Africa, West African Transform Margin and East Africa rift basins has announced that the managing director and the chief financial officer have tendered their resignation effective in September and October respectively.
The chief financial officer Richard Aden’s resignation takes effect from 30th September same time as Managing Director Bob Cassie who will leave on 1st October.
According to the company the board’s restructure is in tandem with the company’s plan to undertake an overall review of its operations as part of the recently completed funding initiatives.
According to the chairman of the board of directors at Jackal Resources Max Cozijin in a statement the board is currently continuing with its strategic review of existing projects, funding requirements and staffing structure after which the company will assess its immediate executive staffing requirements including the replacement of the managing director.
In May this year Jacka Resources announced that it was conducting a board restructuring with the goal of aligning the skill sets of the board to challenges faced the company whilst also reducing costs.
As part of the restructuring the board was reduced to only three directors where Stephen Brockhurst and Brett Smith resigned from their positions in the board and Cizijin and James Robinson were appointed as directors.
Stephen Brockhurst was later appointed to company secretary.
Jacka Resources has a 15 percent equity in the Bargou Block in Tunisia, 5 percent net revenue interest in the Aje oil and Gas field in Nigeria, 100 percent equity and operator of Ruhuhu basin in Tanzania and retains an option to acquire a 5% participating interest in the Odewayne Block in Somaliland after farming-out to Sterling Energy in May.