Aradel Holdings Plc appoints Augustine Olorunsola Interim Chairman

Aradel Holdings Plc (NGX:ARADEL) has appointed Mr. Augustine Olorunsola as an Interim Chairman of the Board of Directors or the company, with effect from the 9th of July 2025.

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Prior to his appointment as Interim Chairman, Mr. Olorunsola was a Non-Executive Director the Company.

ARADEL made the appointment known in a regulatory filing on The Nigerian Exchange on Friday.

In the filing seen by Investogist, shareholders pf Aradel Holdings Plc, the Nigerian Exchange Limited and the investing public were notified that the Board of Directors of the Company by way of a Written Resolution dated the 17th of July 2025 passed the following resolutions:

That Mr. Augustine Olorunsola, a Non-Executive Director of the Company, be and is hereby appointed as an Interim Chairman of the Board, with effect from the 9th of July 2025.
That the Company Secretary be and is hereby authorized to notify the regulators of the above appointments and take all necessary actions to give effect to the above resolutions.

Profile

Mr. Augustine Olorunsola

Mr. Olorunsola is a Geology graduate from the University of Ilorin, Kwara State, Nigeria, with over four (4) decades of experience-based knowledge, skills, and expertise in petroleum resource management, notably in policy formulation, implementation, crafting legislation, regulation of opportunity realization, field development, and commercial operations. He served on various companies and agencies of government in Nigeria, Italy, the Netherlands, and the United States of America.

After ten (10) years in petroleum geoscience roles in Agip-ENI, he spent twenty-two (22) years with Shell International in leading positions in corporate planning and economics. He was the Petroleum Engineering Manager for the first major deep offshore development in Nigeria, has
experience with technology deployment in Russia, and hydrocarbon resources management for Sub-Sahara Africa (SSA).

He retired from Shell International as Vice President Commercial Gas Business for SSA thereafter serving as Adviser to two Ministers of Petroleum Resources, later as Director of Petroleum Resources, and subsequently as the technical lead for drafting the Petroleum Industry Bill from 2010 till 2019.

He is a Fellow and Country Chairman of the Energy Institute, Chairman/Chief Executive Officer of Energetikos Limited and holds several non-executive board positions.

About Aradel

Aradel Holdings Plc is a fully integrated energy Group, with interests in multiple oil and gas assets, and its business spanning the upstream, midstream and downstream value chain of the oil and gas industry. Aradel Holdings was incorporated on March 25, 1992 (as the Midas Drilling Fund), changed its name to Niger Delta Exploration and Production Plc in November 1996, assumed its current name in May 2023, and was listed on the main board of the NGX on 14
October 2024.

The Company operates through its subsidiaries and an affiliate company:

Aradel Energy Limited (100%), a wholly owned subsidiary of Aradel Holdings, as well as the Operator of the Ogbele (PML 14), Omerelu (PPL 247), Olo and Olo West Marginal Fields, as well as the OPL 227 joint venture (subject to NUPRC approval).
Established to explore and harness opportunities in the energy industry.
Aradel Gas Limited (100%), the only Nigerian independent Non-JV Gas Supplier to Bonny LNG. Established to leverage investment opportunities in the gas sector. Has 100mmscf/d gas processing facility.
Aradel Investments Limited (100%), a wholly owned subsidiary established to hold and manage the group’s non-oil & gas assets. Established to hold the Company’s nonoil and gas investments.
Aradel Refineries Limited (95%), a 3-train 11kbbl/d independent operating midstream refinery. Produces AGO, DPK, MDO, HFO and Naphtha.
ND Western Limited (41.67%), an independent Nigerian oil and gas exploration and production company comprising four leading industry players with four limited liability companies (being Aradel Energy, Petrolin, First Exploration & Petroleum Development Company, and Waltersmith Petroman Oil) as shareholders.