John Teeling has indicated that he wishes to step aside as Chairman of Petrel Resources.
But he said he will remain on as a non-executive director at the oil and gas exploration company.
The company held its AGM today at which David Horgan was appointed Executive Chairman.
Mr Horgan briefed shareholders on the company's projects, including its exploration and development proposals to the Iraqi authorities and its ongoing discussions with Ghanaian and other officials.
The company told shareholders that it is looking forward to accelerating progress with the restoration of normal international business, as the world emerges from the Covid-19 pandemic.
Petrel Resources has projects in Ireland, Iraq and Ghana.
