Ann: AGM Chairman's Address, page-153

Dr Stuart Lake might very well be in his late 60's and has stepped down from a demanding position, he also holds a significant stake in the company and has already expressed his willingness to remain a shareholder. I am unsure as to why anyone would take this news as negative. Any shareholder has an opinion on how the company needs to be run and for Dr Lake to relinquish such an influential position whilst still maintain his status as one of the major shareholder, is absolutely profound. His parting gift is to confirm presents of Hydrocarbons and this coming from a man with 90% success rate half of which in Wild cat territory in Africa. Lastly I have noticed that he hangs around ED quite a lot, makes me wonder if he advices him and if so does he maintain this position as I would think it's just as Influential.