Lonestar Resources Limited
(ASX:LNR) has announced a share consolidation plan and a new director for the board.
Mr John Pinkerton has held executive and board positions with Range Resources and Snyder Oil Corporation and will consult on strategic issues, acquisitions and corporate development.
Lonestar Chairman Bernard Lambilliotte said that Mr Pinkerton’s industry experience would benefit Lonestar’s growth strategy particularly in the Eagle Ford play.
Lonestar also plans to seek approval from its shareholders to consolidate 1 new share for 50 existing shares and will present this resolution at the next AGM.
Lonestar Resources made a full year net profit of $44.5 million for the 2014 calendar year.
