David Lenigas leaves boards of all his Aim companies

Shares in his African logistics firm AfriAg slumped 0.06p, or 22 per cent, to 0.195p

David Lenigas is known for his penchant for companies on the FTSE AIM

David Lenigas, the colourful Australian entrepreneur who claimed to have found “multiple billions of barrels” of oil beneath Gatwick airport, has quit the boards of his five remaining Aim companies.

Mr Lenigas, known for his penchant for companies on the junior market, said on Twitter: “I am now off every board I was on on Aim. Don’t intend to ever go back on another one. Now I can buy shares any day I like.”

Shares in his African logistics firm AfriAg slumped 0.06p, or 22 per cent, to 0.195p, while the Mexican lithium explorer Rare Earth Minerals fell 0.06p or 8 per cent to 0.62p.

His resignations also hit Bacanora Minerals and Inspirit Energy, with Evocutis the only stock not to fall.

He remains executive chairman of LeniGas Cuba, an ISDX-listed venture which has crashed to just 1.375p after floating at 5p last month.

Mr Lenigas stepped down as chairman of UK Oil & Gas in July, explaining that it was usual for him to hand over control once companies “have reached a statement of maturity”. He quit LGO Energy, formerly known as Leni Gas & Oil, in 2014. A year on, the Trinidad oil firm is looking for buyers after running into funding issues.