The move comes after notices were lodged seeking their removal by the Eddie Smith-led Elcos. The company then nominated Smith and his fellow Impress Ventures director, Doug Jendry, as replacement directors for Carpathian.

When contacted Smith would not be drawn on the make-up of any new board and insisted that the planned 249D meeting would still take place on April 8.

Johnson and Wowesny said their decision to stand down as directors was to avoid incurring any further major legal and associated costs to the company with another general meeting less than five months after a similar attempt was defeated by a clear majority of members at a general meeting.

"Our greatest concern is to protect the interests of Carpathian's shareholders. Ongoing attempts to alter the composition of the board are severely disruptive at both the corporate and operational levels.

"For that reason, Ms Wowesny and I feel that it is in the best interests of all shareholders for us to stand down. Hopefully the shareholders can now see the focus returning to unlocking the value of Carpathian's oil and gas interests," said Johnson.

Johnson and Wowesny will continue under the management contract their private company has with Carpathian and will remain as top ten shareholders in the company.