Top Deck Changes at Hurricane Energy
Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that Non-executive Chairman, John Hogan, has advised the Company of his intention to step down from the Board upon completion of a three year term of office in March of this year. The Company announced that Dr Robert Arnott has agreed to join the Board as a director and non-executive Chairman. The Board changes will be effective on 1 March 2016.
Dr Arnott has spent over three decades in the oil and gas industry. During his career, which began at Shell International, he has held the role of Chairman at each of Petroceltic International plc, Global Petroleum Limited and Oyster Petroleum Limited and non-executive directorships at Rocksource ASA and, until recently, Core Energy AS, an oil and gas company focused on the Norwegian continental shelf. Dr Arnott was a director of Spring Energy AS and is currently Chairman of Independent Oil Tools AS, an international oil services business.
In addition, Dr Arnott spent ten years in investment banking, most recently at Morgan Stanley Dean Witter and Goldman Sachs International, and is a Research Associate at the Oxford Institute for Energy Studies.
Dr Robert Trice, Chief Executive of Hurricane Energy, commented: "I am delighted that we have attracted a Chairman of such high calibre to Hurricane. This is an extremely important time for the Company as we continue to progress our ongoing discussions aimed at achieving first oil on Lancaster. I would like to thank John for his valuable contributions and advice over the last three years and wish him all the best for his future endeavours."
Dr Arnott commented: "I am delighted to be joining Hurricane at such an exciting time for the business, as it continues to progress the farm-out of its world class Lancaster discovery, the biggest find on the UK Continental Shelf in over a decade. Robert and his team have demonstrated their ability to flow oil at commercial rates and I am looking forward to working with them to develop the field and make Lancaster a key part of the UK oil industry's future."
Save for the information disclosed below, there are no further disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the appointment of Dr Arnott.
