– UK, London – Independent Oil and Gas plc (AIM: IOG.L), the development and production focused oil and gas company, announces the following Board and senior management appointments and changes effective 20th March 2017.
IOG Board and senior management team significantly strengthened through the appointment of:
- Andrew Hockey joins the board as Deputy Chief Executive. 35 years’ experience in the oil and gas industry most recently with Fairfield Energy and Sound Energy. Led the early development of Clipper South, a successful SNS producing gas field which is analogous to IOG’s Vulcan satellites development
- Hywel John joins the board as Chief Financial Officer. Previously CEO of Bayfield Energy, CFO of Candax Energy and senior executive at Burren Energy
- The Right Honourable Charles Hendry appointed Non-Executive Director as a nominee of the Company’s major stakeholder, London Oil & Gas Limited, a major investor in IOG. Minister of State for Energy between May 2010 and September 2012
- David Peattie resigns from the Board, with immediate effect, as a consequence of his appointment as Chief Executive of the Nuclear Decommissioning Authority
- Mark Routh, IOG’s Chief Executive Officer, is appointed Chairman on an interim basis
- Peter Young leaves the board and takes up a new role as Head of Business Origination. Strong track record in business origination, M&A and Finance
- Graham Cox joins as SNS Project Manager. Previously Project Manager on the Clipper South Development
Mark Routh, CEO of IOG, commented: “We are delighted to announce the new additions to our Board and senior management team as the Company enters its next stage of growth. Charles, Andrew, Hywel and Graham all have outstanding track records and deep sector knowledge and it reflects the inherent strength of our business and excellent portfolio of assets that we can attract individuals of their calibre.
“Andrew successfully led the development of Clipper South, a successful SNS producing gas field which we believe has certain similarities in discovery, geology and production to IOG’s Vulcan satellites development. His operational and development execution capabilities will be of huge benefit to the Company. Graham worked alongside Andrew at Clipper South and we are excited to be welcoming him to the operational team.
“Hywel’s wide ranging financial and commercial capabilities and in-depth knowledge of the oil and gas industry and investment community will be of considerable significance to the Company as we continue to develop and grow.
“Charles joins the Company at an exciting stage of our development and his deep knowledge and experience of the sector will be invaluable to the Board and management team.
“Peter’s move to Head of Business Origination is a natural progression given his track record leading the Company’s M&A activity to date and he remains committed as a member of the senior management team and significant shareholder to the continued success of IOG. The Company has long been committed to balancing its portfolio and to that end considers that buying a producing asset is a key business driver and Peter being able to focus more fully on this activity should be hugely beneficial for IOG.
“We are confident that these changes positions IOG strongly for the future as we look to become a leading North Sea production company.”
About Andrew Hockey
Having worked in the industry for 35 years, Andrew Hockey has significant sector experience. He has a technical background with a degree in geology from Oxford University and a Master’s Degree in petroleum geology from Imperial College London. Until the end of 2015 Andrew was General Manager of Business Developmentat UKCS oil and gas exploration and production company Fairfield Energy Limited which he helped to found in 2005. Andrew led the team to acquire Clipper South as an undeveloped discovery from Shell and Esso and then subsequently managed its development via farm down and funding through to first gas in 2012. Andrew is now a non-executive director of Fairfield Energy and a founder of its parent company, Decom Energy Limited. Andrew has also served on the board of AIM-listed Sound Energy plc, an upstream company with onshore interests in Italy and Morocco, where he was a Non-Executive Director from 2011-2015 and Chairman from 2012-2014.
About Hywel John
Joining as Chief Finance Officer is Hywel John who has 30 years of experience in the industry. He is a qualified chartered accountant with significant public company board level experience having served as CEO of Bayfield Energy, CFO of Candax Energy, a TSX listed company and Company Secretary / Legal and Commercial Director at Burren Energy.
About Charles Hendry
Charles Hendry was Minister of State for Energy from May 2010 until September 2012. Since leaving ministerial office he has undertaken a wide range of roles, including as President of the British Institute of Energy Economics, chair of the Forewind Consortium from 2013-2015, and in 2016 he was appointed by the UK Government to lead a review into the strategic case for tidal lagoons and their role in the UK energy mix. Charles Hendry is a nominee of London Oil and Gas Limited, a committed funding partner of IOG.
About Graham Cox
Graham Cox has 32 years’ experience in oil and gas having worked on several large developments. Graham was the Clipper South project manager and was instrumental in establishing the design and operational basis for the Clipper South offshore platform. At the point of sale to RWE he was transferred with the asset where he became the engineering manager through all phases of engineering and project completion.
About Independent Oil and Gas:
IOG is an oil and gas company with established assets in the UK North Sea. The company’s strategy is to deliver near term development and production assets in North West Europe, through its extensive technical and commercial expertise, whilst maintaining some exposure to exploration upside. The company is looking to grow both organically and through acquisition.
All IOG’s licences are owned 100% and operated by IOG.
For more information : http://www.independentoilandgas.com
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