Drillsearch Appoints Philip Bainbridge as Board Director

Drillsearch Energy Limited announced it is expanding its Board of Directors with the appointment of Philip Bainbridge as a Non-Executive Director, with immediate effect.

Bainbridge is a chartered engineer with a distinguished career in the oil and gas industry including senior international management positions with Oil Search and BP Group. His appointment is the result of an extensive international search.

Drillsearch has enjoyed considerable growth over the recent years, which has accelerated in the past 12 months and is expected to continue. Drillsearch was admitted into the ASX 200 Index in June 2012, has experienced rapid growth in operations and has accordingly strengthened its technical and operational capability with the addition of a number of senior employees, and is now operating from a number of offices. The Company has adopted an organizational structure capable of further growth in exploration, development and production activities.

This growth, coupled with extensive corporate activity, triggered the Board to conduct an extensive review of its governance practices, board performance, senior management capabilities and remuneration policies. One outcome of this review was the confirmation of the need to expand the Board and this has now been completed successfully.

The new Board comprises Jim McKerlie (Independent Chair), Brad Lingo (Managing Director), Fiona Robertson (Independent Non-Executive Director), Ross Wecker (Independent Non-Executive Director), Phil Bainbridge (Independent Non-Executive Director) and Asia-based BK Choo (Independent Non-Executive Director).

Chairman, Jim McKerlie said, “Drillsearch has a well-balanced and diverse Board. As we continue on our growth strategy, we need to ensure our Board has both the capacity and capability to achieve our objectives. Phil Bainbridge is an exceptional oil and gas career executive who brings with him a strong skill set which will bolster the Board’s technical and operational skill set. At Drillsearch we believe that Board renewal is a vital process that we will continue to assess on an ongoing basis.”


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