Horizon Oil Limited Chairman to Retire

Australia’s Horizon Oil Limited announced Tuesday that its chairman, Fraser Ainsworth, will retire from the board at the conclusion of the company’s annual general meeting Nov. 20.

Ainsworth served as the chairman of the Horizon Oil board since April 2002. Under his leadership, the company’s portfolio evolved from a spread of non-producing exploration ventures to material interests in two producing fields in New Zealand and China and a large gas/condensate play in Papua New Guinea, which is currently under development. John Humphrey will take over the role of chairman upon Ainsworth’s departure, and the company is expected to recruit two new non-executive directors in the near future.

Commenting on his departure, Ainsworth said in a company statement:

“It has been a great privilege to chair one of Australia’s leading mid-cap oil and gas exploration, development and production companies and work alongside a fine management team and board. I believe that it is in shareholders’ interests for board renewal to take place, by way of an orderly process. I will hand chairmanship over to Mr John Humphrey following the annual general meeting. It is intended that two new non-executive directors will be appointed to the board during the next twelve months to replace John and I. It is also intended that John will then retire at the 2016 annual general meeting or soon after.”



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  First Workers Complete New Industry Tr... (Mar 29)
 -  Mexico, UK Strengthen Ties with 5-Day ... (Mar 29)
 -  Sparrows Group Teams in Australia to D... (Mar 28)
 -  INPEX to Reorganize Natural Gas Busine... (Mar 28)
 -  Scottish Offshore Service Provider Pra... (Mar 28)


Most Popular Articles

From the Career Center
Jobs that may interest you
EXPEDITOR - Client Representative / Third Party
Expertise: Client Representative|Document Control|QA / QC / Inspection
Location: Jacksonville, FL
 
Administrative Assistant
Expertise: Secretarial or Administrative
Location: Moab, UT
 
United States Odessa: Service Manager
Expertise: Engineering Manager
Location: Odessa, TX
 
search for more jobs

Brent Crude Oil : $51.33/BBL 1.14%
Light Crude Oil : $48.37/BBL 1.34%
Natural Gas : $3.1/MMBtu 1.63%
Updated in last 24 hours