Enterprise Oil Appoints New Chief Executive

Enterprise Oil has announced that it has appointed Sam Laidlaw, age 45, as Chief Executive. He will succeed Pierre Jungels, 58 next February, who will be retiring.

Mr Laidlaw, who will take up his position with effect November 1, 2001, was most recently President and Chief Operating Officer of Amerada Hess Corp.

Sir Graham Hearne, Chairman, commented: 'I am delighted that Sam Laidlaw will be joining Enterprise. I am confident that Sam's considerable experience at Amerada Hess of running a worldwide E&P business, coupled with his invaluable knowledge of the independent sector, will enable him to meet the challenges facing the company over the next 5-10 years. I would also like to thank Pierre for his dedication since 1997, as he guided the company through the difficult period of low oil prices to its current strong financial position. He leaves with the best wishes of the Board for the future.'

Mr. Laidlaw said: 'This is a wonderful opportunity at a great company. I am very excited at the prospect of taking Enterprise forward into the next stage of its development.'

Mr Laidlaw trained as an attorney and is an INSEAD MBA. He joined Amerada Hess in 1981, and during the 1980s he was instrumental in building the company's North Sea business into a position where it produced over 250,000 barrels of oil equivalent per day. More recently, he led the corporate restructuring of the group, including a major reorganization of its US Gulf of Mexico deepwater business and the development of its international position in several areas including South East Asia, North and West Africa, and South America.


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