Range Resources' Board, Management Moving Forward
Following recent media speculation, Range Resources Limited would like to clarify its Board and Management structure moving forward.
The Company has advised that Liban Bogor has resigned as a Director of the Company to work exclusively for the Puntland Government on various initiatives. Bogor's move was done in consultation with Range and the Government and is seen as a positive, taking into account all stakeholder interests in Puntland.
As the operator of the Joint Venture, Africa Oil Corp. has primary responsibility in dealing with the Puntland Government in respect of the two granted onshore concession areas (Nogal and Dharoor). The Directors of
Range remain pleased with the Joint Venture arrangements and have confidence in Africa Oil's ability to deliver on the agreed work program and continue the expedited development work achieved to date.
The Board are developing a strategy to realize value from its significant West Australian tenement portfolio. Current Executive Director, Michael Povey will move to a Non Executive position and will be responsible for managing this strategy.
The Board has begun an executive search for a new Managing Director with suitable international oil and gas experience. No further appointments are proposed until the appointment of an appropriate Managing Director.
The Company will shortly release a notice of meeting dealing with various corporate and incentive arrangements moving forward.
- Range Resources Limited to Drill MD 250 Follow-up Well (May 12)
- Europe Based Energy Firms Make Discoveries in Trinidad, Norway (Apr 13)
- Range Warns of Further Streamlining (Sep 30)