Otto Energy Elects New Chief Executive Officer

Otto Energy has announced the appointment of Paul Moore as the Company's new Chief Executive Officer effective July 1, 2009. Paul Moore (50) has extensive experience in the oil and gas industry with 27 years in operating oil and gas companies, including 17 years in executive management roles. Paul has an international track record in oil/gas field developments and in new business growth.

Paul has a Masters of Business Administration from the University of Strathclyde, Scotland. He is a Member of the Society of Petroleum Engineers, Fellow of the AICD and of the Institute of Materials, Minerals and Mining (UK) and is a Chartered Engineer.

Paul commenced his career at Shell where he worked for approximately 9 years on various international petroleum engineering assignments in the North Sea, North Africa, New Zealand and Europe. Since this time Paul has worked in a range of executive management roles with a number of internationally recognised oil and gas companies including:

  • Woodside (3 years) ‐- Executive Vice President Northern & Emerging LNG, Executive Vice President Developments and Director Browse Business Unit
  • Santos (4 years) ‐- Vice President Technical Services & Development Projects, General Manager Western Australia and Manager South Australia Oil; and
  • Fletcher Challenge Energy (10 years) -‐ Pohokura Field Development Manager, Operations & Engineering Manager (Brunei) and Director Maui Development Limited.

Paul brings with him strong executive leadership experience as well as a wealth of international technical and operating skills in both reservoir development and project development.

Paul will replace Alex Parks as Chief Executive Officer. The Board would like to thank Alex for his contribution to the Otto and wishes him all the best with his future endeavours. Paul's remuneration package comprises a balance of fixed salary and performance based incentives.

Paul will receive 7.5 million options ($0.12, 30 June 2014) vesting on July 1, 2010. Paul has also agreed to subscribe for 1.25 million shares in the Company at $0.08 per share (total investment $100,000).

The Board looks forward to Paul Moore's leadership of the Company into a new phase of growth and Development.
 

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