Austral Pacific Appoints New Director
Austral Pacific Energy Ltd. has appointed Peter Hazledine of Wellington, New Zealand, as a new director of the company, effective from Jan. 1, 2008.
His addition will strengthen the board’s experience in the petroleum production sector. Peter Hazledine is a New Zealander with 35 years experience in the international E&P industry. He spent 30 years with the Royal/Dutch Shell Group in Africa, the Middle East, New Zealand, Europe and South America. He worked initially as a petrophysicist and production technologist, moving into operations engineering and management. He left Shell in 2004, to take up a senior management position with Vector Gas (formerly NGC), the principal gas distributor in the New Zealand market. He is leaving this role to pursue a more diverse portfolio of opportunities.
In line with its standard directors remuneration policy, the company will grant Hazledine 60,000 incentive options upon appointment, exercisable for five years, at market closing price, one-third vesting on each of 12, 18 and 24 months after issue.
Austral Pacific is a listed independent oil and gas exploration and production company with an interest in 13 exploration and production permits totaling more than 2.6 million acres in onshore New Zealand and Papua New Guinea.