Suroco Names New President, CEO
Suroco Energy Inc. has announced the appointment of Alastair Hill as President, Chief Executive Officer and a director of the Corporation, subject to approval of the TSX Venture Exchange.
Hill has over 30 years of international oil and gas experience, having held senior strategic and operational leadership positions with several large independent oil companies, most recently as Vice President with the
International Division at Encana Corporation, prior to which he led the business development and operations activities in Africa and the Middle East regions at PanCanadian Energy. Hill has a wide ranging background in
business development and oil and gas exploration across several continents and has been both directly responsible for and associated with oil and gas discoveries in Africa, Southeast Asia, Europe and Canada.
Hill is a registered Professional Geologist of Alberta and a Chartered Geologist of the Geological Society of London. Hill commented, "I am excited about joining Suroco and privileged to be able to work alongside a team of very experienced professionals who have strong knowledge, background and industry contacts in
Latin America, especially Colombia. Our people and our existing balance of assets combined with our active and successful Directors will start us in the right direction and help guide what I believe will be a period with strong growth potential."
Hill takes over from Jeffrey Scott, the founder of the Corporation, who has acted as President and Chief Executive Officer since its inception in 2005. Having managed the Corporation through its early development, the Board of Directors of the Corporation and Scott have determined that the Corporation now requires a fully staffed and dedicated management team to lead it through its next planned stage of growth and development. As President and CEO, Hill will be responsible for leading the Corporation by building upon the strengths of the Corporation's existing assets and generating additional growth and value for its shareholders through the identification and capture of new business opportunities.
Scott, who remains with the Corporation as an active director and will be Chairman of the soon-to-be-formed operating committee of the Corporation, recently commented, "With the close of the acquisition of NCT Corporacion Petrolera Latinoamericana S.L. in April of this year, Suroco acquired a core portfolio of Colombian assets with production which positions the Corporation to accelerate its growth profile. Consequently, the time is right to put in place the key individuals of the management team. I am delighted to be able to say that with Travis Doupe as Chief Financial Officer and Alastair Hill as President and CEO, the management team of the Corporation is now complete."
In addition to the Corporation's initial acquisition referred to above, two new exploration blocks in the Putumayo Basin have been awarded to NCT, now a wholly owned subsidiary of Suroco. Another transaction which will
consolidate and increase Suroco's working interests in these core assets in Colombia is expected to close in the near future.
- Drilling Commenced at Suroco's Pinuna-6 Well (Aug 12)
- Suroco Picks Up Colombian Block (Jul 12)
- New Production to Put Suroco Ahead of Targeted Growth (Feb 08)