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Hurricane Energy PLC - Appointment of Non-Executive Director

RNS Number : 5683X
Hurricane Energy PLC
20 December 2019
 

20 December 2019

Hurricane Energy plc

("Hurricane" or the "Company")

 

Appointment of Non-Executive Director

 

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces the appointment of Ms Beverley Smith as a non-executive director of the Company with immediate effect. 

 

Ms Smith is a chartered geologist and an accomplished business leader with 30 years' experience in the upstream oil and gas sector. During a successful international career with BG Group, she delivered a portfolio of strategic, commercial, project and people leadership achievements, most recently as Vice President Exploration & Growth for Europe. Ms Smith has a proven track record of strengthening risk management capabilities, delivering improved safety frameworks and ensuring accountability and transparency through the implementation of robust processes and controls. Her work in the voluntary sector includes involvement with the Petroleum Exploration Society of Great Britain, where she will be President of the 2020 Executive Council, and as a Trustee for the Etches Collection at the Kimmeridge Trust.

 

Following Ms Smith's appointment, half of Hurricane's board of directors (excluding the chairman) are independent non-executive directors, in compliance with the Financial Reporting Council's UK Corporate Governance Code 2018.

 

Steven McTiernan, Chairman of Hurricane, commented:

 

"I'm delighted to welcome Beverley to Hurricane Energy. Beverley's distinguished career in oil and gas exploration and development brings highly relevant technical, strategic and management experience which will significantly enhance the capabilities of the board. These skills will be invaluable as Hurricane progresses its Rona Ridge assets towards full field development."

 

Contacts: 

Hurricane Energy plc

Dr Robert Trice, Chief Executive Officer

Alistair Stobie, Chief Financial Officer

 

+44 (0)1483 862 820

Stifel Nicolaus Europe Limited

Nominated Adviser & Joint Corporate Broker

Callum Stewart / Nicholas Rhodes / Ashton Clanfield

 

+44 (0)20 7710 7600

Morgan Stanley & Co. International plc

Joint Corporate Broker

Andrew Foster / Tom Perry / Alex Smart

 

+44 (0)20 7425 8000

Vigo Communications

Public Relations

Patrick d'Ancona / Ben Simons

[email protected]

+44 (0)20 7390 0230

 

AIM Schedule 2(g) Disclosures

 

Beverley Ann Smith, aged 54, has held the following directorships and/or partnerships in the past five years:

Current Directorships/Partnerships

Previous Directorships/Partnerships

Director, BAS Advisory Limited

POWERful Women

Trustee, The Kimmeridge Trust (The Etches Collection)

Input Diabetes

The Petroleum Exploration Society of Great Britain


 

There are no further disclosures required to be made pursuant to Schedule 2 paragraph (g) of the AIM Rules.

 

About Hurricane

 

Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf.

 

The Lancaster field (100%) is the UK's first producing basement field. Hurricane is pursuing a phased development of Lancaster, starting with an Early Production System consisting of two wells tied-back to the Aoka Mizu FPSO. Hydrocarbons were introduced to the FPSO system on 11 May 2019 and the first oil milestone was achieved on 4 June 2019.

 

In September 2018, Spirit Energy farmed-in to 50% of the Lincoln and Warwick assets, committing to a phased work programme targeting sanction of an initial stage of full field development.

 

Inside Information

 

This announcement contains inside information as stipulated under the market abuse regulation (EU no. 596/2014). Upon the publication of this announcement via regulatory information service this inside information is now considered to be in the public domain. 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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