New Zealand Oil & Gas Chairman Mr Rodger Finlay has announced his immediate
resignation from the Board of Directors.
He has served on the Board for six years and as Chairman since January 2016.
"OG Oil & Gas has received over 50 per cent acceptances and Overseas
Investment Office approval for its partial takeover offer. This provides an
ideal time to refresh the company''s leadership.
"New Zealand Oil & Gas is entering an exciting new phase of acquisition and
exploration, which will require new technical and industry-specific
governance skills.
"I am proud to leave the company extremely well managed, with live
exploration and acquisition targets identified and sufficient capital to
execute the immediate strategy."
Chief executive Andrew Jefferies thanked Mr Finlay for his service.
"Rodger Finlay has led the company through a challenging time of reduced
costs, a capital return and the restoration of dividends, while oil prices
have been through a deep decline. He leaves the company with its sails
trimmed for the conditions and capabilities that will see it grow and
flourish under its new majority shareholder."
Director Alastair McGregor, who is ceo of OG Oil & Gas said, "Since joining
the Board nearly six years ago Roger has played a critical role in guiding
New Zealand Oil & Gas to what it is today. We would like to wish Roger the
very best for the future."
John Pagani
External Relations Manager
+64 21 570 872
End CA:00311944 For:NZO Type:GENERAL Time:2017-12-14 10:26:13