Thursday, 16 August 2018

Announcement

GENERAL: NZO: New Directors Join NZO Board

21 Dec 2017 13:11NZX
Three new directors have been appointed to the New Zealand Oil & Gas board
from today.

OG Oil & Gas director, Samuel Kellner, will become chairman of the board.

Another OG Oil & Gas director, Rebecca DeLaet, will also join the board and
chair the Audit Committee.

New Zealand Oil & Gas chief executive Andrew Jefferies also joins the board.

None of the new directors will accept fees for their position.

The company intends to enter into its standard form of indemnity in favour of
the new directors.

The board has determined, under NZX Listing Rules 3.3.2 and 3.3.3, that Mr
Kellner and Ms DeLaet are not independent directors because they are
associates of a Substantial Product Holder, OG Oil & Gas (by virtue of the OG
Oil & Gas conditional interest in acceptances under its partial takeover
offer of New Zealand Oil & Gas). Mr Jefferies is not an independent director
because he is the chief executive of New Zealand Oil & Gas.

BIOGRAPHICAL NOTES
Samuel Kellner has held a variety of senior executive positions with Ofer
Global Group since joining the Group in 1980. He has been deeply involved in
Ofer Global Group''s business lines, with a particular emphasis on offshore
oil and gas, shipping and real estate, and has advised Ofer Global Group
companies on investments in a variety of investment managers, hedge funds and
private equity funds.  Most recently, Mr Kellner served as President of
Global Holdings Group Management (US) Inc where he led the Group''s North
America real estate acquisition, development and financing activities. Mr.
Kellner serves as an Executive Director of the main holding companies for the
Zodiac shipping group and the Omni Offshore Terminals group. Mr Kellner
graduated with a B.A. degree from Hebrew University in Tel Aviv. He has an
MBA from the University of Toronto, and taught at the University of Toronto
while working toward a PhD in Applied Economics.

Rebecca DeLaet has worked for the Ofer Global Group of companies since 1990.
For the last ten years she has overseen the Group''s finance activities,
including debt and equity financing, treasury operations and risk management.
Ms DeLaet was responsible for the initial structuring and capitalisation of
Omni Offshore Terminals'' assets in 1994, when she saw the need to establish
an independent oil and gas arm for the Ofer Global Group.  Since then, she
has been responsible for all of the financing activities for the Omni
organisation. Ms DeLaet has a Masters in Finance and Bachelor of Science from
the Wharton School at the University of Pennsylvania.

John Pagani
External Relations Manager
+64 21 570 872
End CA:00312340 For:NZO    Type:GENERAL    Time:2017-12-21 13:11:43
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