NZO
05/10/2015 16:39
MEETING
NOT PRICE SENSITIVE
REL: 1639 HRS New Zealand Oil and Gas Limited
MEETING: NZO: Diary Note: New Zealand Oil & Gas Annual Meeting
The New Zealand Oil & Gas annual meeting will be held in the Matiu Room of Te
Wharewaka Function Centre, Odlins Square, Jervois Quay, Wellington,
commencing at 10:00am on Thursday, 29 October 2015.
The annual meeting will be followed by investor briefings in Christchurch and
Dunedin. A notice of meeting is available at www.nzog.today
Directors
Two directors, Mr Rodger Finlay and Mr Mark Tume, will retire by rotation at
the annual meeting. Both are offering themselves for re-election. No other
director nominations have been received.
Chief Executive Andrew Knight, who is the longest-serving board member, will
retire from his board role at the date of the annual meeting. His position as
CEO is unaffected.
He first joined the New Zealand Oil & Gas board in January 2008.
"Our board review process this year highlighted that if the chief executive
is not also managing director, a clearer divide would exist between strategy
and execution," Andrew Knight said.
Chairman Peter Griffiths says the New Zealand Oil & Gas Board is looking for
best practice in corporate governance.
"Andrew Knight is doing an excellent job as chief executive with full Board
support as the company positions for ongoing challenges affecting the entire
industry. The company is performing against its peers and firmly focused on a
strategy of acquiring under-valued production, optimising existing assets,
tightly controlling costs and pulling back on exploration expenditure to
adjust to risk appetites that suit the current oil price."
New Zealand Oil & Gas is listed on the NZX and ASX, and has production from
five assets located in New Zealand, Indonesia, and the United States. In the
first half of 2015 New Zealand Oil & Gas completed the acquisition of a
controlling 48.1 per cent interest in ASX- listed Cue Energy Resurces, and in
July announced prospective volumes in the substantial Barque prospect East of
North Otago in New Zealand's South Island.
John Pagani
External Relations Manager
+64 21 570 872
End CA:00271292 For:NZO Type:MEETING Time:2015-10-05 16:39:41
