appointment of new chief executive, page-35

words from the great man Hardman appoints new CEO
Source: PERTH, Jan 19 AAP
Published: January 19 2005, 8:00PM

Newly appointed chief executive of Hardman Resources Ltd, Simon Potter, said today he hoped to bring rigor to the oil and gas junior's financial and operational performance.

Mr Potter replaces Ted Ellyard, who stepped down in October last year for personal reasons, as CEO and managing director of Hardman.

He brings with him a broad range of oil and gas operating experience, most recently heading a joint venture operation between BP and Alfa Group in Russia. advertisement

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"One of the issues is that the industry is littered with companies that have tried to move from exploration into development and operations," Mr Potter said from London.

"What I would hope to be able to bring with my BP experience is a certain rigor and discipline about financial performance and operational performance."

Hardman's main assets are stakes of around 20 per cent in acreage off the coast of Mauritania operated by Woodside Petroleum Ltd, including the Chinguetti oil development, where production is on track to begin next year.

Mr Potter said his broad joint venture experience, having spent the last 10 years as a partner and CEO or president of joint ventures, would stand him in good stead.

He also has direct experience of Woodside from his days as commercial manager for BP in Melbourne during the 1990s.

"Oil prices are at an unprecedented high, technology progresses every day, which allows access to new opportunities, and of course geopolitics is opening other opportunities," Mr Potter said.

"We're hoping there's a rich vein of opportunity, but Hardman's been tapping into that for quite a long time."

Mr Potter will start work at company headquarters in Perth on Monday.

Hardman shares closed one cent weaker at $1.70.

By Greg Tubby