dockers supporter, page-7

Bacci - what part of management (Troy Hayden) and Board renewal do you not understand.
The past is history, try looking forward and not back.
You don't hold shares, so why do you whinge ?


Board changes align refocused strategy and succession planning with flexibility for future growth:

Chairman Neale Taylor and Peter Lane to retire as Directors
Douglas Bailey to become Chairman
New Director to be appointed
Tap Oil Limited (ASX Code: TAP) (Tap or the Company) is pleased to report a number of Board changes that will deliver Board renewal and succession planning as well as flexibility for future growth. These changes do not alter the Company’s strategy and plans, which have been refocused under the executive leadership of Tap’s Managing Director/CEO, Mr Troy Hayden.

Key elements to this Board renewal are described below:

Dr Neale Taylor, Tap’s current Chairman, will retire on 19 March 2012. Neale has been a Non-Executive Director of the Company since 2002 and Chairman since 2006.

Mr Douglas Bailey will take up the role of Chairman on 20 March 2012. Doug joined Tap’s Board as a Non-Executive Director in 2009 and has a strong background in financial and executive management. He was Managing Director/CEO of Ashton Mining (Ashton) for three years following eight years as Ashton's CFO, and CFO at Woodside Petroleum Limited for three years. He is a Non-Executive Director of St Barbara Limited. Doug is based in Perth.

Mr Peter Lane is a founding Director of Tap and will retire from the Board at its AGM in May 2012. Peter has made a significant contribution to the Company over his 17 years of service.

Mr Michael Sandy will continue as a Non-Executive Director of Tap. Mike has an exploration and commercial background, which more recently has been focused in the small market cap sector of the industry. Mike is the Managing Director/CEO of Burleson Energy Limited and a Non-Executive Director of ASX listed companies Caspian Oil & Gas Limited and Hot Rocks Limited.

Tap has commenced a search for a new Non-Executive Director. An announcement will be made once an appointment has been made. This will bring the number of Non-Executive Directors on the Board to three, which is fitting for a company of Tap’s current size.