06 Jul 2004 10:20:54 New team to build NIDO Assets
Nido Petroleum Limited A.B.N. 65 086 630 373 Level 3, 41-43 Ord Street West Perth WA 6005 PO Box 1100, West Perth WA 6872 Tel: (08) 9321 2844 Fax: (08) 9321 2544 ASX STATEMENT AND MEDIA RELEASE July 6th, 2004 NEW TEAM TO BUILD NIDO ASSETS Nido Petroleum Limited (ASX: NDO) announced today the appointment of a new management team to lead it towards becoming a strong junior oil and gas company. Over the past two years, Nido has identified the upside in its existing asset base of production and exploitation assets in the Philippines. The change from an exploration focus to a production focus has lead to the appointment of the new managing director who, along with two new board members, has the right skills and experience to allow the company to realise its potential. Initially the focus will be the producing Nido and Matinloc fields and the development of the Galoc Field in the Northwest Palawan Basin, offshore Philippines. . Mr David Whitby will be appointed Managing Director. He has 23 years experience in the oil industry including roles as Managing Director of Gulf (Australia) Resources Ltd, operating the Jabiru and Challis oilfields, Vice President Corporate Development Gulf Indonesia Resources Ltd and Vice President of Heavy Oil for Husky Oil in Canada with particular success in developing greenfield gas projects in Indonesia, including most lately Project Director of the West Java Gas Project for ConocoPhillips. Messrs Gregor Dixon and James Brown will be appointed non-executive directors. Mr Dixon, a petroleum geologist, is Resident Director of Unocal South Australia Pty Ltd and Unocal Western Australia Pty Ltd and former Vice President, Business Expansion Projects of Unocal South Asean Ltd. Mr Brown is an energy consultant with over 23 years of experience in the Asia-Pacific finance and energy industries. He was formerly a First Vice President of Merrill Lynch and head of Merrill Lynch’s energy research group, based in Sydney and Singapore. His prior work experience includes appointments with Morgan Stanley, Baring Securities and ExxonMobil. Mr Charles Morgan will remain as Chairman. Mr Whitby said that the combination of new executive strength and great oil and gas assets would create a strong new independent oil and gas company with a highly experienced management team founded on a shareholder-first mentality.
NDO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
