Karoon Chair Succession

Source: www.gulfoilandgas.com 3/31/2023, Location: South America

Karoon Energy Limited advises that its Chairman, Mr Bruce Phillips, has notified the Company of his intention to retire from the Board at the conclusion of the Annual General Meeting on November 23, 2023.

The Board has appointed Mr Peter Botten AC, CBE as Deputy Chairman with immediate effect. It is intended that Mr Botten will succeed Mr Phillips at the conclusion of the 2023 AGM.

Commenting on his decision, Mr Phillips said:
“It has been immensely satisfying to see Karoon evolve into an entity with a strong board and management team, and an asset base that facilitates growth into the future.

The management team has done an excellent job in delivering safe, reliable, & sustainable production from the Bauna oil field acquisition, a highly successful intervention program to boost its production, a very encouraging drilling program on the Neon oil field, and more recently the delivery of first oil at excellent rates from the development of the Patola oil field.

I believe the time is right for Karoon to enter the next stage of its evolution with a new chairman. In the meantime, I will continue to dedicate my energies to Karoon until retirementin November.”

This announcement was authorised by the Board of Karoon Energy Ltd.

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