Victoria Petroleum N.L. announces the following changes to the Board of Directors.
Mr Denis Patten, Mr Alex Bajada and Mr Anthony Short have been appointed to the Board as non-executive directors and Mr Timothy Hoops has stepped down. Mr Robert Pett, and Mr Bernard Wrixon remain on the Board as nonexecutive directors and Mr John Kopcheff as Managing Director.
This follows discussions between Queensland Gas Company Limited, Odin Energy Ltd, and the Victoria Petroleum N.L. board to align the interests of major shareholders and to ensure a stable and united board with the aim of advancing the interests of all Victoria Petroleum N.L. shareholders and maximising the value of its Coal Seam Gas and Cooper Basin assets.
Mr Patten is a former founding director of Queensland Gas Company Limited, who retired from the Board in 2007. Mr Patten has had over 36 years’ international experience in the engineering and petroleum industries. He has had extensive experience in coal seam gas exploration, development and production. Mr Patten is expected to play a key role in the future development of the Company’s coal seam gas assets in Queensland and has been appointed nonexecutive Chairman of the Company.
Mr Bajada has many years’ experience in the corporate sector and has been involved in the management of public companies for many years, fulfilling the roles of chairman and director. He is chairman of Odin Energy Ltd, Advance Energy Ltd and AXG Mining Limited and managing director of Excalibur Mining Limited. He has been a trustee director of the WA Local Government Superannuation Plan, which has $1.3 billion of member funds under management, for 15 years.
Mr Short has over 16 years’ experience in the administration and management of listed public companies. He has extensive experience at board level in the management and formation of public companies in the areas of gold mining, and oil and gas. He has held the position of Chairman, CFO and Managing Director in a number of listed public companies and has also acted as corporate advisor on a number of public company listings. He was a director of Amadeus Energy Ltd and is currently managing director of Advance Energy Limited and a director of Regal Resources Limited, Palace Resources Limited and Odin Energy Ltd.
Victoria Petroleum N.L. is confident that with its strong asset base, strategic plans and the energy and experience of its newly constituted board, the prospects for the Company and its shareholders are bright.