Horizon Oil Ltd (ASX:HZN) (OTCMKTS:HZNFF) is pleased to advise that Mr Greg Bittar has today been appointed as non-executive director of the Company.

Mr Bittar has extensive experience in public and private markets mergers and acquisitions, capital markets and strategic advisory assignments across a range of sectors including general industrials, metals and mining, mining services and energy. He is currently Chairman of Millennium Minerals Limited (ASX:MOY) and Trek Metals Limited (ASX:TKM) and a non-executive director of ECM Limited.

Mr Bittar has a Bachelor Economics and Bachelor of Laws (University of Sydney) and Masters in Finance (London Business School), and has over 15 years investment banking and resource sector experience in Australia and overseas - having worked for Bankers Trust, Baring Brothers Burrows and following the completion of his Masters in Finance in 2000, he joined Morgan Stanley (NYSE:MS) for 10 years, working in London, Melbourne and Sydney.

Mr Bittar was nominated as a director by IMC Resources Investments Pte Ltd (IMC) under the terms of the Company's subordinated secured debt facility and, accordingly, is considered not to be an independent director.

Mr Bittar has appointed Mr Bruno Lorenzon as his alternate. Mr Lorenzon is Head, Group Corporate Finance for the IMC Group and has more than 15 years' experience in investments, strategy and corporate finance in the resources sector both in Australia and overseas. He has worked for the IMC Group for the past nine years and previously worked for Vale (NYSE:VALE) in Brazil and Rio Tinto (ASX:RIO) in Australia in roles encompassing strategic planning, M&A and business development. Mr Lorenzon has a Bachelor of Civil Engineering, MBA and is a CFA chartholder. Mr Lorenzon is also an alternate director representing the IMC Group on the Board of Millennium Minerals Ltd.

Horizon Oil's Chairman, John Humphrey, commented:-
"We are pleased to welcome Greg and Bruno to the board. Their experience and financial management expertise will complement the existing skills on the Horizon Oil board."


About Horizon Oil Ltd

Horizon Oil Limited (ASX:HZN) (OTCMKTS:HZNFF) is an ASX-listed oil and gas exploration, development and production company, incorporated and domiciled in Australia.

Horizon Oil portfolio is comprised of petroleum interests in China, New Zealand and Papua New Guinea.

The producing assets in the Beibu Gulf of China (Block 22/12) and the Maari/Manaia Fields offshore New Zealand (PMP 38160) generate stable and significant cash flow which will continue at current levels into the next decade.

Horizon Oil also has a substantial acreage holding of some 8,000 sq km in the forelands of Western Province of PNG, which includes the Stanley field (PDL 10), the Elevala/Tingu and Ketu fields (PRL 21) and the Ubuntu field (PRL 28). These fields contain material, appraised and independently certified gas-condensate resources and the company is currently working with its joint venture partners to aggregate these resources for a planned 1.5 million tonnes per annum LNG scheme, called Western LNG (WLNG).

   

Contact

Mr Michael Sheridan
T: +61-2-9332-5000
F: +61-2-9332-5050
Email: exploration@horizonoil.com.au
www.horizonoil.com.au



Link: Director Appointment


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