Beach Petroleum Limited (ASX:BPT)
Adelaide, June 26, 2009 AEST (ABN Newswire) - New growth and operational strategies are reflected in key Board and Executive appointments announced today by Australian oil and gas producer and explorer, Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF).
Beach Chairman, Mr Robert Kennedy, announced that Adelaide lawyer, Mr Glenn Davis, had been appointed Deputy Chairman and that Mr Hector Gordon - currently the Company's Chief Operations Officer - had been appointed to the newly-created position of Chief Executive Officer (CEO).
Mr Davis, who has been a Beach Director since 2007, has had a long association with the Company in legal and commercial matters.
"As Deputy Chairman, Mr Davis brings to the Board his expertise in the execution of large legal and commercial transactions and significant experience in corporate activity regulated by the Corporations Act and ASX Limited," Mr Kennedy said.
"We also advise that our Managing Director, Mr Reg Nelson, will in future concentrate largely on high level strategic growth opportunities for the company," he said.
"To that end, Mr Hector Gordon will assume the role of Chief Executive Officer, with a focus on building and developing Beach's exploration and production portfolio as well as its investor relations function."
Mr Kennedy said the new appointments were at a time when Beach is poised to take advantage of its strong balance sheet and nil effective debt to build and grow.
"These appointments enhance the Beach Board and executive team which have over the years developed a strong rapport and mutual respect, based on independence and professional competence," he said
"This has allowed Beach to think ahead of the pack over the past decade and both grow and capture value along the way - most notably through its strong position in the Cooper Basin oil and gas fields and the recent sale of it's Surat Basin coal seam gas assets at a very strong profit.
"It's also why the company is held in such high respect by its peers in the industry."
Contact
Reg Nelson
Beach Petroleum
Tel: +61-8-8338-2833
Hector Gordon
Beach Petroleum
Tel: +61-8-8338-2833
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