27th Feb 2014 12:28
LONDON (Alliance News) - Rockhopper Exploration PLC Thursday said Stewart MacDonald will join the company's board as chief financial officer with affect from March 10.
The North Falkland Basin oil and gas exploration company said MacDonald was previously a director in Rothschild's global oil and gas group and spent 12 years advising clients in the sector on a range of transactions, as well as debt and equity financings.
"MacDonald brings a wealth of oil industry experience, and his broad upstream financing knowledge, including project finance and reserve based lending expertise, will be invaluable as we move towards project sanction on the Sea Lion development and look to evaluate further strategic opportunities," Chief Executive Officer Sam Moody said in a statement.
Earlier this month, the company announced its further plans for phase 1 of the Sea Lion Development, which it expects to recover 293 million barrels of oil over 25 years.
Rockhopper shares were down 2.2% to 113.68 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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