19th Jan 2005 07:01
Hardman Resources Limited19 January 2005 STOCK EXCHANGE / MEDIA RELEASE RELEASE DATE: 19 January 2005 CONTACT: Scott Spencer TELEPHONE: Within Australia: 08 9261 7600International: +61 8 9261 7600 RE: APPOINTMENT OF NEW CHIEF EXECUTIVE Hardman Resources Limited is pleased to announce the appointment of Mr. SimonPotter as its new Chief Executive Officer (CEO) and Managing Director, withimmediate effect. Mr Potter joins Hardman Resources from BP, and most recently, the joint venture(JV) operation between BP and Alfa Group in Russia, TNK-BP. As Chairman or CEOof a group of Russian subsidiary companies, Mr Potter had overall charge of theOrenburg/Saratov division of the JV, a group of 150 fields between the Volga andthe Russian border with Kazakhstan, which collectively produce 330,000 barrelsper day. These companies refine 150,000 barrels per day and operate some 65 oildrilling rigs. Alan Burns, Chairman and founder of Hardman Resources, commented: "The Board is pleased to have secured Simon as CEO and Managing Director to leadour next growth phase. His appointment follows the Board's decision to conductan extensive search and interview process among candidates of internationalcalibre across the oil and gas industry. Simon's skills and contacts make astrong fit with Hardman's broad growth and expansion ambitions. "On behalf of the Board, I should like to give our full thanks to Scott Spencer,Executive Director, for his thorough and effective stewardship of the company'saffairs for a considerable period." Simon Potter, CEO and Managing Director, Hardman Resources, commented: "I am very pleased to be joining Hardman Resources. The company has strong coreoperating assets, an entrepreneurial spirit and a track record of deliveringvalue growth for shareholders. I look forward to working with my new colleaguesto build on this record and to enhance the company's growth profile in thecoming years." Enquiries: Scott Spencer Hardman Resources Limited Telephone: +61 8 9261 7600Dean Richardson Patrick Handley Brunswick Group LLP Telephone: +44 20 7404 5959James CramptonPhoebe Buckland Notes to Editors: 1. Simon Potter - Biography Simon Potter, 47, brings to the posts of CEO and Managing Director of HardmanResources a broad range of international oil industry experience in bothcommercial and technical operations. He first qualified with a BSc in Geologyfrom the Royal School of Mines, Imperial College, London. His professionalcareer began as a geologist in the Copperbelt in Zambia. Simon subsequentlycompleted an MBA at Imperial College and then embarked upon a 20-year careerwith BP. Simon began at BP in international business development, negotiating leases andcontracts covering a broad international spectrum from the North Sea to theMiddle East, Asia and Africa in both oil and gas. From 1991 to 1995 Simon wasBusiness Development Manager, based in Melbourne, covering BP's Asian interests.These included the North West Shelf project where he gained first-handexperience as a partner in a Woodside-operated JV. Following his role inAustralia, Simon managed increasingly more complex operations offshore in the UKNorth Sea, Alaska, Indonesia and latterly Russia. Prior to his role in TNK-BP, Simon was President and CEO of BP's LNG JVoperating company in Indonesia - VICO. VICO produces 1,200 TJ/day (1.2 bcf/day)and acts as the Technical Advisor to the seven-train Bontang LNG plant. In addition to these roles, Simon completed the Executive programme at StanfordUniversity in 1999 and served as Executive Assistant to the CEO of BPExploration in 1996/97. Simon is a British national and will be resident in Perth with Monique and theirtwo children who are Australian. Simon's sporting interests include rugby unionand rowing; he has represented Zambia in rugby and the UK in rowing. Summary Contract Details • Five year term • Base salary: A$700,000 • Superannuation at statutory minimum • Participation in an annual bonus scheme that may deliver additional cash payments with a target payout of 50% of salary, based on performance measured against criteria to be determined by the Remuneration Committee and approved by Board. To be determined. • Participation in a long term incentive scheme targeted to deliver rewards based on performance measured against criteria to be determined by the Remuneration Committee and approved by Board but to include comparative performance against peer E&P companies. To be determined. • Sign-on and loyalty incentives to be paid in cash and based on the movement in the Company's share price over certain defined periods. SCOTT SPENCERDIRECTOR This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Highlands Natural Resources