Oilex Ltd - Australian oil and gas exploration and production company - Hires Star Energy founder Roland Wessel as chief executive and director, effective immediately. The company's managing director and interim chair, Joe Salomon, will become interim executive chair before moving to a non-exec chair role to maintain continuity on projects in India and the UK.
Says geologist Wessel has 45 years of project and corporate management experience in the world's major oil and gas regions. In 1999 Wessel founded Star Energy, a UK onshore operator of 25 oil and gas fields. Star Energy was bought by Petroliam Nasional Berhad, known as Petronas, in 2008. Wessel and the board agree on the prominent role natural gas will play in the transition to mixed energy sources over the next 30 years.
Managing Director Joe Salomon said: "Roland's background is a perfect fit to take the company forward in its key operational areas and his breadth of experience brings additional capabilities to the company. I look forward to working closely with Roland as we move into a new exciting phase of Oilex's growth."
Current stock price: 0.22 pence, down 2.2% on Wednesday
Year-to-date change: up sharply from 0.08p at end of 2020
By Scarlett Butler; scarlettbutler@alliancenews.com
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