RE: Petrolia22 Jan 2019 21:20
Albi1
I am now genuinely puzzled. Robert Arnott has a doctorate as indicated twice in the post by Missdosh
Following his resignation he went to the press. This is what the FT published:
The oil industry veteran who this week resigned as chairman of Hurricane Energy has accused the company of falling short of the governance and leadership standards expected of a publicly listed group. Hurricane, the oil explorer that claims to be sitting on the biggest new discovery beneath UK waters so far this century, on Thursday said Robert Arnott had resigned as non-executive chairman “with immediate effect”. The company also spelt out its ambition to graduate from London’s junior Aim market to secure a premium listing on a “recognised stock exchange”. Mr Arnott, a former investment banker with more than three decades of experience in the oil and gas industry, said in a statement sent to the Financial Times that his efforts to urgently improve standards in governance and the company’s leadership culture had “failed to succeed due to a reluctance to implement immediate change”. He added that “a substantial gap still exists between the company’s current standards of governance and leadership culture, and those expected of a publicly listed company”. This prompted his decision to resign, despite having only joined the board last year. Hurricane has not yet committed to a particular exchange but a main market listing on the London Stock Exchange is most likely. It has created a subcommittee of the board to evaluate the options as well as review the company’s structure, including its governance arrangements. The group said in a separate statement there had not been an “alignment of views” between Mr Arnott and the rest of the board “on certain aspects of the board’s processes and proposed changes”. Hurricane, which floated on Aim in 2014, raised $530m earlier this year to help produce oil from its Lancaster field in the North Sea by the first half of 2019. It has drilled a series of successful wells in an area west of the Shetland Islands, a part of the UK North Sea where companies and analysts believe it is still possible to make sizeable discoveries. The company’s chief executive Robert Trice, who specialises in a certain kind of geology known as “fractured reservoirs”, set up the company in a converted garden shed in 2005.
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