All posts tagged petroleum people


‘We must focus on gas because of the many industries that it catalyzes’

The final of four instalments of a wide ranging interview with Gbite Falade, Chief Executive Officer of Niger Delta Exploration & Production (NDEP) , in which he fields questions from  Africa Oil+Gas Report about his company’s medium term strategy, deliverables and the energy transition. NDEP is the most integrated Nigerian homegrown independent, with crude oil production from the Ogbele field since 2005, a 100MMscf/d gas processing plant installed since 2012 and a three train 11,000BPSD refinery which took off as a 1,000BSPD topping plant in 2011. It holds a 42% interest in NDWestern, a special purpose vehicle for acquiring Shell’s divested assets and operates the Omerelu marginal field and the Oil Prospecting Lease (OPL) 227.

Of the three parts of the chain, upstream, midstream and downstream, which of them is your core?

My broad exposure prior to coming here gives me a very open mindset but I am fixated on where value can be created the most. Interestingly, none of the three parts that we are into is a replacement for any of the other two.

We don’t see any one of them as a replacement for the other or as a competition but we see them as a relay where there is a hands off from one to the other. Overall, the bigger picture is the domestication of consumption here in the country and within the sub region and there is also superior sustainable value creation for our shareholders that is in a way that shields us significantly from the vagaries of international dynamics of buying your crude oil or buying your gas but this puts us in a space where we can finally take the final product to the people that need it.

If you were sitting here six years ago, would you have taken the decision to build a refinery?

That investment is consistent with the DNA of this company. This has been a company of many firsts and if there was one company that would have successfully pioneered this, I am not sure you would have to look beyond NEDP. There are some level of risk taken in a very responsible way that is part of the  DNA of this company; if this company never took any risks, I am not sure we will be where we are today. Is it guaranteed that all those risks will pay off? No. But as you know, the vision was 2020 but as at today, do I think it was an inspired decision? Absolutely yes.

When you get to those low moments when you are speaking about $30-$40 per barrel [of crude], then your refinery helps you to get more value that you otherwise would not have gotten if you stayed strictly as an upstream player. It is diversification strategy if pursued with care. If handled responsibly, it can be profitable.

Is it an economically sound judgement to have  to sell a chunk of the refinery products in (the local currency) Naira?

It is not in the strictest sense because when you consider the fact that the key elements of your refinery are denominated in dollars, the CAPEX to build is dollar denominated, the feedstock you buy is also dollar denominated. It is a huge exposure when you are then selling your refined product in Naira. And a Naira that is showing a significant level of instability in exchange rate against the dollar. It is a nightmare but I believe that those are some of the things that task our creativity. Our creativity in resolving this is going to be a combination of operational and commercial measures. Commercial measures to seek the appropriate hedging structures that hedges against currency devaluation and also price fluctuations.

NDEP averages 12,000BOPD from the Ogbele field but can the existing reserves sustain it for another 2-3 years for example?

At the start of 2021, we were on 9,000BODP but about nine months after, we had cruised to 12,000BOPD, not because we have drilled an additional well but an outcome of production optimization and well intervention in a “rigless” way. We strongly believe that with the envelope of what we have today, can sustain that 12,000BOPD both on the infrastructure level and in the sub-surface. We are going through some sub-surface data [that] shows us prospects that are decent and significant and material enough not only to sustain the 12,000BOPD threshold that we are on right now but to take us higher by a factor of at least 50%. And this is the general story of the Niger-Delta basin.

At the time we took over the asset, the initial view was that there was about five million barrels of oil in place but at some point, it was upgraded to 10 million barrels in place. In 15 years of production, we have successfully extracted 20 million barrels and we are still producing at the level that we are right now. So, the continuous examination and re-interpretation of the data that we have today shows us that there is still a whole lot possible. We are finding out is that most of the reservoirs that we have in Nigeria contain a whole lot more than we have given them credit for. What is necessary is the proven experiences at the subsurface examination and interpretation and the right skill set of being able to drill the right wells and drill it at the right cost. And then, for the above surface skills to set up the above ground infrastructure to operate it. We have that in NDEP and not just we do have that we are carefully making the right calls of adding horsepower in the relevant areas such that we would continue to function as a center of excellence for hydrocarbon discovery and extraction and safe production.

What about the undeveloped assets:  Omerelu and OPL227?

We are carrying out re-interpretation and reassessment of the resource that we have in Omerelu and OPL 227. We  will soon see some limited campaign in terms of further exploration and appraisal in both Omerelu and OPL 227. We are convinced that the outcome of the ongoing subsurface data review will translate into a new field development plan for those two assets and they are firmly within our program of expanding our resource base as a company.

Are you thinking of more asset acquisition and can we briefly talk about gas?

Starting off from where we are today, Omerelu and OPL227 are in play for us. But I think the reality is that when we are done with the [data] reinterpretation and then we can speak with certainty about them.

In terms of gas play, we are 53MMscf/d and we are on a journey to double that in 2022. That’s for the ready market. But there is also new investment in capacity we are making. The lead time for gas development is such that you cannot wait until the problems are fully solved before you make the investment otherwise you would be left stranded.

Who are the main offtakers of the 53MMscf/d of gas that you produce?

What we are doing today is that we are still supplying to only those two guys but for one of them, which again I will like to keep quiet about, we are going what you can call an excess gas supply which they are happy to take because they have got the capacity to take more. But we are also conversing with some other domestic offtakers who we expect within the next couple of months should come onboard. And the excess gas becomes a subject of a contracted arrangement with them.

What is your sense of the end of the fossil fuel era ?

At some point, whether it’s 10 or 15 years from now, we will begin to see the shift as has been evident over the past 3 to 4 decades. We have been seeing an increase in the energy mix to what it is today. Would it lead to the elimination of oil as a primary energy source? No, but there are certain events that would alter the energy mix.

What is clear is that globally, gas will play that role for the foreseeable future as a transition fuel. For us in Nigeria, we must focus on gas because of the many other things that it catalyzes, we must focus on gas because of its ability to help us get out of the power deficit that we find ourselves in, we must get more into gas because of the feedstock characteristics of our agribusiness and our petrochemical business. We will continue to use gas either as fertilizer, urea and many other gas based industry. Gas looks like it is going to have a more enduring energy mix future globally and in Nigeria than it is for oil but the timing when that inflection would weigh more on gas than it is on oil is going to be driven more by events than by the passage of time.

You talked about planned increase in gas processing  capacity; how much increase, in what time frame, are you looking at?

What we have today is about 100MMsfc/d processing capacity. We have pre-invested and taken an investment decision to expand that to 400MMscf/d. We are expanding it by an additional 300MMscf/d. We have taken custody of the equipment to carry that out and at the rate at which we are going, we foresee that in the next one or two years, we would have installed and commissioned that additional 300MMscf/d. There is more than enough latent demand in the market both in terms of export and domestic consumption.

You did say that your current production of crude is 12,000BOPD and now you would be running this 11,000 barrels per day Refinery. Does that mean you commit all of that crude volume to the refinery?

No. We still have obligations as it were in terms of payments that we have to generate in dollars so the option of export sale of our crude is not one that we can take off the table so that we do not default in our obligations. The PIA allows us to buy crude from within the country either from the NNPC or other operators and devote that to refining. We are going to run the refining as a standalone separate business such that with or without the crude from the upstream side, we can continue to run and operate with assured feedstock supply.

If the refinery is a separate entity, why is the gentleman you hired to run it not CEO but GM?

We are in a growth; we are in an evolution and one of the key principles guiding our success is the fact that we operate very lean and we grow responsibly. There are plans for each of the subsidiaries to be run by substantive CEOs. I double as CEO for the group and also for the entities but as we grow and as we create the robustness of our cash flow, we then begin to onboard each of the people that would take each of these entities and run with them as separate SPVs.

Would you say that your upstream asset would be able to do say 18,000BOPD in the next five years?

The five-year journey would see us with our own equity of crude in the upstream of not less than 50,000BOPD. At the midstream gas processing, we will directly be pushing not less than 300MMscf/d and in the refinery, we see it growing beyond 11,000 barrels per day during that timeframe. We have a clear view as to where our five-year projection is like but we strongly believe that the next five years is going to be transformational for us. Transformational would then be interpreted in terms of scale. Will the scale come from the current set of assets that we have today? No. We are keenly looking at acquisition opportunities in order to provide the resource base for the kind of target that we are shooting for.

Let me ask you about the ongoing Shell divestment. It’s down to two companies. A lot of people are upbeat about ND-Western being the lead runner. NDEP is a large shareholder in NDWestern. What is the model?

We are looking for resources where we can find them. We will also continue to put ourselves forward where those opportunities are manifesting themselves and it is only a matter of time. Because we also recognize that the people who are divesting are not just bothered about what they would cash out on but also about the legacy that they are leaving behind and how that would be sustained over time. When you get to that point, it is companies like us that have continued to prove ourselves that would be there ultimately. Whether that would happen during primary divestment or secondary one, is anybody’s guess but we are on a long game and we are going to stay there.

Did companies come to you who were struggling to pay their signature bonus in the marginal field bid round and therefore asking you to take over?

Yes we have had several of them and we have had them in the tens. We have been approached severally but because we are also a very careful builder of value, we are not carried away by everybody that approaches us. We are looking at above ground issues, the chances of being able to operate those marginal fields successfully and a compendium of other factors in other to make up our minds whether we are going to go with anyone of them or with nobody at all.


Ewherido Becomes ExxonMobil’s (Global) Director of Established Areas Exploration

The Nigerian geologist Tolulope Ewherido has been promoted to the position of Director, Established Areas Exploration, ExxonMobil Upstream Company.

Up until the end of April 2022, she was the Vice President Subsurface, ExxonMobil Upstream.

A graduate of the University of Ibadan, Nigeria’s premier University, Ewherido is the highest ranked African technical professional in ExxonMobil worldwide.

Her current job is located in Springs, Texas in the United States, whereas, her last three positions: Exploration Manager, Guld of Mexico (2014-2017); Vice President Technical- Geoscience Exploration (2017 -2019) and Vice President, Subsurface, (2019-2022) were all in Houston, Texas.

In a wide ranging, in-depth 2018 interview with the earth science journal GeoExpro, Mrs. Ewherido described her promotion to Vice President, Technical Geoscience Exploration as “a global role with probably the broadest scope of any I have had”.

She has since stepped higher, of course,

Ewherido has spent 31 years in the company and has been taking job after job of increasing responsibility.

Her career actually took off when she became General Manager, Nigeria Production Geoscience in 2007.

“I have to admit, I’m a production geologist at heart,” she told GeoExpro, which is published in the UK: “I really like the part of the value chain post-discovery when you are evaluating the field and working out the concepts that will deliver maximum productivity, recovery and profitability and then executing that over the life of the field.”

At that time (15 years ago), Nigeria was a significant heartland of the company’s global portfolio. Ewherido moved up in 2009 to become General Manger, Nigeria Deepwater Venture Projects.

In May 2012, which is around 10 years ago, she left Nigeria for the United States, on a posting as Commercial Manager, Exploration, Americas Region. She has moved  on  farther up from there.

 

 


Seplat Considers a Contract Job for Orjiako, its Would-be Former Chairman

Seplat Energy has confirmed that it is currently in discussions with Ambrosie Bryant Chukwueloka (ABC) Orjiako, for a contract with the company after his retirement from the board as the company’s chairman.

Orjiako will step down at the end of the Annual General Meeting on 18 May 2022.

The contract will be about how Orjiako “would assist Seplat Energy Plc with specific and essential external stakeholder engagements he is currently involved in, which will continue beyond the date he steps down”.

Mr. Orjiako, a Medical Doctor by training, is a founder of the company and has been its chairman for 12 years; eight of them spent after the company was listed on the London and Nigeria Stock Exchanges, and four of them prior to the listing (that is, since inception of the board on May 1, 2010).

The company clarifies that “no contract has been finalised yet and the contractual role to be performed by Dr Orjiako, will not be in conflict with the role of the incoming Independent Non-Executive Chairman”.

Seplat Energy explains: “Assuming a contract is subsequently agreed, on signature, the Company will fully disclose the terms in accordance with regulatory requirements”.

Meanwhile, “an accelerated contractual payment, under Dr. Orjiako’s current service contract, will be made post AGM 2022, in line with the Shareholders’ approved Remuneration Policies and fully disclosed in the Company’s Directors Remuneration Report for 2022”, the statement concludes.

 


SEPLAT’s Two Founders Would be Out of Its Board by June 2022

By Macson Obojemuinmoin

Basil Omiyi, former Shell Nigeria CEO, likely to step in as Interim Chairman …

Seplat Energy, Africa’s largest homegrown E&P independent, has appointed three new directors to its board.

Two of these incoming directors will be replacing the two men who founded the company in 2009 and took it to list on the London Stock Exchange five years later.

Kazeem Raimi will step in as a Non-Executive Director, replacing Austin Avuru, the company’s founding Managing Director, who represented the interest of Platform Petroleum on the board. Ernest Ebi arrives as a Non-Executive Director, replacing A.B.C.Orjiako, Chairman of the board who leaves his position at the end of the Annual General Meeting (AGM) on May 18, 2022.

The third new appointee, Bashirat Odunewu (Mrs.) is an independent Non-Executive Director. She will be taking the board seat to be vacated by Charles Okeahalam at the AGM. Mr. Okeahalam, a professor of Econometrics and co-founder of the investment firm AGH Capital, has been on the board as far back as 2013.

Which means, effectively, that Messrs Orjiako and Avuru, who came together as heads of Shebah Petroleum and Platform Petroleum respectively in 2009 and created the company as a Special Purpose Vehicle to purchase Shell &Co’s equity in Oil Mining Leases (OMLs 4, 38 & 41), will have been out of the board by the morning of May 19, 2022.

None of the two would be on the board to be personally part of the finalization of the company’s most transformational deal: the purchase of Mobil Producing Nigeria (2021 net output: 99,000BOEPD), with vast upside (Fuller details of this story in the April 2022 edition of the monthly Africa Oil+Gas Report).

SEPLAT ENERGY HAS CONDUCTED A WIDE SEARCH FOR A CHAIRMAN, outside the current board. For now, however,  the company is likely to settle for one of the members: Basil Omiyi, former CEO, Shell Petroleum Development Company (SPDC) and former Chair of Shell Companies in Nigeria (SCIN), as interim Chair. Omiyi is an important historic figure in the Nigerian oil industry.  His appointment, exactly twenty years ago, as the first Nigerian CEO of SPDC (and the first Nigerian CEO of any upstream oil major operating in the country), was a high-water mark in the currents of Nigerian local capacity development in the sector.

So, who are the new appointees to the Seplat Energy Board?

Bashirat Odunewu (Independent Non- Executive Director) is a Banking and financial expert with about 30 years’ experience in the Finance and Banking Industry. Up till June 2021, she served as C-Suite executive, corporate banking (Energy, Natural Resources & Infrastructure), at First Bank Nigeria Ltd, prior to which she was the line executive for their international banking group where she supervised CEOs of the subsidiaries of First Bank in six African countries as well as the Bank’s Representative office in China and served as a board member for several of them.

She is an Independent NED on the Board of Neimeth International Pharmaceuticals Plc (an NGX quoted company) and is also a member of the Board of Directors for the Franco-Nigeria Chamber of Commerce and Industry where she serves as the Treasurer.

 

 

Kazeem Raimi (Non-Executive Director) is a nominee of Platform Petroleum Limited

replacing Mr. Austin Avuru who stepped down from the Board of Seplat Energy on 1st March 2022. Mr. Raimi is presently the Executive Director, Commercial for Platform Petroleum Limited. Previously with Seplat Energy as General Manager, Commercial, Mr. Raimi was charged with the responsibility for driving commercial, economics, valuation, planning and treasury activities across the entire organisation. He also served previously as Manager, Corporate Planning and Economics at Seplat Energy.  

Mr. Raimi has extensive experience in project economics and risk analysis having been Lead Petroleum Economics and Commercial Advisor at Addax Petroleum Nigeria where he also served in different capacities.

 

Ernest Ebi (Non-Executive Director) is a nominee of Shebah Petroleum Development Company Limited (BVI) replacing Dr. A.B.C Orjiako who will step down from the Board of Seplat Energy on 18th May 2022 after the Annual General Meeting. Mr. Ebi is an executive whose vast experience in the banking and finance industry spans over four (4) decades. From June 1999 to June 2009, he was appointed as a Deputy Governor at the Central Bank of Nigeria, Nigeria’s apex bank, where he covered policy and corporate services portfolios. Prior to this, Mr. Ebi held several executive positions in the banking industry in Nigeria and the United States of America. He was the Deputy Managing Director in Diamond Bank Ltd where he led the bank’s financial services marketing strategy & initiatives for new business development amongst others. In 1995, he was appointed by the Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation as the Managing Director & CEO of New Nigerian Bank Plc.

 


FAR Fires Catherine Norman as Chief Executive

By Toyin Akinosho, Publisher

She oversaw the highly rewarding entry into Senegal, but superintended two disappointing dry holes offshore The Gambia…

Australian minnow FAR Limited, has fired its charismatic managing director.

FAR “advises that Catherine Norman has been given notice of termination from her role as Managing Director, effective immediately and has resigned as a director of the Company”, the company says in a release.

The personable Catherine Norman has been the face of FAR for over 10 years, presenting the company’s case for shareholder value at high profile conferences focused on the African hydrocarbon resource. A geophysicist by training, she was managing director at four companies (World Geoscience (UK) Limited, Fugro Airborne Surveys, Gippsland Offshore Petroleum and Flow Energy Ltd) before she jointed FAR in November 2011. She oversaw FAR’s highly rewarding entry into Senegal and was responsible for the decision that the company would take on the risk to explore the Northwest African margin (known as the MSGBC Basin). But the region has performed far below expectations. FAR has been particularly affected. Ms. Norman superintended two highly disappointing dry holes off The Gambia and the company has had to give up three assets in Guinea Bissau.

“Independent Chairman Patrick O’Connor will oversee the business during a period of transition”, FAR explains.

“With more than three decades’ Board and senior management experience across multiple industries including mining and oil & gas exploration, Mr O’Connor will manage the corporate activities of the Company to support FAR as it continues to progress its strategy to unlock shareholder value”.

It says: “Ms. Norman will also be available during her 12-month notice period to assist with any transitional matters as required, in accordance with her employment contract”.

“The time has now come for a fresh perspective to ensure the Company explores every opportunity to realise value for shareholders”,  Mr O’Connor says in the company’s release, thanking Ms. Norman, on behalf of the Board, “for her significant contribution to the company”.


Pearl Uzokwe is New Head of Sahara Group Foundation

The Board of Sahara Group has approved the appointment of Pearl Uzokwe as Director, Sahara Foundation, the group’s corporate responsibility vehicle.

Ms. Uzokwe, who joined Sahara as Legal Manager, most recently functioned as its pioneer Director of Governance and Sustainability, “where she championed Sahara Group’s energy transition efforts”, according to a company statement.

Bethel Obioma, spokesman for the Sahara Group, reports that the Sahara Foundation has recorded over two million beneficiaries through several sustainable projects, and “now focuses on enhancing access to energy and promoting sustainable environments”.

Obioma’s statement quotes Ivie Imasogie-Adigun, Head, Group HR, Sahara Group: “Sahara Foundation is at the heart of who we are in terms of bringing benevolence to life and the Board is delighted to have Pearl lead the Foundation’s new strategic direction as Sahara deploys projects and collaborates with regional and global organizations to protect our environment and ensure access to energy, leaving no one behind.”

 


Shell Appoints Sinead Gorman as New CFO

Shell has announced the appointment of Sinead Gorman as its Chief Financial Officer, effective April 1, 2022.

She will become a member of both Shell’s Executive Committee and Board of Directors.

Ms. Gorman will be taking over from Jessica Uhl, who is stepping down from her role on March 31, 2022. Ms. Uhi will be available to assist Sinead and the Board with transition until June 30, 2022, after which she will leave the group.

Gorman, a British national, is currently Executive Vice President, Finance in Shell’s global Upstream business. She started her career as a civil engineer before pivoting to a finance career when she joined Shell in 1999. Since then, she has held several increasingly senior finance roles in all Shell’s major businesses, in Europe, North America and latterly globally. A British national, she will be based in London.

A Shell statement says that Uhi “was a key architect of recent strategic changes, including the simplification of the company’s share structure and the relocation of the corporate headquarters, along with the roles of chief executive officer and chief financial officer, from The Netherlands to the UK. However, due to family circumstances a long-term relocation to the UK is not sustainable, and therefore she will step down from her role”.


Carlos Zacarias is Mozambique’s New Energy Minister

…The former energy minister is now the economy and finance minister

Mozambique’s President Fillipe Nyusi has promoted Max Tonela to the position of economy and finance minister. In his place as energy and mineral resources minister, the President has appointed Carlos Zacarias, until now president of the National Petroleum Institute (INP), the country’s hydrocarbon regulatory agency.

On March 2, 2022, Nyusi dismissed six of his 18 ministers. In the following morning, he announced the dismissal of the prime minister, Carlos Agostinho do Rosário, replacing him with former economy and finance minister Adriano Maleiane as the new prime minister, then handed Maleiane’s former job to Max Tonela, his close confidante who had run the energy and mineral resources ministry for the last four years.

Zacarias graduated from the Petrochemical Institute of Baku – Azerbaijan, with a masters’ degree in Petroleum Geology and worked at the National Directorate for Coal and Hydrocarbons (DNCH) as Head of its Technical Department for about 10 years, supervising petroleum and coal activities. In that role, he was involved in the revision of the country’s legal package, exploration activities and implementation of Pande/Temane Gas Project. With the creation of the National Petroleum Institute in April 2005, Zacarias was appointed as the manager of the Projects and Development Division, dealing with Mozambique’s promising and growing gas production and evacuation. In 2008, he was appointed as INP Exploration Manager, supervising and monitoring all exploration activities that led to Rovuma discoveries, including Prosperidade and Mamba. In August 2015, he was appointed in Chairman of INP.

His career has been forged in the crucible of the Mozambican “gas rush”.

As chair of the regulatory agency, he has headed negotiations with concessionaries of the highly prolific Rovuma Basin; negotiations which, in the course of their leading to project implementation, have also informed the country’s new legislations on hydrocarbon development.   .

Zacarias supervised the negotiation of the Legal framework for Rovuma projects designed for Area 1, including the Plan of Development Approval (Coral FLNG and Golfinho/Atum) and all discussion related to Rovuma LNG Phase 1.

 


Olayemi Anyanechi is Appointed Legal Adviser at NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has appointed a Cambridge University trained senior lawyer from the private sector as Commission Secretary/Legal Adviser.

For the agency, created six months ago by the Petroleum Industry Act (PIA), Anyanechi is considered a huge catch, given her pedigree and years of experience in legal practice. She was, until her appointment, Managing Partner at Sefton Fross, a law firm she founded in 2013. She had been Group Legal Counsel at Sahara Group, and a Senior Partner at Templars Law firm, before she founded Sefton Fross, which is very strong in corporate, finance and oil and gas practice sectors.

“Her appointment was made on the basis of the need to improve efficiency and professionalism of the Commission’s legal department”, says Gbenga Komolafe, the NUPRC’s Chief Executive. “The regulator is about the law, and we need to get it right”.

Mrs, Anyanechi was senior counsel and head of Corporate Commercial Department at Olaniwun Ajayi LP. Anyenechi received her first degree in law at the University of Ibadan before she proceeded, as a Chevening Scholar, for Master of Laws – LLM, Corporate and Commercial Law at Cambridge. At Cambridge, she also became a Pegasus Scholar of the Inner Temple. She has a Master of Philosophy – MPhil, Finance, in Financial Sector Management from the School of Oriental and African Studies (SOAS) at the University of London.

 


Craig Steinke is New Executive Chairman of ReconAfrica

ReconAfrica, the Canadian minnow operating millions of acres of the Namibia/Botswana Kavango Basin, has appointed Craig Steinke as a director and executive Chairman of the Board.

Steinke, who founded the company, “has played a pivotal role since inception in the development of ReconAfrica through his private energy consulting practice”, ReconAfrica says in a release.

ReconAfrica shot into the consciousness of the global oil patch when it reported, a “a working petroleum system” in the Kavango Basin, after drilling a stratigraphic test well last March. The Kavango Basin was largely unknown to the industry until then. It is an old miogeosyncline, formed in the Permian (the last period of the Paleozoic era, which ended about 250Million years ago).

“Mr. Steinke has over 25 years of experience in identifying, successfully developing and financing oil and natural gas exploration and production projects in North America, Latin America, Europe and Asia”, ReconAfrica explains. “Additionally, through his privately held company, Mr. Steinke plays an active role leading a diversified team, in generating new sources and technologies for sustainable energy”.

Leaving the board of directors is Jay Park, one of the Company’s early stage and significant shareholders, who has served the Company and its predecessor Reconnaissance Oil as its Chief Executive Officer from May 2018 to August 2020, and then as the Company’s executive Chairman. “Mr. Park will continue to take the leading role in advising ReconAfrica on all oil and gas legal matters through Park Energy Law where he is Managing Partner”, the release states.

 

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