Hurricane Energy appoints industry veteran as chairman

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Hurricane Energy plc, the UK based oil and gas company has appointment Steven McTiernan as Non-Executive Chairman.

Dr David Jenkins, who has acted as Interim Chairman of the Board since November 2017, will return to his previous role as Senior Independent Director.

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Steven McTiernan has over forty-five years of oil and gas industry and investment banking experience. He was a non-executive director of Tullow Oil plc for eleven years until December 2012, during its period of rapid growth, and served as its Senior Independent Director.

He is currently Chairman of Kenmare Resources, a mining company listed on the Main Market of the London Stock Exchange, where he has been on the board since 2013. He was an independent director at First Quantum Minerals Ltd until June 2012, and an independent director at Songa Offshore SE until January 2014. His oil and gas industry experience includes roles at Iraq Petroleum, Amoco, BP and Mesa, and his banking experience includes senior roles leading energy teams at the Chase Manhattan Bank, NatWest Markets and CIBC. He holds an MA in Natural Sciences from the University of Cambridge.

Dr Robert Trice, Chief Executive of Hurricane Energy, commented:

“I am delighted to welcome Steven to the Board of Hurricane as Non-Executive Chairman. This is an extremely important time for the Company as we progress towards first oil on Lancaster in H1 2019. As the Company continues to grow, and considers the best way to create further value for its stakeholders, Steven’s experience will prove invaluable. His background in both the oil industry and finance, particularly his significant M&A experience, is well suited to guiding the Company in its next steps beyond the commencement of the EPS. I’d also like to thank David for assuming the Interim Chairman role and leading the Board over recent months.”

Dr David Jenkins, Non-Executive Director of Hurricane Energy, commented:

“It is a great pleasure to welcome a Chairman of Mr McTiernan’s calibre to Hurricane and I look forward to working with him as we transition to the next phase of the Company’s development.”

Mr Steven McTiernan commented:

“I am most enthusiastic to be joining Hurricane, one of the UK E&P sector’s most exciting junior companies, at an early stage in the development and appraisal of its unique and play-opening assets. The potential scale and productivity of Hurricane’s opportunity is highly significant. I believe that my diverse technical, financing and transaction experiences can be valuable in helping shape the future progress of the Company. I am also reassured to see the steps already taken by Dr David Jenkins and the Board to put in place corporate governance standards appropriate for a more mature company, and I look forward to steering further steps in this process as the Board considers the merits of application for a premium listing.”

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