ExxonMobil Man Joins Tap Oil (Australia)

Tap Oil Limited (Tap) has appointed Dr Douglas Schwebel to its Board of Directors effective on this day, 16 February 2012.

Dr Schwebel has over 30 years experience in the resources sector, having held various senior executive positions with ExxonMobil, including Exploration Director for its Australian upstream subsidiaries. His 26-year career with Exxon Mobil included exploration and resource commercialisation and strategy roles in Australia, the USA and Asia. Between 2008 and 2011 he was Chief Executive Officer of the privately owned Pexco NV and its Australian subsidiary Benaris International Pty Ltd. Dr Schwebel has also served as a Non-Executive Director on the Boards of Roc Oil Limited and Great Artesian Basin.

Tap welcomes the appointment of Dr Schwebel to the Board, which will benefit from the complementary mix of skills and experience that he brings to the Board., the company said in the statement.

“Dr Schwebel brings a vast array of exploration and geoscience skills to Tap which will assist the Company in its current strategy focusing on Australia, South East Asia and Ghana”

The appointment of Dr Schwebel comes after Dr Neale Taylor and Mr Peter Lane announced in December 2011 their pending retirement from the Board. Dr Taylor will retire as Chairman on 31 March 2012 and current Non-Executive Director, Mr Douglas Bailey will be appointed as the Chairman. Mr Lane has decided to retire immediately following Tap’s exit from the Harriet Joint Venture and removal of its exposure to the uncertainty of ongoing litigation. After the retirement of Dr Taylor, the Board will reduce to three independent Non-Executive Directors and the Managing Director.

Chairman, Neale Taylor said:

“Dr Schwebel brings a vast array of exploration and geoscience skills to Tap which will assist the Company in its current strategy focusing on Australia, South East Asia and Ghana. Mr Lane’s decision to retire from the Company he co-founded 16 years ago, is at a time when he sees the Company achieving an effective resolution of the Harriet Joint Venture disputes and litigation, having a strong balance sheet, near term oil field development and high reward exploration potential.”

[mappress]
Offshore Energy Today Staff, February 16, 2012