Premier Oil welcomes new CEO

Premier Oil, the UK-based independent oil and gas exploration and production company, today announced the appointment of Tony Durrant as Chief Executive Officer (CEO) with immediate effect.

Durrant joined Premier in June 2005 and has served as Finance Director since that time. Prior to joining Premier, he worked at Lehman Brothers, latterly as Managing Director and Head of the European Natural Resources Group.

Mike Welton, Chairman, commented: “The process to appoint Simon Lockett’s successor has been rigorous and comprehensive, including both internal and external candidates. The Board is unanimous that Tony has the right skills and experience to take Premier forward.”

“I would also like to express thanks to Simon, on behalf of the Board, shareholders and staff for his enormous commitment and contribution to Premier over the past nine years. The Board wishes Simon well as he moves on to new ventures and thanks him for helping to ensure a smooth transition for the business.”

Tony Durrant commented: “I am delighted to take on this role and to build on the already strong foundations that have been put in place. Along with the team, I will be driving the business forward by maintaining our good recent momentum and, in due course, will update shareholders on the actions we will be taking to further Premier’s next stage of development.”

[mappress]