Armour Energy Ltd appoint Roger Cressey to interim CEO after first oil shipment
Monday, October 03, 2016 by Proactive Investors
() have appointed chief operating officer Roger Cressey to act as chief executive officer for the company on an interim basis.
The move comes as previous chief executive officer, Robbert de Weijer has resigned. Roger has been employed as an executive of Armour since 2011 and has over 30 years’ experience in engineering construction and project management.
This includes over 20 years within the oil and gas industry, having held senior project management roles with OSD Pipelines, and Caltex Refineries.
Armour has recently shipped its first load of oil produced from the Emu Apple Oilfield within the Kincora Project located in the Surat Basin, Queensland. The company started oil production on 17 August and the field is currently producing at a steady rate of 42 barrels per day.
The operating cost per barrel of oil, including transportation cost to the refinery, is $21.50 per barrel.
The company continues with a multi‐phase plan to restart gas and condensate production at Kincora following a recent four‐fold increase in the contingent gas resources within certain fields in the project area.
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