REG - Zephyr Energy PLC - Additions to senior management team

Zephyr EnergyAnnouncement

28/03/2024 07:15

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RNS Number : 5939I  Zephyr Energy PLC  28 March 2024

28 March 2024

Zephyr Energy plc

("Zephyr" or the "Company")

 

Zephyr announces additions to senior management team

 

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain oil and gas
company focused on responsible resource development from carbon-neutral
operations, is pleased to announce the following additions to its senior
management team:

·    Andy Lee has been appointed Chief Financial Officer (U.S.)

·    Heather Hatfield has been appointed Chief Accounting Officer

·    Ryan Walter has been promoted to Vice President - Operations

All three officers are based in Denver, Colorado.

The Company also announces the retirement of its U.S. Financial Controller,
Linette Purdum.

Colin Harrington, Zephyr's CEO commented:

"We are delighted to bolster our team with these three high calibre
appointments.  Andy, Heather and Ryan bring significant energy and operations
expertise to our Denver-based team, and we look forward to their contributions
as we embark on the next phase of intense corporate activity and growth.

"I would also like to take this opportunity to thank Linette Purdum, our
outgoing U.S. Financial Controller, for her unwavering service to the Company
since 2015. Linette played a key role in the Group's transformation in the
U.S., and I wish her all the best for her retirement."

 

Background

Andy Lee - Chief Financial Officer (U.S.)

Andy has over 25 years' experience in the oil and gas industry working in a
variety of senior finance, drilling and operational roles.  As Chief
Financial Officer (U.S.), Andy will provide an enhanced link between Zephyr's
Finance, Operations and UK-based teams. In addition, Andy will manage
relationships with Zephyr's U.S. lenders, hedging counterparties and strategic
partners.  He will work closely alongside Chris Eadie, Zephyr's Group Finance
Director and Company Secretary who continues to be responsible for all
reporting, compliance and finance activity at the PLC level.

Andy began his energy career as a drilling and production engineer at
ExxonMobil in the Rocky Mountain region, where he drilled natural gas wells in
hard rock and high-pressure high temperature environments similar to the
Paradox Basin. Additionally, Andy worked as a senior drilling engineer for
ExxonMobil in West Texas and the Gulf of Mexico prior to being promoted to
serve as lead drilling engineer on the $1.2 billion Ringhorne platform in
Norway, a greenfield platform that successfully initiated production at
100,000 barrels per day and was ExxonMobil's highest profile European drilling
project at the time.

Andy left ExxonMobil to pursue his MBA, after which he worked on the finance
side of the oil & gas business as a public equity analyst, private equity
investor, and M&A principal.  In 2019, he led the acquisition of Cat
Canyon Resources where he served as both Chief Financial Officer and later as
President.  During his tenure at Cat Canyon, the company grew from the 19(th)
to the 10(th) largest oil company in California in less than four years,
growth which was largely achieved through an active horizontal drilling
campaign.  He holds BS degrees in Mechanical Engineering and Political
Science from the Massachusetts Institute of Technology ("MIT") and an MBA from
the Wharton School.

 

Heather Hatfield, Chief Accounting Officer

Heather has 23 years' experience in the energy and public accounting
sectors.  Prior to joining Zephyr, Heather was the Chief Accounting Officer
at Cat Canyon Resources, LLC from June 2019 to October 2023.  Prior to this,
she served as Controller at Elk Petroleum, Chief Accounting Officer at Venoco,
LLC and as an Internal Audit Director at Venoco.  Heather began her career in
public accounting serving clients in various industries including oil and gas,
manufacturing, and telecoms.

Heather is a certified public accountant and holds a Bachelor of Arts degree
in business and accounting from Western State College of Colorado and a
Masters of Accountancy from the University of Denver.

 

Ryan Walter, Vice President - Operations

Ryan joined Zephyr in early 2023 as the Company's Operations Manager before
his promotion to Vice President - Operations.  Prior to joining Zephyr, Ryan
worked for over a decade at Whiting Petroleum (now Chord Energy) where he
served in various roles including drilling engineer, reservoir/reserves
engineer, senior operations engineer and joint interest supervisor.  During
his time at Whiting, Ryan worked multiple Rocky Mountain regions with
particular emphasis on the Williston Basin.  Among other responsibilities, he
managed the company's relations with non-operated interest owners including
Zephyr.

Ryan received his Bachelor of Science in Mechanical Engineering from Purdue
University.  In his new role, he will oversee Zephyr's field personnel and
engineering team in addition to facilitating work with Zephyr's regulatory and
gas marketing partners on the Company's project in the Paradox Basin, Utah.

 

 

 

Contacts:

 

 Zephyr Energy plc                                               Tel: +44 (0)20 7225 4590

 Colin Harrington (CEO)

 Chris Eadie (Group Finance Director & Company Secretary)

 Allenby Capital Limited - AIM Nominated Adviser                 Tel: +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj

 Turner Pope Investments - Joint Broker                          Tel: +44 (0)20 3657 0050

 James Pope / Andy Thacker

 Panmure Gordon (UK) Limited - Joint Broker                      Tel: +44 (0) 20 7886 2500

 Hugh Rich / James Sinclair-Ford

 Celicourt Communications - Public Relations                    Tel: +44 (0) 20 7770 6424

 Mark Antelme / Felicity Winkles / Ali AlQahtani

 

 

Notes to Editors

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and
gas company focused on responsible resource development from carbon-neutral
operations in the Rocky Mountain region of the United States. The
Company's mission is rooted in two core values: to be responsible stewards of
its investors' capital, and to be responsible stewards of the environment in
which it works.

Zephyr's flagship asset is an operated lease holding of over 46,000 gross
acres located in the Paradox Basin, Utah, 25,000 acres of which has been
assessed to hold, net to Zephyr, 2P reserves of 2.6 million barrels of oil
equivalent ("mmboe"), 2C resources of 34 mmboe and 2U resources 270 mmboe.

In addition to its operated assets, the Company owns working interests in a
broad portfolio of non-operated producing wells across the Williston
Basin in North Dakota and Montana. Cash flow from
the Williston production will be used to fund the planned Paradox
Basin development. In addition, the Board will consider further opportunistic
value-accretive acquisitions.

 

 

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