HPL.H:CC - Horizon Petroleum Announces Results of 2022 Annual General and Special Meeting and Introduces New Board and Management
Calgary, Alberta--(Newsfile Corp. - November 9, 2022) - Horizon Petroleum Ltd. (TSXV: HPL.H) (the "Company" or "Horizon") is pleased to announce the results of the Annual General and Special Meeting of shareholders ("AGM") held on November 7, 2022 and to introduce new members of the board of directors and management.
David Winter, CEO of Horizon, comments: "I am pleased to introduce the new Board members and management team to shareholders and look forward to working with them to build a profitable natural gas focused energy business in Poland and Europe. The team brings a great deal of international financial, operating and business experience gained in Europe and around the world."
The four (4) nominees listed below were elected to serve as a directors of the Company until the next Annual General Meeting or until their successors are duly elected or appointed subject to the Business Corporations Act (Alberta) and the by-laws of the Company. The detailed results of the vote for all motions presented at the AGM are set out below:
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4663/143562_e6125ba14493b855_002full.jpg
As noted in the table above, the appointment of McGovern Hurley LLP as the Company's independent auditors was approved along with fixing the number of directors of the Company at four and the Company's 10% rolling stock option plan.
Mr. Yogeshwar Sharma and Mr. Henry Wilson did not stand for re-election at the meeting. Mr. Sharma was a co-founder of the Company, and Mr. Wilson has served as a Director since 2017. David Winter, CEO of Horizon, on behalf of shareholders, stated:
"I would like to thank them both for their service to Horizon and its shareholders and for providing their guidance and advice to management as we have steered the Company through a difficult period over the last several years for the Company and the industry as a whole.
I would like to welcome Mr. Tan Shern Liang and Mr. Roger McMechan to the Board and Roger to the executive team. They both bring indispensable and extensive international, financial and operating experience and expertise in their fields to the Company as we continue to rebuild the company into a natural gas energy company focused in Europe."
The biographies of the members of Board below summarise the expertise and experience the directors bring to the Company:
Dr. Charle Gamba is currently a Co-Founder, Director, President and Chief Executive Officer of Canacol Energy Ltd. Dr. Gamba has over 30 years of ?international oil and gas experience, and has previously worked for Imperial Oil, ?Canadian Occidental Oil and Gas, Occidental Petroleum, and Alberta Energy ?Company in Southeast Asia, the Middle East, West Africa, Canada, and Latin ?America. He has served on the board of directors of several publicly listed and ?private oil and gas companies where he held positions on the ESG, audit, ?reserves, HSE and compensation committees. Dr. Gamba currently sits on the ?board of the Asociacion Colombiana de Petroleo and Naturgas, two industry ?groups that form upstream, midstream and downstream policy for the oil and gas ?industry in Colombia. Dr. Gamba holds a B.Sc., M.Sc. ?and PhD in ?Geology??.
Roger McMechan has over 35 years of diverse experience in managing domestic and international oil and gas operations. He has held senior management positions for Petro Canada and Burlington Resources in North Africa and Canada; was the Executive Vice President and Director of Winstar Resources with operations in Canada, Tunisia, Hungary and Romania; the Chief Executive Officer and Director of Iskandar Energy, a private company that operated in Bulgaria, Georgia, Poland and Ukraine; and more recently was the Technical Director of Block Energy Plc with operations in the country of Georgia. Mr. McMechan received a BSc in Mechanical Engineering from University of Waterloo.
Tan Shern Liang has more than 30 years of experience in both the banking and investment industries. Mr. Tan is the founder and Chief Executive Officer of One Tree Partners, a licensed asset management firm in Singapore. One Tree Partners is one of the longest established fund management firms in Singapore. Over the years, One Tree Partners has invested in more than US$1bn worth of mining and commercial real estate deals across the region. Prior to founding One Tree Partners, Mr. Tan held increasingly senior management and executive roles at Citibank, UBS and Goldman Sachs in Singapore. Mr. Tan graduated with a Bachelor of Business Administration (BBA) degree from the University of Michigan.
The Board of Directors has also confirmed the positions of the following officers of the Company who form the core of the leadership team of Horizon:
Dr. David Winter was confirmed by the Board as the Chief Executive Officer of Horizon. ?He is a co-founder and a Director of Canacol Energy Ltd. Previously, Dr. ?Winter ?was the ?Founder, Chief ?Executive Officer and Director ?of Excelsior Energy ?Limited, an oil ?sands focused ?exploration ?company. Dr. ?Winter brings 37 years of international ?experience ?in a ?variety of ?technical, management and ?leadership roles ?living and working in Latin ?America, Middle ?East, ??Southeast Asia and the UK North Sea. His experience ??was gained ?working at British Petroleum, ?Sun ?Oil, Canadian ?Occidental (now ?CNOOC), ?Alberta Energy Company (now ?Ovintiv) ?where he ?was a member of the leadership team ?that ?grew its ?international business to over ??60,000 barrels of oil equivalent per day, ?Calvalley ??Petroleum and Excelsior Energy Limited. Dr. ?Winter holds a ?BSc (Hons) in ?Geology ?from the University a ?London, a MSc degree ?in ?Structural Geology ??from Imperial College, University of ?London and a PhD degree ?in Structural ?Geology from ??Edinburgh University??.
Roger McMechan was appointed as the President and Chief Operating Officer of Horizon. His biography is outlined above.
Ian Habke was confirmed as the Chief Financial Officer of the Company. Mr. Habke is a Chartered Accountant with over 30 years of experience in the oil and gas industry. He has worked in finance management roles in multiple countries including Canada, the Middle East, the UK and Latin America. Ian has acquired significant knowledge in the areas of oil and gas operations, strategic planning and budgeting, cost control, financial reporting, M&A activities, tax planning, investors relations and supply management. His experience was gained in both junior and large companies including increasingly senior financial management roles with Nexen in the UK, Canada and Yemen. Mr. Habke completed his Bachelor of Commerce degree from the University of Alberta.
About Horizon Petroleum Ltd.
Calgary-based Horizon is focused on the appraisal and development of oil & gas reserves in Europe. The Management and Board of Horizon consist of oil & gas professionals with significant international experience in the appraisal, development and exploration for oil and gas fields.
For further information about the Company, please contact:
Dr. David Winter
President & CEO
+1 403 619-2957
david.winter@horizon-petroleum.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Horizon. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things the furtherance of Horizon's European acquisition and development strategy and the ability to build a profitable natural gas focused business in Poland and Europe.
Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Horizon and described in the forward-looking information contained in this press release.
Although Horizon believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143562