Annual Report & Accounts 2013


Company Directors

Robert Adair

Non-executive Chairman

After graduating in geology from Oxford University, Robert qualified as a Chartered Accountant and then specialised in oil and gas taxation. Robert was the original founder and Chairman of Melrose Resources, which merged with Petroceltic in October 2012. He is Chairman of Skye Investments, the Company’s largest shareholder and also Terrace Hill Group plc, an AIM listed company. He also holds directorships in a number of other companies. Robert is Chairman of the Nominations Committee.

Brian O’Cathain

Chief Executive

Brian is a geologist and petroleum engineer with 30 years’ experience in senior technical and commercial roles in upstream oil and gas exploration and production companies. Brian previously held the positions of Managing Director of Tullow Oil’s international business and Chief Executive of Afren. In senior management positions with Enterprise Oil and Shell International, he was principally involved with acquisitions, divestments and corporate strategy. He has experience working in North and West Africa, the North Sea, the Gulf of Mexico, South Asia, and Ireland. Brian is a member of the Nominations Committee.

Tom Hickey

Chief Financial Officer

Tom was previously an Executive Director and Chief Financial Officer of Tullow Oil plc, from 2000 to 2008. During this time, Tullow grew via a number of significant acquisitions including the $570m acquisition of Energy Africa in 2004 and the $1.1 billion acquisition of Hardman Resources in 2006. Prior to joining Tullow, Tom was an Associate Director of ABN AMRO Corporate Finance (Ireland) Limited. Tom is a Fellow of the Institute of Chartered Accountants in Ireland, and a Non-executive Director of PetroNeft Resources.

David Thomas

Chief Operating Officer

David holds a BSc in Mining Engineering and an MSc in Petroleum Engineering. He has over 30 years of experience in the oil and gas business, primarily gained in Europe, Africa and Asia. From 1978 to 1995, he worked with Conoco before moving to join Lasmo plc, where his last position was as Group General Manager Operations. Subsequently, he served as a Regional VP for Eni and then as President and COO for Centurion Energy, before joining Melrose Resources in 2007 as Chief Executive Officer. He was appointed Chief Operating Officer of Petroceltic in 2012 upon its merger with Melrose Resources.

Hugh McCutcheon

Non-executive Deputy Chairman

Hugh joined Davy in 1989 from PriceWaterhouse, where he qualified as a Chartered Accountant. He was Head of Corporate Finance at Davy from 2001 to 2011. Throughout this period he maintained a continuous interest in the natural resources sector and has advised oil and gas companies including Tullow Oil, Dragon Oil, Providence Resources, Aminex, and PetroNeft. Hugh holds an honours degree in Economics from Trinity College Dublin, and is a Fellow of the Institute of Chartered Accountants in Ireland. Hugh is Chairman of the Audit Committee and a member of the Nominations Committee. He is also Non-executive Director at Origin Enterprises.

James Agnew

Senior Non-executive Director

James is Chairman of UK Corporate Broking at Deutsche Bank. He joined Deutsche Bank in 2002 having previously been Head of Corporate Broking at Merrill Lynch from 1995 to 2002. He is a graduate of Oxford University and a member of the Panel on Takeovers and Mergers and the London Stock Exchange Primary Markets Group. James qualified as a Chartered Accountant with KPMG. He was appointed an independent Non-executive Director of Petroceltic in October 2012. James is a member of the Audit, Remuneration and Nominations Committees.

Ian Craig

Non-executive Director

Ian is a Civil Engineer with over 30 years of operational, technical and commercial experience in upstream oil and gas development and production. He began his oil industry career with BP as a sub-sea engineer in the UK North Sea before being appointed to the board of Enterprise Oil plc as Technical Director. Following Shell’s acquisition of Enterprise, he was appointed CEO of the Sakhalin Energy Investment Company, on behalf of the joint venture consortium of Gazprom, Shell, Mitsui and Mitsubishi where he was responsible for the development of over 4 Billion boe of reserves, from reservoir to consumer, including LNG processing, marketing, and shipping. Following on from this role, Ian served as EVP of Sub Saharan Africa for Shell until his retirement in April 2013. He joined Petroceltic as an independent Non-executive Director in September 2013 and is a member of the Audit Committee.

Rob Arnott

Non-executive Director

Rob has over 25 years’ experience of the upstream industry in both technical and business development roles with ten years’ direct experience in investment banking with Goldman Sachs, Morgan Stanley and UBS. He is a Research Fellow with the Oxford Institute of Energy Studies. He joined the Board of Petroceltic as an independent Non-executive Director in January 2010 and is a member of the Remuneration and Nominations Committees. He is a board member of Rocksource ASA, an exploration company focused on the Norwegian Continental Shelf and chairman of Oyster Petroleum, a private oil and gas company focused on exploration offshore UK in the North Sea.

Alan Parsley

Non-executive Director

Dr Parsley is a graduate of the University of Edinburgh, and holds both a BSc and a PhD in Geology. He initially joined Shell as an exploration geologist in 1969 before moving to Britoil in 1977. In 1988, Alan rejoined Shell in The Hague as the Head of Exploration New Ventures. He subsequently moved to Syria to take on the role of Chief Executive, Shell Syria, before returning to The Hague as Head of Exploration. Alan then moved to Australia where he was appointed as Chairman of Shell Australia, before retiring in 2004. Since retirement he has been a member of the Court of Heriot-Watt University and is a member of the Advisory Board of Kerogen Capital. Alan was appointed an independent Non-executive Director of Petroceltic in October 2012. Alan is Chairman of the Remuneration Committee and a member of the Audit Committee.

Alasdair Robinson

Company Secretary, General Counsel

Alasdair is a qualified solicitor and notary public who joined Petroceltic upon its merger with Melrose Resources. From 2007, he held the positions of Company Secretary and Corporate Finance Manager at Melrose. Prior to Melrose, Alasdair worked in law and corporate finance, latterly as a Director and Head of Corporate Finance Execution for the investment bank Noble Group which he joined in 1999. He is a law graduate of Aberdeen University, holds an MBA from Strathclyde Graduate Business School and is a member of the London Stock Exchange Regional Advisory Group.

Senior Management

David Archer

Managing Director, Black Sea

David has over 30 years’ oil industry experience, principally with BP and Texaco, prior to joining Melrose in 1999. He was previously Melrose’s country manager for Bulgaria and in that capacity had responsibility for the development of the Galata gas field. David was awarded the OBE in 2002 for services to British industry and foreign investment.

Dermot Corcoran

Head of Exploration

Dermot is a Petroleum Geologist/Geophysicist with over 25 years’ experience in technical and managerial roles in upstream oil and gas exploration companies, including Exxon, Fina, Amerada Hess and Statoil. He has experience working in the North Sea, West Africa, North Africa, Chad, Syria, Pakistan, Norway and the U.S. As Head of Exploration, Dermot is responsible for technical leadership and coordination of the Company’s exploration programme. He also contributes to the identification and assessment of new business opportunities and to the development of the Company’s strategy.

Peter Dunne

Managing Director, Group Finance

Peter is a Fellow of the Institute of Chartered Accountants in Ireland who trained in KPMG, Dublin and subsequently spent four years in Australia working for a number of listed companies. Prior to joining Petroceltic in 2009 as Corporate Finance and Commercial Manager, he was Group Financial Controller and latterly Corporate Finance & Commercial Manager for London based, AIM listed oil and gas exploration and production company, Regal Petroleum.

Stuart Harrower

Group HSES Manager

Stuart has a wealth of industry experience acquired with BP and Hess in various roles including engineering, maintenance, operations, asset and HSES management. Most recently, he has been working for Hess in the United States as their Corporate Director of Health Safety and Risk Management. He joined Petroceltic in 2013.

Didier Lechartier

Head of Business Development

Didier is a Chemical Engineer with over 25 years’ experience in Business Development and senior managerial roles in international E&P companies, including: Enron Oil & Gas, Vermilion Resources, Maurel & Prom and Afren. Didier joined Petroceltic in 2013 from Perenco where he was formerly Head of Business Development.

John Naismith

Head of Technical

John holds an MSc in Petroleum Reservoir Engineering from Imperial College London. He has 30 years’ experience in the oil and gas industry gained with Shell, Enterprise Oil, Canadian Natural Resources and Melrose, as well as in consultancy. His experience includes reservoir engineering, integrated subsurface studies, asset management, commercial and operations.

Geoff Probert

Managing Director, North Africa

Geoff has over 30 years of experience as a Petroleum Engineer and General Manager in both offshore and onshore settings. He started his career with Shell, before joining BHP Petroleum in 1998. He has worked in the North Sea, the Netherlands, Oman and Algeria, and has led operated deep water appraisal teams in the Gulf of Mexico. Geoff’s last role at BHP Billiton Petroleum was Vice-president and Country Manager for Algeria.

Robert Tapp

Managing Director, Legal

Robert has worked in a consulting and advisory capacity with Petroceltic for many years before joining as Managing Director, Legal, in 2013. During this time, he has played central roles in the Enel farm-out transaction and more recently in the establishment of the Algeria development team. Robert has over 28 years’ experience as a solicitor specialising in Oil and Gas.