Sharechat Logo

NZOG chief David Salisbury resigns

Thursday 30th June 2011 1 Comment

Text too small?

New Zealand Oil & Gas (NZOG) chief executive David Salisbury has given six months notice of his resignation from the company he joined in April 2007.

Salisbury was leaving for personal reasons, the company said today.

During his time at NZOG, production started from the Tui area oil fields, and from the Kupe gas and oilfield, both offshore from Taranaki. NZOG has a 15 percent stake in Kupe and a 12.5 percent stake in Tui.

Salisbury was also at the helm at the time of the Pike River Coal disaster last November when 29 men died after an explosion ripped through the West Coast mine.

Pike River had been a subsidiary of NZOG until July 2007 when the miner became a separately listed company following an initial public offering. NZOG has a shareholding of 29.4 percent in Pike River, and was owed around $64 million in loans when Pike River went into receivership.

Today NZOG chairman Tony Radford said the board was disappointed to be losing someone of Salisbury's calibre.

"David has made a tremendous contribution during a period of growth for our business that has included many significant challenges," Radford said.

Salisbury was keen to conclude a number of important initiatives in the coming months.

A fortnight ago NZOG announced that it had been granted a prospecting permit off the coast of Tunisia, with Salisbury describing the move as part of the company's long term growth strategy.

The six-month notice period provided time for NZOG to ensure a smooth transition and a process would start shortly to recruit a replacement chief executive, Radford said.


  General Finance Advertising    

Comments from our readers

On 1 July 2011 at 4:00 pm Jan Findlay said:
All the best for your future Dave Jan
Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Debt-free NZ Oil and Gas will use cash buffer as it hunts for oil
NZ Oil and Gas cedes promising Kakapo permit after failing to attract farm-in partner
NZOG chair Griffiths backs director liability over health and safety failures
NZOG in trading halt, Tunisian oil field announcement due
NZOG returns to interim dividends after more than a decade
NZOG's first well outside NZ to spud in late Jan
NZ Oil and Gas buys interests in three Taranaki permits from Octanex
NZ Oil and Gas has $162 million to add oil and gas reserves
NZ Oil and Gas farms out quarter-stake in Kaheru prospect
NZ Oil and Gas misses out on stake in deepwater Taranaki permit