New Empire CEO appointed Martin Kovacs, 19 Jul 2017

Empire Oil & Gas has advised that Angus Walker has been appointed its new Chief Executive Officer, with current Chief Executive Officer Ken Aitken, who will be available to assist Walker with the management transition, to step down immediately.

Empire advised that Walker has a range of experience in the oil and gas sector, including commercial, strategic and capital markets expertise, along with operational experience, having held the role of Head of Energy, Asia Pacific, at Canaccord Genuity Group, and positions with Bell Potter Securities, Patersons Securities, Ernst & Young and Shell Australia.

Empire Chairman Tony Iannello thanked Aitken for his efforts over the previous three years.

“When Ken joined the company, the Red Gully production facility was struggling and our exploration program needed a revamp,” Iannello commented. “Ken and his team fixed the plant’s performance, so its production and operational uptime are optimised, generating important revenue for the business; improved operational efficiency to enhance profit margin; increased our focus and exposure on the north Perth Basin, and progressed several exciting prospects in our exploration permits to drill-ready status.

“The company’s next phase of development is focused on the exploration of these high-impact, drill-ready prospects. It is crucial that we attract funding to drill, appraise and develop the company’s extensive suite of Perth Basin assets, and Mr Walker has the demonstrated skills to achieve this important goal, supported by Empire’s highly experienced exploration and technical team.

“I am delighted that Angus has expressed his confidence in the company’s future success by accepting this key leadership role with a remuneration structure that is predominantly performance-based. I and the rest of the board are looking forward to working closely with him.”

Walker stated that he is “pleased to take up this exciting opportunity”.

“Empire Oil & Gas’ assets are strategically placed in the increasingly important Perth Basin area,” he commented. “There are extensive opportunities for us to grow our production and partner with strategic industry participants to leverage value for all shareholders.”

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