Horizon Oil Limited's Chairman, Mr. Fraser Ainsworth AM, has advised of his intention to retire from the board, effective at the conclusion of the Annual General Meeting on 20 November 2015.
Mr. Ainsworth has served as Chairman of the board since April 2002. Under his leadership, the Company's portfolio has evolved from a spread of non-producing exploration ventures to material interests in two producing fields in New Zealand and China and a large gas/condensate play in Papua New Guinea, which is currently under development.
Mr. Ainsworth said that after 13 years as Chairman of Horizon Oil the time was right for him to retire from the board.
'It has been a great privilege to chair one of Australia's leading mid-cap oil and gas exploration, development and production companies and work alongside a fine management team and board.