“We are looking forward to leveraging Simon’s experience in respect of our ongoing arbitration regarding Ombrina Mare, and Paul’s expertise in securing FID for offshore energy projects.”
The vote appoints Hesham Mekawi, Christopher Cox, Maria Gordon, Craig van der Laan, Richard Herbert and Tom Pitts to the board with immediate effect. They all received 99.2% approval at the vote.
Capricorn chair Nicoletta Giadrossi is stepping down immediately from the board. So too is CEO Simon Thomson, in addition to Peter Kallos, Alison Wood and Luis Araujo.
Capricorn noted that it had been working on “strategic alternatives” for more than a year. However, there have been no better options, it reported, and a sale is necessary to “maximise shareholder value and the full potential of Capricorn’s assets”.
Amid mounting opposition from some investors to its proposed merger with Tullow Oil, Capricorn Energy is “assessing all options to maximise value for shareholders”.
Capricorn Energy head Simon Thomson has defended the company’s merger with Tullow Oil in an interview with the Sunday Times.
Oil and gas firm Capricorn Energy confirmed drilling is away to kick off on a North Sea prospect imminently.
Cairn Energy and Cheiron Petroleum have completed their acquisition of assets in Egypt’s Western Desert from Shell.
Cairn Energy has updated its timeline for the £330m sale of its interests in the Catcher and Kraken assets in the North Sea.
Shell has signed an agreement to sell onshore Egyptian assets to Cheiron Petroleum and Cairn Energy for $646 million.
Cairn Energy is increasing pressure on the Indian government to pay a $1.2 billion arbitration award after filing a lawsuit in the U.S.
Russia’s independent Lukoil has struck a deal to pay $300 million to Cairn Energy for a 40% stake in a licence offshore Senegal.
This week’s oil price meltdown “won’t change” any short-term plans for Cairn Energy but could offer an opportunity, the Scottish oil firm’s boss said yesterday.
Scottish operator Cairn Energy has continued its drive for profit with positive full year results for 2019.
Cairn Energy this morning confirmed its latest Senegal well has made an oil find.
Cairn Energy's chief executive today said the firm was well-positioned to deliver on behalf of its shareholders.