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Molopo Energy Limited (ASX:MPO) Appointment of Non-Executive Director

Appointment of Non-Executive Director
 
Molopo Energy Limited (“Molopo”) is pleased to announce the appointment of Mr Brian Straub as a non-executive director on the Board of Directors (“Board”) of Molopo.
 
Mr. Straub recently retired as President - Shell Canada Limited and Canada Country Chair - Royal Dutch Shell. With over 32 years of diverse Canadian and Global Oil and Gas experience, his previous executive responsibilities have included the Oil Sands, Exploration & Production, Major Construction and Technology Development/Application.
 
A native of Alberta, Mr. Straub holds a Petroleum Engineering Degree from the University of Wyoming obtained in 1978. During his career with Shell he gained broad exploration and production experience, holding positions in key technical functions including Drilling, Production Operations and HSE as well as critical business functions such as Marketing, Joint Ventures and New Business Development for both major onshore and offshore developments.
 
Mr Straub is Calgary based. He represents an important strengthening of the Molopo Board, with particular emphasis on the North American markets, especially given the increasing importance within the Molopo portfolio of its Canadian and US Oil Projects.
 
In confirming the appointment, Molopo’s Chairman, Mr Greg Lewin said “Brian brings an extensive upstream focused technical, commercial and business skill set to the Molopo Board. His detailed knowledge of the global energy sector, in depth knowledge of Canada and strong technical focus will be valuable in unlocking the significant value inherent in the existing Molopo assets. He will be crucial to guiding Board deliberations related to future portfolio enhancements, setting of achievable business goals and delivery of performance. Brian represents a calibre of talent seldom available to junior public companies and I warmly welcome him to the Board.”
 
In accepting his appointment, Mr Straub commented “I am delighted to be able to join Molopo at this early re-building stage. Molopo has an excellent cash position from which to fund production and revenue growth, the portfolio while diverse offers opportunity for overall risk management and further potential focusing of assets. While a small company, Molopo has a proven track record of low cost entry into high value assets and I expect with my extensive technical background and local contacts that I will be able to assist this growth area from a North American perspective.”
 
This appointment further demonstrates Molopo’s commitment to rapid implementation of change. It strengthens the strategic validation process and ensures that the company is now fully compliant with listing obligations for ASX 300 companies. Efforts to further strengthen the Board will continue.
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