The Board of Directors of MEO Australia Limited (MEO or the Company) announced that Managing Director and Chief Executive Officer, Mr Jürgen Hendrich, has entered into a new employment agreement with MEO and will continue in the position of Managing Director and Chief Executive Officer with effect from 1 st July 2011.
Mr Hendrich signed an executive service agreement in 2008 which was for a 3 year term ending on 1 st July 2011.
MEO Chairman, Mr Nicholas Heath , said the Board was delighted that Jürgen has agreed to continue in the role of Managing Director and Chief Executive Officer and can continue his efforts to build the Company. “Jürgen and his team have worked tirelessly to add value to the Company by pursuing a range of project opportunities and securing material cash value for the Company’s exploration permit interests. Jürgen is committed to maintaining the Company’s growth and building a sustainable business” said Mr Heath.
Mr Heath highlighted the farmout to Petrobras in WA-360-P in 2010, the farmout to ENI in NT/P68 in 2011, the safety and environmental performance of the company during the drilling of the Artemis-1 and Zeus-1 exploration wells, recruitment of high calibre staff, and the recent announcements on acquiring exploration acreage in Indonesia as some of the key achievements during Jürgen’s initial three year term.
[mappress] Source:MEO Australia , July 1, 2011;