Published: February 23, 2016 |

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Hurricane Energy has told investors that John Hogan, non-executive chairman, is to step down in March after a three year term.

Dr. Robert Arnott will replace Hogan as the group’s chairman.

Arnott has extensive experience in the oil and gas industry and also has ten years of experience in investment banking.

Hurricane chief executive Dr. Robert Trice said: “I am delighted that we have attracted a chairman of such high caliber to Hurricane.

“This is an extremely important time for the company as we continue to progress our ongoing discussions aimed at achieving first oil on Lancaster.”

Lancaster is the group’s flagship asset. Following a successful drilling and testing program in 2014 the company has been working to plan field development and has sought an industry partner to support the project.

Importantly, Lancaster is a new type of oil resource play for the United Kingdom.

It is what’s known as a ‘basement play’. The oil is found deep in fractured basement rocks. Whilst Hurricane is the first company to prove such a play in the UK, similar projects have been successful in other parts of the world.

Lancaster is located in the West of Shetland area of the North Sea. The field was estimated, in 2010, to contain 200mln barrels of oil resources. The successful well testing in 2014 indicated production rates of around 20,000 barrels per day, per well are possible.

Source: (February 22, 2016) Proactive Investors

About Hurricane Energy
Hurricane is a new generation of oil company that exists to discover, appraise and develop oil from fractured basement reservoirs.

To stop by Hurricane Energy’s website, CLICK HERE

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