Wessex Exploration PLC is pleased to announce that Dr Malcolm Butler has been appointed non-executive chairman of the Company with immediate effect. Malcolm has extensive experience in both the operational side of the international oil and gas industry and in the financial sector for funding these enterprises. He holds a BSc in Geology from Aberystwyth and a PhD in Geology from Bristol, and worked for over 25 years as an explorationist and senior executive in the worldwide oil and gas business before taking on a secondary role as an investment banker. He was responsible, as CEO, for the IPO of two UK oil companies on the London market, Industrial Scotland Energy in 1984 and Brabant Resources in 1990. Following its acquisition of Brabant, he became CEO of Houston-based Energy Development Corporation, one of the largest operators in the Gulf of Mexico, until its $780 million sale to Noble Energy in 1996.
In 1998, Malcolm joined HSBC Investment Bank as Advisory Director and took over responsibility for oil & gas corporate finance advisory work, including mandates in the UK, Libya, Russia, Indonesia and China. While there, he set up HSBC’s renewable energy/energy technology advisory group. Since 2003, he has acted as senior adviser on energy-related matters to Seymour Pierce Limited, one of the biggest NOMAD/brokers on AIM. He is President of Waterloo Oil & Gas LLC, an exploration and production partnership active onshore Louisiana and Chairman of Brigantes Energy Limited and Corfe Energy Limited, both EIS-funded exploration companies with non-operated activities in the UK. In 1994, Malcolm was awarded the Aberconway Medal of The Geological Society of London, in recognition of his contributions to the oil and gas industry, and in 1995 he was appointed an Honorary Professor at the University of Aberystwyth.
Frederik E. Dekker, managing director of Wessex, stated: “We are delighted Malcolm has agreed to join the Company, and anticipate that Wessex and Malcolm will grow together as a very successful oil and gas exploration company.”