Premier Oil Announces Appointment of Chief Financial Officer

Source: www.gulfoilandgas.com 1/25/2021, Location: Europe

Further to the publication of its prospectus and circular on 16 December 2020 in connection with the proposed merger between the Company and Chrysaor Holdings Limited by way of a reverse takeover (the "Merger"), Premier announces the proposed appointment of Alexander Krane as Chief Financial Officer. Alexander will be appointed with effect from the later of completion of the Merger and 15 April 2021. He will replace Richard Rose who will resign from his role as Interim Chief Executive Officer and Finance Director with effect from the same date.

Alexander Krane has over 20 years of experience from holding various accounting, controlling and executive roles in the energy industry. Alexander started his career at KPMG, working in both Norway and the US from 1999 to 2006. After working as Group Controller for Norse Energy Corp., a junior E&P company with operations in Brazil and onshore US, Alexander joined Aker ASA as Corporate Controller in 2010. In 2012, Alexander joined Det norske oljeselskap ASA as Chief Financial Officer, responsible for all financial functions as well as strategy, business development and M&A. After the merger with BP Norway in 2016, Alexander remained Chief Financial Officer of the merged entity, Aker BP ASA. In 2019, Alexander left Aker BP ASA to become Investment Director at Aker ASA, responsible for Aker ASA's oil and gas investments. Alexander holds a Master of Science in Business from The University of Nordland and an MBA from The Norwegian School of Economics. Alexander is also a State Authorized Public Accountant in Norway.

A new service agreement will be put in place between Alexander and Premier following completion of the Merger. It is intended that the terms will be appropriate for an executive director of a group of the size, complexity and nature of the Company following completion, which will take into account appropriate and recognised benchmarking and existing remuneration arrangements.

There is no further information to be disclosed pursuant to Listing Rule 9.6.13 in connection with this appointment.


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