Borders & Southern Petroleum plc’s co-founder and chief executive Howard Obee will retire after leading the company for 20 years.
His replacement will be Harry Baker from 1 March 2024.
Mr Baker has nearly 24 years’ capital markets experience from previous roles with Auctus Advisors, GMP First Energy, Mirabaud Securities and Canaccord Capital as well as in the natural resources sector.
Non-executive chairman Harry Dobson said: “I’d like to thank Howard for his role in leading the company since its inception and wish him all the best in his future endeavours.
“The technical work undertaken by Howard and his team in opening up a new basin is second to none, and both I and the board are grateful for all he has done to progress the Darwin discovery to this point.
“I sincerely believe that the South Falklands Basin will achieve recognition as a world class hydrocarbon system and he can be proud of what he has achieved in his time with the company.”
Mr Baker currently holds no shares or options in Borders & Southern Petroleum.