The Board of Horizon Oil Limited (Horizon) announced the appointment of Richard Beament as Managing Director, effective 1 July 2022. Christopher Hodge, the current Managing Director and Chief Executive Officer, will step down from the role on 1 July 2022 and has agreed to assist in an orderly transition of his executive responsibilities to Richard until 31 October 2022. The Board believes that Richard is the right person to lead Horizon through the next phase of its development and growth, having developed a deep understanding of the oil and gas industry during his tenure with the company ­ including most recently as Chief Financial Officer since July 2018.

In other changes to the leadership team, and with effect from 1 July 2022: Gavin Douglas will assume the role of Chief Operating Officer, having previously held the position of Group General Manager ­ Production & Exploration. Gavin is a geologist with over 25 years of oil and gas experience, having joined Horizon in 2014. Vasilios (Vas) Margiankakos will assume the role of Company Secretary, as well as continuing his role as Horizon's Group Tax Manager.

Vas joined Horizon in 2017. Richard has been Chief Financial Officer of Horizon since July 2018, and was appointed Company Secretary in September 2021. Richard joined Horizon as Finance and Commercial Manager in May 2010.

Since that time, he has been actively engaged in arranging and managing the Group's funding, as well as managing the Group's investments in Maari and Block 22/12. Richard has over 20 years' experience in accounting and finance, and prior to joining Horizon, held senior positions with PwC in Sydney and London. Richard holds a Bachelor of Commerce degree and is a member of the Chartered Accountants Australia and New Zealand (CAANZ).

Gavin has been Horizon's General Manager ­ Exploration and Production since July 2020. Gavin joined Horizon as Subsurface Manager in September 2014. Gavin is a geologist with over 25 years of exploration, development and production oil and gas experience, and has 15 years experience in technical managerial positions, including leading multidiscipline technical teams in Australia, and throughout South East Asia and the Middle East.

Prior to joining Horizon, Gavin was the Well Delivery Manager with Oil Search and Subsurface Manager with Eaglewood Energy. Gavin holds an Honours Degree in Geology and a Masters in Reservoir Evaluation & Management. He is a member of the American Association of Petroleum Geologists (AAPG) and a member of the Society of Petroleum Engineers (SPE).

Kyle has been Horizon's Group Financial Controller since February 2018 and was appointed Assistant Company Secretary in November 2018. Kyle is a Chartered Accountant with expertise in financial risk management and reporting across a range of sectors, in particular, oil and gas. He has 10 years' experience including working in top tier accounting practices such as EY and KPMG.

Kyle holds a Bachelor of Accounting (Hons) degree and is a member of the South African Institute of Chartered Accountants. Vas has been Horizon's Group Tax Manager since October 2017. Vas has over 20 years' experience in corporate and international taxation and mergers and acquisitions across a vast number of industries including oil and gas, banking and financial services, infrastructure, media, manufacturing and consumer goods, and technology.

Prior to joining Horizon, Vas was Head of Tax at Bravura Solutions Limited and BBC Worldwide Australia (now BBC Studios), prior to which he held a number of senior tax positions at top tier accounting practices such as EY, Deloitte and KPMG. Vas holds a Bachelor of Economics degree from the University of New South Wales.