Karoon Energy Ltd. announced that the 2019 Karoon AGM will be held on 29 November 2019. Mr. Mark Smith, one of the founders of Karoon and its long-standing Exploration Director, has advised the Board he will not seek re-election at the 2019 AGM. Mr. Smith intends on retiring from full time executive life after completion of the Marina-1 exploration well in Peru, but will remain as an adviser to the Board for the foreseeable future. The company also has two additional non-executive directors who have advised they will be retiring over the coming calendar year, most likely at the 2020 AGM, after having provided long and valuable service to the company. Mr. Jose Coutinho Barbosa and Mr. Geoff Atkins wish to retire after the Baúna acquisition has been completed and Karoon's transformation to an oil production entity is accomplished. They have generously agreed to continue until suitable replacements are identified. The board succession plan will be implemented over the next year and will enable Karoon to appoint additional technical and commercial skills to a refreshed and more appropriately sized Board. The plan will position Karoon to maximise the shareholder benefits from its transition from pure exploration to a more significant global Exploration and Production (`E&P') company.