Serica CFO resigns to join another oil company

Serica Energy’s Chief Financial Officer Chris Hearne has informed the company that he will resign from his position in order to take up a senior position in another listed oil and gas company.

Hearne has agreed to remain with Serica until 31 May 2015 in order to oversee the completion of the Erskine field transaction and the publication of the Company’s 2014 financial results. Serica Energy plc last year agreed to acquire an 18% interest in UK blocks 23/26a (Area B) and 23/26b (Area B) containing the Erskine Field, located in the UK Central North Sea, from BP.

Commenting on Hearne’s resignation, Tony Craven Walker, Chairman said: “Chris Hearne has given valuable service over the years he has been at Serica, during which time he has seen the Company change from a company focused on the North Sea and South East Asia, to a company with exploration interests in the Atlantic Margins, and a growing focus on production in the Central North Sea.”

“He will be relinquishing his post with Serica on 31 May 2015 and we wish him well in his new role,” Walker said.

Chris Hearne joined Serica from Intrepid Energy, an independent exploration and production company in the North Sea, where he was responsible for corporate finance for eight years. In this capacity, he contributed to the growth of Intrepid Energy from a start-up company to its sale for over US$1 billion. Prior to Intrepid he worked as an investment banker with Lehman Brothers and Robert Fleming. Hearne was appointed to the Board as Finance Director of Serica in 2005.

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