David Blacklaw Appointed New CEO at Badger Explorer ASA

The Board of Directors of Badger Explorer ASA is pleased to announce the appointment of David Blacklaw as the new Chief Executive Officer effective from 5 October 2011. Mr. Blacklaw has extensive experience with leading companies within the oil services sector, such as Well Dynamics and Schlumberger. This appointment serves as part of the Board’s ongoing initiative to provide the resources and management to ensure that the Company will succeed in the future stages of its development. Mr. Blacklaw will bring valuable international experience and a proven track record of commercial development to Badger Explorer ASA and the current CEO Kjell Erik Drevdal will take up the new position of Executive Vice President to focus on market development.

The Chairman of the Board Marcus Hansson stated: “I am delighted by the arrival of David Blacklaw; he brings vital expertise and networks from the international oil service industry and has a strong track record of evolving technical projects to commercial success. He will put the Company in the best position to achieve the challenging commercial and technological tasks ahead”. Mr. Hansson continued by paying tribute to the contribution of Kjell Erik Drevdal, who has led the Company for the past six years: “Mr. Drevdal has been key for Badger Explorer ASA’s success to date and he took actively part in the search for his successor. Mr. Drevdal will also play a vital role in the future”.

David Blacklaw (51) has more than 30 years experience from the international oil services sector. Currently in Houston (USA), he has for the last few years served as CEO of recognized international technology companies. Between 1990 and 2008 he held senior positions with Well Dynamics, Wood Group and Schlumberger. Blacklaw speaks Norwegian and has previous job experience from the Norwegian continental shelf.

Mr. Blacklaw has been granted 370.579 share-options in Badger Explorer ASA at a strike price of NOK19.00 per share. The options must be exercised in September 2014.

“Leading Badger Explorer is as a once in a lifetime opportunity” said Blacklaw. “I am looking forward to getting started and to managing the Company to commercial success. In the future the Badger Explorer technology will revolutionize the exploration and production of hydrocarbons and especially in meeting the challenges of frontier developments. I am grateful for the opportunity to head the Company on this exciting journey”.

Stavanger, 21 September 2011

For further information please contact:
Marcus Hansson, Chairman of the Board, +44 782 4460 69
Kjell Erik Drevdal, CEO, +47 916 43 552

 

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Hunter Group ASA is a publicly traded investment company listed on the Oslo Axess. Hunter Group currently has 7 high spec VLCC's with scrubbers, of which four are under construction at DSME in Korea, and three have been delivered.

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