Drevdal resigns from Badger Explorer ASA
Kjell Erik Drevdal, former CEO and co-founder of Badger Explorer ASA has tendered his resignation. A new CEO, David Blacklaw, was recruited in October last year to lead the company into the commercialization phase. Blacklaw is now well into his new position and Drevdal feels the time is right to move on to other challenges.
“The Company is heading towards a new phase where different skill sets are required. Badger Explorer is a unique company and I have had the privilege of contributing to the development of an exciting technology. It is my ambition to continue as a major shareholder, and I will consequently follow the company closely and hope to contribute from outside”, says Kjell Erik Drevdal.
Drevdal was employed with Badger Explorer early 2005. He was responsible for the development processes that culminated in the technological breakthrough 2011, as well as presiding over the IPO and listing of the company on the Oslo Stock Exchange in 2007. Drevdal as Executive Vice President has recently been in charge of market development. Before joining Badger Drevdal has comprehensive experience from the oil industry, with a special focus on drilling and well technology.
“Kjell Erik Drevdal’s dedication been instrumental in creating and building Badger Explorer ASA. In his six years as CEO, he has played a vital role in the development of the company. The Board is grateful for Kjell Erik’s solid contribution and the foundation for further progress that has been established”, says Marcus Hansson, chairman of the Board of Directors of Badger Explorer ASA.
“I have taken over a company with a very solid basis. Kjell Erik has provided active support during the transition period, which I very much appreciate. I wish him the best of luck in his new ventures, and hope to be able to leverage his experience, knowledge and capabilities to the benefit of Badger Explorer ASA in the future”, says CEO David Blacklaw.
Badger Explorer ASA has commenced the commercialization phase of the Badger tool. In Q4 2011 the company was granted public funds totaling 28 MNOK (Innovation Norway and The Research Council of Norway) as a contribution to the ongoing development. Further, in Q4 the company entered into a 3-year development agreement with ExxonMobil whereby sponsorship is achieved for the Demonstrator Program that will culminate in the first commercial Badger services.
Stavanger, 12th January 2012
For further information please contact:
Marcus Hansson, Chairman of the Board, + 44 7824460691
Kjell Erik Drevdal, + 47 916 43 552
David W Blacklaw, CEO, + 47 406 44 010
Tags: