EFL Overseas said it has appointed Henry Aldorf as Chairman of its Board of Directors, and James Hutton as EFLO President and Director.
“ Henry and James are very welcome additions to the EFLO team ,” stated EFLO Chief Executive, Keith Macdonald. “ These are world-class executives. They’ve proven themselves time and again in both the industry and capital markets. Their skills, executive experience and market savvy are exactly what we need as we complete of our planned acquisition of the Kotaneelee gas fields and processing facilities. ”
Mr. Henry Aldorf is President of Pacific LNG Operations Ltd. and President of Liquid Niugini Gas Limited. Pacific LNG Operations Ltd., an affiliate of Clarion Finance PTE Ltd., is a substantial indirect interest holder in the Elk and Antelope gas discoveries in Papua New Guinea, and 47.5% LNG partner in Liquid Niugini Gas Limited with InterOil Corporation. Prior to his tenure at Pacific LNG Operations Ltd., Mr. Aldorf was the President of Marathon International and Vice-President Global Upstream of Marathon Oil.
“ I look forward to joining EFLO as Chairman of the Board “, stated Mr. Aldorf. “ Once the Kotaneelee is in hand, the Company’s conventional and unconventional resource base, gas plant and strategic location will enable it to be involved in such gas monetization developments as gas to power and liquid natural gas (LNG) both for domestic use and future exports. With my long experience in gas monetization I am ready to assist the management with these exciting opportunities and help build EFLO as an important supplier of clean energy. As a team, I believe we can create substantial shareholder value, and having access to the engineering, pipeline and LNG capabilities of important current and future shareholders such as Holloman Corporation and Pacific LNG will be an important factor in the success of EFLO .”
Mr. Hutton has spent his career in the financial services industry and for the past 25 years has specialized in structured finance and resource company finance. Between 1998 and 2006, Mr. Hutton designed and executed in excess of $1,400,000,000 in flow through share resource financings for the Canadian energy and mining sectors. Mr. Hutton is the President and Chief Executive Officer of Hutton Capital Corporation, a company engaged in investment banking. He also serves as director of several Candian resource sector companies.
“ I am very pleased to be joining EFLO as President and Director “, Mr. Hutton said. “ The Company’s strategically timed acquisition of Kotaneelee will position EFLO as a low cost producer for the future. The Kotaneelee gas field and 70MMCFD gas plant combined with its conventional and unconventional development opportunities provide significant scale and upside. I look forward to working with the management team in creating a shareholder value proposition poised for future export opportunities as well as domestic markets. The Company’s relationships with Holloman Corporation of Houston, Texas and Pacific LNG of Singapore provide breadth and depth in both technical development and understanding of the opportunities in both gas and LNG markets .”
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LNG World News Staff, June 22, 2012