The Board of Horizon Oil Limited (Horizon) announced the appointment of Richard Beament as Chief Executive Officer, effective 1 July 2022. Christopher Hodge, the current Managing Director and Chief Executive Officer, will step down from the role on 1 July 2022 and has agreed to assist in an orderly transition of his executive responsibilities to Richard until 31 October 2022. The Board believes that Richard is the right person to lead Horizon through the next phase of its development and growth, having developed a deep understanding of the oil and gas industry during his tenure with the company ­ including most recently as Chief Financial Officer since July 2018.

Richard has been Chief Financial Officer of Horizon since July 2018, and was appointed Company Secretary in September 2021. Richard joined Horizon as Finance and Commercial Manager in May 2010. Since that time, he has been actively engaged in arranging and managing the Group's funding, as well as managing the Group's investments in Maari and Block 22/12.

Richard has over 20 years' experience in accounting and finance, and prior to joining Horizon, held senior positions with PwC in Sydney and London. Richard holds a Bachelor of Commerce degree and is a member of the Chartered Accountants Australia and New Zealand (CAANZ).