As foreshadowed at the 2017 annual general meeting of Horizon Oil Limited, Brent Emmett and Alan Fernie will retire from the company on 30 June 2018. Also as foreshadowed, Horizon Oil's Chief Financial Officer, Michael Sheridan, will assume the role of Chief Executive Officer. Brent joined the board of Horizon Oil in 2000 and has led the management of the Company since 2002.

Alan Fernie has led the Company's technical team in a period during which the Company has participated in the appraisal and development of the Maari/Manaia fields in New Zealand and Block 22/12 in China, and he has managed, as operator, the acquisition of seismic, exploration, appraisal, and development drilling operations and development planning which has built and confirmed the large gas and condensate resource base that will supply the Western LNG project in PNG. Michael Sheridan will replace Brent Emmett as Chief Executive Officer and as a Director of the company with effect on 1 July 2018. Michael has been Horizon Oil's Chief Financial Officer and company Secretary since 2003.

He has been responsible for the company's financial, commercial and legal affairs. Prior to joining Horizon Oil, Michael held positions with international resource companies including Ampolex Limited, RGC Limited and Minera Alumbrera Limited in commercial and financial management areas. Michael has been an integral member of Horizon's executive management team, along with Brent Emmett and Alan Fernie, and this will ensure continuity as Horizon Oil moves to the next stage of its growth.

Richard Beament will assume the role of Chief Financial Officer. Richard is presently Horizon Oil's Finance and Commercial Manager. He has had line management responsibility for the company's statutory and joint venture accounting, treasury, taxation and insurance matters.

Andrew McArdle recently joined the Company and, on Alan's retirement, will assume the role of Chief Operating Officer. Andrew is a petroleum engineer and has joined the company from Japan Australia LNG (MIMI) Pty Ltd. where he was most recently the Head of Development. Kylie Quinlivan has been the company's Corporate Counsel since 2016 and will be appointed as General Counsel and Company Secretary with effect on 1 July 2018.

Kylie joined the company from Minter Ellison, practicing corporate law and specialising in mergers and acquisitions. Also as advised at the 2017 annual general meeting, both Brent and Alan have been retained in consultancy roles for a period of time to provide ongoing advice to the board and management.