InterOil Appoints Michael Hession as Chief Executive Officer

PR Newswire

PORT MORESBY, Papua New Guinea, and HOUSTON, July 11, 2013

PORT MORESBY, Papua New Guinea, and HOUSTON, July 11, 2013 /PRNewswire/ -- InterOil Corporation (NYSE:IOC) (POMSoX:IOC) ("InterOil" today announced that Dr. Michael Hession will join the Company as Chief Executive Officer effective July 11, 2013.

(Photo: http://photos.prnewswire.com/prnh/20130711/DA45860)

Dr. Hession has over 25 years of international exploration, operation and commercial experience, most recently as a Senior Vice President at Browse LNG Development, a division of Woodside Energy Ltd (WPL.AX) ("Woodside", where he has been responsible for the development of the company's biggest hydrocarbon resource and one of the world's largest global energy projects. During his twelve-year career at Woodside, he held several high-profile roles related to the Pluto LNG Mega-Project and exploration and development of assets in North Africa and North America.

Dr. Hession began his career at BP International (BP.L) ("BP". His last position at the company was Development Manager on the Chirag Azeri Mega-Project. Prior to that, he managed exploration projects in Indonesia, the United States and Norway.

A citizen of Australia and Ireland, Dr. Hession was educated in Britain and France, earning his Doctorate in Geophysics from the University College Wales and his Bachelor's degree in Geology from the University of Hull (UK).  He also has an MBA from the London School of Economics and HEC (Paris, France).

"InterOil is at an inflection point in its history, and I expect that it will start to realize the value that it has carefully built over the past sixteen years. The certified resource at the Elk and Antelope fields is sufficient for a multi-train development which could include the PNG LNG facility, and/or an LNG facility in the Gulf Province. The monetization of PRL 15 is anticipated to be a transformational event for InterOil. The interest in energy development in PNG has never been greater and we expect to bring in additional partners to accelerate our activities. I welcome the opportunity to join such an outstanding company and be a part of its bright future. There is much work to be done and great opportunity ahead of us," said Dr. Hession.

Dr. Gaylen Byker, InterOil's Chairman and Interim CEO said, "We are delighted to have Michael join the InterOil team. He brings a wealth of experience across multiple regions in both exploration and project development. Michael has strong commercial ties in the industry and has shown great skill in liaising with partners and governments on complex projects. We look forward to his contributions to InterOil and to the people and economy of Papua New Guinea."

'jft310' pid='25525' dateline='<a href="tel:1373542 Wrote:Think this guy signed on to sell Interoil or to develop the assets and make tons of money with his options?????Hint drill baby drill

I agree this is his likely plan...I am just not sure RDS and Total share the same plan.   Time will tell....

'algon223' pid='25521' datel Wrote:

InterOil Appoints Michael Hession as Chief Executive Officer

PR Newswire

PORT MORESBY, Papua New Guinea, and HOUSTON, July 11, 2013

PORT MORESBY, Papua New Guinea, and HOUSTON, July 11, 2013 /PRNewswire/ -- InterOil Corporation (NYSE:IOC) (POMSoX:IOC) ("InterOil" today announced that Dr. Michael Hession will join the Company as Chief Executive Officer effective July 11, 2013.

(Photo: http://photos.prnewswire.com/prnh/20130711/DA45860)

Dr. Hession has over 25 years of international exploration, operation and commercial experience, most recently as a Senior Vice President at Browse LNG Development, a division of Woodside Energy Ltd (WPL.AX) ("Woodside", where he has been responsible for the development of the company's biggest hydrocarbon resource and one of the world's largest global energy projects. During his twelve-year career at Woodside, he held several high-profile roles related to the Pluto LNG Mega-Project and exploration and development of assets in North Africa and North America.

Dr. Hession began his career at BP International (BP.L) ("BP". His last position at the company was Development Manager on the Chirag Azeri Mega-Project. Prior to that, he managed exploration projects in Indonesia, the United States and Norway.

A citizen of Australia and Ireland, Dr. Hession was educated in Britain and France, earning his Doctorate in Geophysics from the University College Wales and his Bachelor's degree in Geology from the University of Hull (UK).  He also has an MBA from the London School of Economics and HEC (Paris, France).

"InterOil is at an inflection point in its history, and I expect that it will start to realize the value that it has carefully built over the past sixteen years. The certified resource at the Elk and Antelope fields is sufficient for a multi-train development which could include the PNG LNG facility, and/or an LNG facility in the Gulf Province. The monetization of PRL 15 is anticipated to be a transformational event for InterOil. The interest in energy development in PNG has never been greater and we expect to bring in additional partners to accelerate our activities. I welcome the opportunity to join such an outstanding company and be a part of its bright future. There is much work to be done and great opportunity ahead of us," said Dr. Hession.

Dr. Gaylen Byker, InterOil's Chairman and Interim CEO said, "We are delighted to have Michael join the InterOil team. He brings a wealth of experience across multiple regions in both exploration and project development. Michael has strong commercial ties in the industry and has shown great skill in liaising with partners and governments on complex projects. We look forward to his contributions to InterOil and to the people and economy of Papua New Guinea."

Don't be surprised when he starts hiring some of the people that used to work for him.  Additionally, he has had other resources available to him that will benefit IOC.  For instance, vendors, suppliers, bankers, contacts, investors, "players",etc..  It's not just the new ceo that will be migrating to IOC.