Long-standing chairman of Buru Energy Eric Streitberg has retired from the board of the oil and gas company, with its non-executive director David Maxwell taking the reins.
Since Buru Energy’s inception through the demerger from ARC Energy after its takeover, Mr Streitberg has held the roles of both executive and non-executive chair.
The oil and gas explorer and developer is focused on the Canning Basin, in the Kimberly, namely its Rafael 1 wet gas discovery.
Effectice today, Mr Streitberg has retired from the role of chair and resigned from being a director of the company.
“As a founding shareholder, Chairman and Director of Buru for 14 years I am very pleased to leave the company in the capable hands of the new chair David Maxwell and chief executive Thomas Nador,” Mr Streitberg said.
“Buru has an exciting future both in the near term with the planned drilling program and the development of the game changing Rafael gas condensate field which also has the potential for further value accretive discoveries.
“My time at Buru has been exciting, and at times very challenging. The Buru team has persevered and set the company up for future success.”
Further, Mr Streitberg said he was grateful for the friendships made amongst the traditional owners in the Kimberley during his time at Buru.
“I wish them and the company all the best for the future,” he said.
Incoming chair Mr Maxwell thanked Mr Streitberg for his work in building the company.
“His commitment and dedication is greatly appreciated. I look forward to working with the Buru team with the objective to grow the value and create opportunities for all stakeholders,” he said.
Buru’s shares closed down 1 per cent to 9 cents apiece.
