Oilex to get new MD next month

Vol 16, PW 24 (27 Jun 13) News in Brief
     

Expect a new MD at Australian explorer Oilex by end-July.

Oilex has hired a recruitment consultant to fill the MD post vacated by Bruce McCarthy, who stepped down in November 2012 because of a nagging backache. Perth-based chartered engineer and Oilex board member Ron Miller took over as acting MD in November and is receiving an additional $10,000/month.

Besides Miller, other internal candidates in the race are Gandhinagar-based chief operating officer Mike Maloney and chief geoscientist Pete Bekkers. Maloney, who joined Oilex a year ago, has 40 years experience.

The board has yet to decide whether the new MD will be based in Australia or Gandhinagar in India. An Oilex source jokes that former MD McCarthy got his backache because of the frequent return flights from India to Australia.

Today, McCarthy has a non-executive role on the board. Oilex is in the process of hiring a 2000-hp rig to drill one firm and four optional wells at the pre-NELP Cambay block it shares with GSPC.