United Oil & Gas is replacing its CFO, David Quirke, with Peter Dunne, as of today.
Dunne will become a director and company secretary at the AGM, on June 1. Quirke will step down at the same day but remain with United to assist in the transition.
United CEO Brian Larkin welcomed Dunne. “Peter brings a wealth of experience and expertise that will help the company deliver on our strategy of growth. Peter’s strategic, financial, capital markets and treasury expertise will be invaluable to the company, adding to its strength and depth as we continue to grow the business.”
© Supplied by Boru EnergyDunne joins from a role as CFO at Boru Energy. He has previously worked at Origin Enterprises and at Petroceltic International.
“I am very excited to be joining United at this time as the potential for value creation is significant given the strengthened balance sheet and the near-term growth opportunities that exist,” Dunne said.
“I look forward very much to partnering with Brian, Jonathan and the team and to contributing to the company’s ambitious growth plans.” The statement reported Dunne had 0.0
United did not disclose what Quirke planned to do next.
The company published its 2021 results in late April. Larkin, at the time, said the company had an “asset base leveraged to the higher oil price environment and with a strong balance sheet which provide a platform for growth”.
On the hunt
United is working on a five-well campaign in Egypt and is also working to bring in a partner to back its exploration plans in Jamaica. United took over the Walton Morant licence in Jamaica in 2020, with Tullow exiting.
Speaking to Energy Voice in March, Larkin said there were a number of “crumbs” left behind by the majors.
“There’s a lot of opportunities for small companies with track records, strong boards and capable executives. There’s so many opportunities right now – I’m the most excited I’ve ever been, particularly in Africa and South America.”
He also sounded positive on exploration risk. “We understand that everyone wants production but it’s the cyclical nature of the business. There have been very few large discoveries in recent years.”
Ex-Tullow Oil management launched Boru in 2019, with Dunne joining late that year.
Boru launched with a plan to build a West African business. It considered a number of potential options, including Occidental Petroleum’s Ghana business and some Angolan opportunities. However, Boru has not yet completed a deal.
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