Wessex Exploration, the Bristol-based firm prospecting for oil off the coast of South America, has appointed industry stalwart Dr Malcolm Butler as non-executive chairman (pictured).
Dr Butler has extensive experience in both the operational side of the international oil and gas industry and in the financial sector for funding these enterprises.
He replaces veteran Bristol oil industry entrepreneur David Bramhill, who parted company with Wessex last month.
Dr Butler holds a BSc in geology from Aberystwyth and a PhD in geology from Bristol and worked for more than 25 years as an explorationist and senior executive in the worldwide oil and gas business before taking on a secondary role as an investment banker.
He was responsible, as chief executive, for floating two UK oil companies on the London Stock Exchange – Industrial Scotland Energy in 1984 and Brabant Resources in 1990. When Brabant was acquired by Houston-based Energy Development Corporation, one of the largest operators in the Gulf of Mexico, he became its CEO, serving until its $780m sale to Noble Energy in 1996.
In 1998 he joined HSBC Investment Bank as advisory director and took over responsibility for oil and gas corporate finance advisory work, including mandates in the UK, Libya, Russia, Indonesia and China. He also set up HSBC’s renewable energy/energy technology advisory group.
Since 2003 he has acted as senior adviser on energy-related matters to Seymour Pierce, one of the biggest NOMAD (nominated advisers)/brokers on the London Stock Exchange’s AIM market. He is president of Waterloo Oil & Gas, an exploration and production partnership active onshore Louisiana, and chairman of Brigantes Energy and Corfe Energy, both EIS (Enterprise Investment Scheme)-funded exploration companies with non-operated activities in the UK.
In 1994 he was awarded the Aberconway Medal of The Geological Society of London in recognition of his contributions to the oil and gas industry, and in 1995 was appointed an Honorary Professor at the University of Aberystwyth.
Wessex managing director Frederik E. Dekker said: “We anticipate that Wessex and Malcolm will grow together as a very successful oil and gas exploration company.”
Wessex is a part shareholder in the Guyane Maritime Exploration Licence off the coast of Guyane, (formerly French Guiana) South America, operated by Shell, through its 50% holding in Northpet Investments. Northpet has a 2.5% interest in the licence.
