Nicholas Allen Madden will become president of the gas exploration partnership
Opportunity will
+1.85%
Base:70.4
opening:70.4
Tall:74
low:70
change:1,020,410
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. Madden is a senior figure in the oil and gas industry, a geologist by training, with over 30 years of global experience in the field of oil and gas. In view of his sex, he received an allotment without consideration of 1.5 million blocked participation shares, each of which confers the right to receive a participation unit of the partnership. The blocked units will mature in 3 batches of 500,000 shares, over a period of three years starting from January 2023.
Subject to the date of maturity, the average closing prices of the partnership’s participation units in the 30 trading days preceding the maturity date is not less than 70.4 agorot, otherwise his rights to exercise the shares will be expropriated.
Madden previously served as Senior Vice President of Statoil – Norway’s National Oil as head of the company’s international research and as chairman and director of a number of international subsidiaries of the Norwegian oil giant. Peru, Venezuela, Colombia, etc. Some of the projects in which he took part were in remote areas and in countries with a high risk component.
In the aforesaid position, Madden advised the partnership in the areas of his experience. As part of his role, he will be responsible for the development of the partnership’s business, with an emphasis on exploration and cooperation.
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