SINGAPORE and PORT MORESBY, Papua New Guinea, March 13, 2015 /PRNewswire/ -- InterOil
Corporation (NYSE: IOC; POMSoX: IOC) has appointed former Singapore
Power Chief Financial Officer Chee Keong
Yap to its board.
Mr Yap, 54, who is a director of the Accounting and Corporate
Regulatory Authority of Singapore,
is also a director of ARA Asset Management Ltd, The Straits Trading
Company Limited, and Tiger Airways Holdings Limited, all of which
are listed on the Singapore Exchange.
He chairs the audit committee of the non-listed Citibank
Singapore Limited. He is the chairman of CityNet Infrastructure
Management Pte Ltd and a member of Singapore's Public Accountants Oversight
Committee. He sat on the working group of the Corporate Governance
Oversight Committee of the Monetary Authority of Singapore.
Mr Yap has had a long career as an executive director, chief
financial officer and adviser to Singaporean and Australian firms,
including the Straits Trading Company Limited, Singapore Power
Limited, SPI (Australia) Assets
Pty Ltd and multi-national and Temasek-linked companies.
Mr Yap has an accounting degree from the National University of Singapore and is a fellow of
the Institute of Singapore Chartered Accountants, CPA Australia and
the Singapore Institute of Directors.
He joins the board immediately, replacing Samuel L. Delcamp who is retiring after three
years as a director.
InterOil Chairman Chris Finlayson
said Mr Yap had a proven record over many years of value creation
across multi-national listed and non-listed companies.
"His experience in executive management, corporate
restructuring, mergers and acquisitions, governance and finance
will provide InterOil with an additional skill set that will be
necessary as we develop our Elk-Antelope LNG project in
Papua New Guinea," Mr Finlayson
said.
"His knowledge of the Singapore
energy market will be particularly helpful as Singapore continues to grow as an important
trading hub for LNG in Asia."
Mr Finlayson also paid tribute to Mr Delcamp for his loyal
service to the company.
"Sam has provided invaluable advice to the board based on his 40
years of investment experience and we wish him well for his
hard-earned retirement," Mr Finlayson said.
About InterOil
InterOil Corporation is an independent oil and gas business with
a primary focus on Papua New
Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields,
Elk-Antelope, in the Gulf Province of Papua New Guinea, and exploration licenses
covering about 16,000sqkm of the Eastern
Papua Basin. The company employs more than 2,000 staff and
contractors. Its main offices are in Singapore and Port
Moresby. InterOil is listed on the New York and Port
Moresby stock exchanges.
Investor Contacts
Singapore
|
Singapore
|
United
States
|
Michael
Lynn
SVP, Investor
Relations
|
David Wu
VP, Investor
Relations
|
Cynthia
Black
Investor Relations
Coordinator
|
T: +65 6507
0222
E:
michael.lynn@interoil.com
|
T: +65 6507
0222
E:
david.wu@interoil.com
|
T: +1 212 653
9778
E:
cynthia.black@interoil.com
|
Media Contacts
Singapore
|
Australia
|
|
Robert
Millhouse
VP, Corporate
Affairs
|
John Hurst
Cannings Corporate
Communications
|
|
T: +65 8112
5694
E:
robert.millhouse@interoil.com
|
T: +61 418 708
663
E:
jhurst@cannings.net.au
|
|
Forward Looking Statements
This media release includes "forward-looking statements" as
defined in United States federal
and Canadian securities laws. All statements, other than statements
of historical facts, included in this release that address
activities, events or developments that InterOil expects, believes
or anticipates will or may occur in the future are forward-looking
statements. These statements are based on our current beliefs as
well as assumptions made by, and information currently available to
us. No assurances can be given however, that these events will
occur. Actual results could differ, and the difference may be
material and adverse to the company and its shareholders. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the company,
which may cause our actual results to differ materially from those
implied or expressed by the forward-looking statements. Some of
these factors include the risk factors discussed in the company's
filings with the Securities and Exchange Commission and on SEDAR,
including but not limited to those in the company's annual report
for the year ended 31 December 2013 on Form 40-F and its
Annual Information Form for the year ended 31 December 2013. In particular, there is no
established market for natural gas or gas condensate in
Papua New Guinea and no guarantee
that gas or gas condensate from the Elk and Antelope fields will
ultimately be able to be extracted and sold commercially. Investors
are urged to consider closely the disclosure in the company's Form
40-F, available from us at www.interoil.com or from the SEC at
www.sec.gov and its Annual Information Form available on SEDAR
at www.sedar.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/former-singapore-power-cfo-joins-board-300050145.html
SOURCE InterOil Corporation