DUBLIN — The board of
Barryroe Offshore Energy Plc has appointed Alan Curran CEO. Curran has held the role of interim CEO since July 4, 2022.
In addition, the board has promoted Colin Christie to CFO-elect, effective Feb. 1, 2023. Christie joined the Barryroe team as corporate finance adviser in November 2022.
As announced in December 2022, CFO Simon Brett will step down Feb. 28, 2023.
Curran and Christie will work closely on a smooth handover of responsibilities and duties over the coming weeks.
Barryroe Offshore Energy is an Irish company with a controlling interest in a significant oil and gas discovery in shallow water offshore West Cork. An appraisal program, necessary before field development can begin, awaits government approval.
Alongside the agreement reached in November 2022 and as updated in mid-January, for a €40 million ($43.6 million) convertible loan note that put in place funding for the Barryroe appraisal program, which remains subject to ministerial consent, these appointments further underscore the board's commitment to pursue fully the potential of the Barryroe Field.
Barryroe Field is in 100 m of water and about 50 km offshore Cork. The company says it is one of the largest undeveloped oil and gas fields offshore Europe and has been independently assessed to potentially contain about 350 MMbbl of recoverable oil/gas.
The company holds an 80% working interest in and is operator of SEL 1/11, which contains the Barryroe oil accumulation.
02.01.2023
