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TAG Oil Ltd. has hired Mr. Max Murray as TAG Oil's New Zealand Country Manager, based in New Plymouth, New Zealand. Mr. Murray will replace Mr. Randy Toone who has resigned to return to Canada for personal reasons and to focus on mid-stream business opportunities in North America.
Mr. Murray's thirty years of operational and proven executive leadership in the oil and gas industry, and in particular his thorough understanding of the New Zealand oil and gas landscape, is a strong fit for TAG as the Company evolves from a junior explorer into one of the busiest integrated explorers and producers of oil and gas in New Zealand.
Over the past six years with Origin Energy, Mr. Murray has achieved consistent progression of executive growth; his most recent position as Manager Production Upstream E&P and Senior in Country Manager for New Zealand saw him accountable for the safe and efficient operation of all Origin producing assets across Australia and New Zealand. With an annual Origin operating budget of more than AUS$300 million, revenues of $600 million and capital expenditure of AUS$130 million, Mr Murray has a proven track record of successful leadership. Prior to Origin, Mr. Murray has held senior positions with Swift Energy New Zealand, Ras Laffan Liquefied Natural Gas Co. Ltd., and Methanex New Zealand.
Mr. Murray will be accountable for all TAG's New Zealand based operations and executing the Company's annual, three and five year business plans, as well as identifying new opportunities to accelerate business growth. Mr. Murray has extensive experience ensuring operations are consistently performed safely and to a high standard, and vital to TAG, underpinned by the Company's core values. His background in Health, Safety and Environmental best practice is evidenced by Mr. Murray's appointment to the Worksafe New Zealand advisory panel.
TAG Oil CEO Garth Johnson commented, "I would like to thank Randy for his efforts wish him all the best in his future endeavours and, including the implementation of newly adapted best practice management systems, significantly improving the Company's effectiveness. We are also very happy to welcome Max to the TAG team. With a $60 million capital investment program already underway for fiscal 2015, Max's leadership will enable TAG to continue to grow safely yet at a very quick pace."
The Company also announces that it will grant a total of 200,000 incentive stock options to Mr. Murray when he begins his employment with TAG on September 1, 2014 at market price the day prior to his start, exercisable for a period of five years, subject to certain vesting provisions.