Karoon Energy Names Julian Fowles As New CEO

(Karoon Energy, 26.Oct.2020) — Karoon Energy Ltd announced Dr Julian Fowles has been appointed as Chief Executive Officer and Managing Director. Dr Fowles will commence with Karoon immediately following the conclusion of Karoon’s annual general meeting on 27 November 2020.

Karoon Chairman, Bruce Phillips said, “After an extensive and rigorous global search process, we are delighted Dr Fowles has agreed to join Karoon as its new Chief Executive Officer and Managing Director. Julian is a highly experienced petroleum industry executive who has had a successful international career with Shell International, Cairn Energy, Petra Energia and Oil Search. Julian’s deep upstream experience in international leadership roles, including CEO experience in Brazil, and company building success will be of great benefit to Karoon as it transitions from a pure exploration company into a profitable E&P entity.”

Dr Julian Fowles said, “I am looking forward to the opportunity to lead Karoon Energy at this exciting time for the Company as it seeks to consolidate the acquisition of the Baúna asset and in the next phase of its growth as a substantial oil and gas production company.” A summary of the material terms of the CEO Employment Agreement is set out in the Appendix to this announcement.

Dr Julian Fowles Biography

Dr Fowles started his career with Shell International where he spent 17 years working in global assignments, including 5 years as the Exploration and New Ventures Manager in Shell Brazil. He is an experienced petroleum industry professional with over 30 years in broad international leadership roles, including with Cairn India, Petra Energia (a successful $1bn+ E&P private enterprise in Brazil), and Oil Search where he led the PNG operated and non-operated oil and LNG production and development businesses.

Dr Fowles speaks Portuguese and also has extensive international board, shareholder and analyst engagement experience.

Dr Fowles will relinquish the two non-executive director positions he currently holds in other ASX-listed companies to concentrate on his new role at Karoon. Dr Fowles is a Graduate of the Australian Institute of Company Directors and holds a BSc (Hons) degree from the University of Edinburgh and a PhD from the University of Cambridge.

Dr Fowles also holds a Graduate Diploma in Applied Finance and Investment.