Condor Energy Welcomes Serge Hayon as New Managing Director
CONDOR ENERGY LIMITED (CND) Share Update September 2024 Monday 30th
Condor Energy Appoints Serge Hayon as New Managing Director
Condor Energy Limited (ASX: CND) has announced the appointment of Mr. Serge Hayon as the new Managing Director, effective October 1, 2024. This strategic move comes as Condor Energy aims to advance its exploration projects and unlock significant value from its assets.
Instant Summary:
- Serge Hayon appointed as Managing Director effective October 1, 2024.
- Mr. Hayon brings over 20 years of experience in the oil and gas industry.
- Ricardo Garzon Rangel steps down from the Board but remains involved on a flexible contract basis.
- Condor Energy is focused on the Tumbes TEA in Peru, a promising exploration area with significant potential.
Appointment Details
Condor Energy Ltd (ASX: CND) has officially appointed Mr. Serge Hayon as the new Managing Director, effective from October 1, 2024. Mr. Hayon is an experienced Reservoir Engineer and Petroleum Geologist with a strong background in managing multi-disciplinary teams across various regions, including South East Asia, the Americas, and Australia.
Mr. Hayon holds a Bachelor of Science in Geology (Honours) and an MEngSc in Petroleum Engineering from Curtin University. His extensive career includes a 20-year tenure at Murphy Oil Corporation, where he most recently served as General Director / Country Manager for Vietnam. During his time at Murphy Oil, he was responsible for the overall management of the Asia business, including the successful establishment of Murphy’s entry into the Lac Da Vang oilfield in Vietnam.
Leadership and Expertise
Throughout his career, Mr. Hayon has been instrumental in delivering projects that span the entire lifecycle of oil and gas assets, from exploration and discovery to appraisal, first oil, and production. His leadership has been pivotal in the development planning and execution of both shallow and deep-water operations, maintaining a top safety record, and ensuring projects were delivered on time and within budget.
Strategic Focus
Condor Energy is currently focused on the Tumbes TEA in Peru, a region gaining industry attention due to its billion-barrel potential. The Tumbes Basin TEA covers almost all of the Peruvian offshore Tumbes Basin in water depths ranging from 50m to 1,500m. This underexplored block is surrounded by multiple historic and currently producing oil and gas fields and contains the undeveloped shallow water Piedra Redonda gas field, which holds significant contingent and prospective resources.
Mr. Hayon expressed his excitement about joining Condor Energy and contributing to the advancement of its exploration opportunities. He emphasized the company's unique position in the Tumbes TEA and its potential to drive growth and unlock significant value.
The appointment of Mr. Serge Hayon as Managing Director is expected to have a positive impact on Condor Energy's stock. His extensive experience and successful track record in the oil and gas industry are likely to boost investor confidence. The company's strategic focus on the Tumbes TEA, a region with significant potential, further adds to the positive outlook.
Investor Reaction:
Analysts are likely to view this appointment favorably, given Mr. Hayon's proven expertise in managing large-scale oil and gas projects. Investors may respond positively to the news, anticipating that his leadership will drive the company's growth and enhance its exploration efforts in the Tumbes TEA.
Conclusion:
Investors should keep an eye on Condor Energy's progress under the new leadership of Mr. Serge Hayon. His appointment marks a significant step for the company as it aims to unlock the full potential of its assets in the Tumbes TEA. Subscribe to our newsletter for regular updates and in-depth analysis on Condor Energy and other stock market news.