Armour Energy appoints new CFO
Sydney-listed Armour Energy on December 20 announced the appointment of Craig Gouws as CFO.
Gouws was previously CFO at UK-listed InfraStrata, a gas storage and hydrocarbon exploration company. He also has experience at Carbon Energy and in energy consulting roles.
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"We are very excited to welcome Craig to the team. Craig will bring considerable finance and leadership experience to Armour. His appointment comes at an important time for Armour as we prepare for the McArthur demerger and IPO,” Armour CEO Brad Lingo said.
McArthur Oil & Gas will be demerged from Armour through an in-specie share distribution to existing shareholders. An initial public offering and capital raise of A$60-A$65mn ($42.7mn-$46.27mn) has been proposed to fund the acquisition of Northern basin assets from Armour and to fund forward exploration.
Following the completion of the demerger, Armour will focus on exploration in both the Surat and Cooper basins. It intends to use the funds received from McArthur for the Northern basin business to retire a proportion or all of its outstanding debt.