Over the past two years, Nido has identified the upside in its existing asset base of production and exploitation assets in the Philippines. The change from an exploration focus to a production focus has lead to the appointment of the new managing director who it is hoped, along with two new board members, have the right skills and experience to develop the company as a producer.

Initially the focus will be the producing Nido and Matinloc fields and the development of the Galoc Field in the Northwest Palawan Basin, offshore Philippines.

With 23 years oil experience David Whitby will take on the managing director position. Following on from roles such as managing director of Gulf (Australia) Resources Ltd, operating the Jabiru and Challis oilfields, vice president corporate development Gulf Indonesia Resources Ltd and vice president of Heavy Oil for Husky Oil in Canada.

Whitby also had great success in developing greenfield gas projects in Indonesia, including most lately as project director of the West Java Gas Project for ConocoPhillips.

Petroleum geologist Gregor Dixon and experienced energy consultant James Brown will also be appointed as non-executive directors. Brown was formerly a first vice president of Merrill Lynch and head of Merrill Lynch’s energy research group, based in Sydney and Singapore.

The new executives come as part of a new shareholder base, with Perth oilfield investment group, Petroleum Ventures, injecting $500,000 at 1.6 cents.

Whitby said that the combination of new executive strength and good oil and gas assets

would create a strong new independent oil and gas company.

"Nido's assets present a tremendous opportunity for the right team of regional experts to add value. The new executives have extensive contacts and experience in the Asia-Pacific region where building strong relationships with partners and local players is as important as the assets.

"The technical preparation of the assets by Nido and their partners is impressive and will be the catalyst for the new team," Whitby said.

Since Novus Petroleum Ltd sold its shareholding in Nido in 2002, Nido has focused on its discovered and producing fields, increasing the known reserves in Nido and Galoc and negotiating with farm-in partners to develop Galoc and increase production at Nido and Matinloc.

Former managing director Charles Morgan will remain on the board as chairman.