CEO Nicholas Mather has resigned from the board of Arrow to become one of Bow Energy’s founding directors.
The new CEO, Nick Davies, was previously Arrow’s chief operating officer. Before joining Arrow in January, Davies was president of BP Asia-Pacific Gas and Power, based in Tokyo. With 25 years of oil and gas experience, he has overseen the appraisal and feasibility studies of project areas where Arrow is now poised to develop considerable gas reserves and expand its current 14PJ/pa of conditional gas sales MOUs.
Bow intends to complete a capital raising and ASX listing in coming months. Its capital structure and assets and the timetable for the in specie distribution to Arrow shareholders of shares in Bow are currently being finalised.
Arrow has significant coal seam methane close to Queensland gas markets. It plans to concentrate in the near future on proving up its Kogan North and Tipton West coal seam gas projects in the Surat Basin near Dalby, an area which it argues will emerge as a ‘nationally significant’ energy province.
