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Magnolia Petroleum appoints new CFO

Oliver Rigby named as new finance chief at oil & gas firm

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Oil and gas exploration and production (E&P) company Magnolia Petroleum has named Oliver Rigby as its new CFO.

In a statement, the London-listed US onshore E&P firm said the appointment would take effect by or before 30 April 2013 at the very latest. Rigby has extensive experience as a corporate financier including work for global advisory firm Deloitte where he advised small and mid-cap companies on initial public offerings, mergers and acquisitions and secondary fundraisings.

Previously, Rigby was a director of corporate finance at Daniel Stewart & Company from 2006 to 2012 where he worked with a number of AiM companies, including Magnolia.

Commenting on the appointment Magnolia COO, Rita Whittington said, "We are delighted to welcome Oliver Rigby to the Magnolia team. Having worked closely with him on our admission to AIM in 2011, Rigby’s close understanding of our Company and business model coupled with his extensive corporate finance experience makes him a valuable addition to our team."

Magnolia said it had agreed to grant Oliver 1,754,386 share options, exercisable at 2.85 pence per share, being the closing mid-market price on 23 January 2013, under a company share option scheme. The options vest after 12 months and are thereafter exercisable for a period of four years subject to the terms of the scheme.


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