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Management change at Fletcher Challenge Energy

STOCK EXCHANGE LISTINGS: NEW ZEALAND (FEG), AUSTRALIA (FLCES), NEW YORK (FEG).

Management change at Fletcher Challenge Energy Canada

27 April 2000, Calgary – Fletcher Challenge Energy today announced a change of management in its Canadian business unit.

Jim Patek will step down from his position as General Manager of the Canadian business unit effective 8 May 2000. He will be replaced by Mark Taylor who is currently Vice President, Development and Engineering.

Greig Gailey, Fletcher Challenge Energy Chief Executive, said after 18 years with the company Jim Patek would be missed. “Jim has played a critical role in building Fletcher Challenge Energy from its beginnings as the government-owned Petrocorp, and we respect this contribution. We also respect his decision to put his family interests first and return to the United States for the remainder of his children’s pre-university education.”

Mr Gailey is pleased that Jim has agreed to remain with the company until the end of June as an executive advisor to Lloyd Taylor, Chief Operating Officer of Fletcher Challenge Energy.

While visiting New Zealand on a sailing trip in 1982, Jim Patek applied for and was appointed Operations Manager of Petrocorp Exploration. He was promoted to General Manager, Exploration & Production in 1984 and Chief Executive in 1986, continuing in this latter role when Fletcher Challenge acquired the business. Since 1996, Jim has filled senior roles in Auckland, Brunei and Canada.

Mark Taylor’s first priorities in his new position will be to work with Jim in the transition period and to position the business for the future.

Mark has been with Fletcher Challenge Energy since 1990 and has worked in the exploration and production industry for 20 years. He was born and bred in Calgary where he has also worked for Dome Petroleum and Amoco. A professional engineer, Mark has a B.Sc. in chemical engineering from the University of Calgary and is a member of APPEGA, the Association of Professional Engineers, Geologists and Geophysicists.


ends

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