InterOil Corporation announced the retirement of its founder and Chief Executive Officer, Phil Mulacek, effective April 30, 2013. Mr. Mulacek will continue as an InterOil director and will provide advisory services to the Company.
“Phil Mulacek is a remarkable visionary, engineer and entrepreneur who built a successful integrated oil and gas company from a concept to an NYSE-listed company with a US$3.5 billion market capitalization,” said Dr. Byker. “Mr. Mulacek pioneered InterOil’s exploration activities in the Gulf Province of Papua New Guinea (PNG) that resulted in the discovery of the Elk/Antelope and Triceratops fields which contain in total a best case estimate of 1.6 billion BOE of contingent resources.”
“This is an unusual feat, seldom accomplished in any field,” Dr. Byker added. “We are thankful for Phil’s many years of dedication and hard work, and pleased that he will advise the Company as we continue our very successful exploration program and work to finalize our LNG partnership arrangements with the PNG Government and an internationally-recognized LNG operator.”
Reflecting on his departure, Mr. Mulacek expressed gratitude for the opportunity to guide the firm from its corporate inception in 1997 through its landmark world-class natural gas and condensate discoveries.
“It has been my privilege to work with all of our InterOil employees, associates, partners, and with the people of PNG through the years, with many of whom I have developed long-term friendships,” Mulacek said.