The company said that it is recruiting a qualified, US based financial controller. And it will base its finance team in the US as well.
Jorgensen will continue to work with Northcote to effect an orderly transition whilst the company considers new appointments, it added.
“We have built a strong finance team in Dallas so that reporting and accounting functions are close to operations,” said chief executive Randall Connally.
“We will be announcing additions to our board of directors in due course with an emphasis on increasing both US and oil industry presence.”