LONDON: Mosman Oil & Gas Limited (AIM: MSMN) announced a strategic leadership restructuring Tuesday as part of its growth strategy, including the departure of CEO Andy Carroll.
Howard McLaughlin, the company’s head of U.S. operations, will serve as interim CEO pending due diligence. Carroll, who served nearly two years as CEO after previously holding the role of technical director, helped advance Mosman’s exploration and development projects, particularly in the U.S. The company thanked him for his contributions.
As interim CEO, McLaughlin will focus on maintaining operational continuity and advancing strategic objectives. The company said it will update shareholders on a permanent CEO appointment in due course.
Mosman also confirmed the settlement of Carroll’s stock options, granted under a 2024 shareholder resolution, with completion expected by June 30, 2025.
The restructuring includes a corporate review to strengthen U.S. operations, where Mosman’s core projects are located. The company aims to optimize its leadership for growth in helium, hydrogen and hydrocarbon markets. A separate portfolio review will assess U.S. assets and Australian royalty interests to maximize shareholder value.
“We are grateful for Andy’s work and confident in Howard’s ability to lead during this transition,” said Chairman Carl Dumbrell. “We remain focused on expanding in the U.S. and delivering value to our shareholders.”
Mosman, listed on London’s AIM market, explores and produces oil, gas, helium and hydrogen across the U.S. and Australia.