HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) has appointed Keith Spickelmier as non-executive chair, replacing David Minchin with immediate effect.
Minchin has led the company since its formation in September 2023.
He oversaw its AIM admission in April 2024 and helped secure £17.75 million in equity funding. He will step down as the company moves into its production phase.
"Having worked with Helix since its inception in September 2023, I am proud of the growth and significant milestones we have achieved,” Minchin said in a statement.
“It is rare to take a company from IPO to production in less than 18 months and requires skill and determination as well as excellence in execution.”
He added: “The next stage of Helix's development requires new leadership with a skillset better suited to a producing company with positive cashflow and M&A opportunities.”
Spickelmier has over two decades of experience in the energy sector, and, has been on the Helix board as non-executive director since April 2023.
He co-founded and chairs Sintana Energy Inc, a TSX Venture Exchange-listed company with hydrocarbon assets in Colombia, Namibia, and Angola. He also co-founded Discovery Energy in Australia and founded Westside Energy Corp, sold in 2008 for about $200 million.
Spickelmier added: “The company is currently in a very strong position; fully financed with supportive institutional investors, four production wells already drilled with a fifth on the way, and production plant construction commenced and going well.”