Dana chief quits after KNOC takeover

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Wednesday 20 October 2010 7:24 pm Dana chief quits after KNOC takeover whatsapp Show Comments ▼ Sharecenter_img Tags: NULL Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo whatsapp THE chief executive and founder of Dana Petroleum, Tom Cross, has resigned after the hostile takeover by the South Korean firm KNOC.Cross had opposed the takeover bid by South Korea’s state oil company but told City A.M. yesterday that the final deal was a “win win” for both parties.He walked away with an estimated £36m from the sale of Dana, which he set up in 1994 to specialise in North Sea oil projects.KNOC took control of the Aberdeen oil explorer for around £1.7bn last month and several other board members have already moved on.Cross will take over as executive chairman of the Parkmead Group – a an investment company specialising in the oil industry – from 9 November. He said: “I am leaving Dana in very good hands with KNOC. They are an excellent company and in the end paid the right price.“I have told them that I will be on hand to help out or give any advice after I have left – we have a very good relationship.” He likened Parkmead to Dana in the early days and said he was expecting great things. “We have some great contacts at Parkmead and I am looking forward to doing some deals. There is a particular expertise in the North Sea and Asia.”Cross, also chairman of BRINDEX, the Association of British Independent Oil Companies, takes over the reins at Parkmead after the retirement of non-executive director Clive Goodall. He added: “I am already a non executive director at Parkmead and I am looking forward to getting stuck into the day-to-day operation.”Parkmead, based in Aberdeen is an expert on exploration projects in the North Sea. KCS-content last_img

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