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18/4/2018 — Oil and Gas
Cue appoints new director

Major shareholder New Zealand Oil & Gas Ltd (NZX: NZO) was behind a new non-executive director appointment for Cue Energy Resources Ltd (ASX: CUE).

The New Zealand petroleum producer, which holds 50.04% of Cue supported the immediate appointment of Rebecca DeLaet.

Cue reported that due to Cue’s strategy of low overheads the new director will not accept fees for her contributions to the Cue board.

Rebecca DeLaet has worked for the Ofer Global Group (now a controlling shareholder of NZOG) since 1990. For the last 10 years she has overseen the group's finance activities, including debt and equity financing, and risk management.

She was responsible for the initial structuring and capitalisation of Omni Offshore Terminals' assets in 1994, when she saw the need to establish an independent oil and gas arm for the Ofer Global Group.

Since then, she has been responsible for all of the financing activities for the Omni organisation. Ms DeLaet has a Masters in Finance and Bachelor of Science from the Wharton School at the University of Pennsylvania.

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Rebecca DeLaet attending a business conference in China.