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Highlights
- Bounty Oil & Gas has launched a Board and management renewal as it advances its Australian oil and gas growth strategy.
- Long-serving CEO Philip Kelso has retired after more than 15 years with the company.
- Energy industry veteran Kane Marshall has been appointed Independent Chairman, effective 22 January 2026.
- Corporate finance specialist Robin Armstrong joins the Board as an Independent Non-Executive Director.
- The leadership refresh includes the retirement of two long-standing Board members, marking a major governance transition.
ASX-listed Bounty Oil & Gas NL (ASX:BUY) has announced a planned Board and management renewal, including the retirement of long-serving Chief Executive Officer Philip Kelso. The changes form part of a broader refresh aimed at strengthening the company’s leadership as it continues to execute its strategy of developing Australian oil and gas assets while expanding its portfolio through new ventures.
As part of this transition, the company has confirmed the appointment of two new Independent Non-Executive Directors and the retirement of two longstanding Board members, marking a significant transition in governance and leadership.
Kane Marshall - New Chairman
The company announced the appointment of Kane Marshall as an Independent Non-Executive Director and Chairman, effective 22 January 2026. He brings more than 20 years of experience across technical, managerial and governance roles within the energy and resources sector.
His career spans positions as a geologist, director, company builder and engineer. His background includes advising resource companies on new venture transactions and funding initiatives. He has worked in both technical and managerial capacities with major and junior oil companies, as well as private equity groups.
His current leadership positions include serving as the Managing Director of Australian Oil Company Limited (an ASX-listed entity) and the Non-Executive Chairman of Consolidated Africa Limited. His extensive prior experience includes roles such as Chief Operating Officer of Bounty Oil & Gas, Non-Executive Chairman of IPB Petroleum Limited, and Managing Director of Key Petroleum Limited.
He holds a Master of Petroleum Engineering from Curtin University, along with a Bachelor of Science in Petroleum Geology and a Bachelor of Commerce in Investment Finance and Corporate Finance from the University of Western Australia.
Robin Armstrong – New Independent Non-Executive Director
Robin Armstrong has been appointed as an Independent Non-Executive Director, effective 22 January 2026. He brings over 30 years of experience in the financial services sector to the role. His extensive background includes serving for 15 years as both the head of corporate finance and a director at ASX-listed firm Findlay Securities.
Throughout his career, he has led numerous public listings and capital raisings. Serving as both an executive and non-executive director across a range of Australian and international public companies, he has developed extensive experience in mergers and acquisitions, corporate governance, cross-border transactions, and corporate restructurings.
His past directorships include roles at Australian public companies, including Elysium Resources Limited, Astute Metals NL, Hardey Resources Limited, and Cardia Technologies Limited.
CEO Philip Kelso Retires After Long Tenure
As part of the renewal process, Philip Kelso has retired as Chief Executive Officer, effective 22 January 2026. He has been associated with Bounty since 2009 and has contributed extensively to oil and gas production, appraisal, and exploration activities in Australia and internationally.
Long-Serving Directors Retire
The company also confirmed the retirement of Graham Reveleigh, Non-Executive Director and Chairman, and Charles Ross, effective 23 January 2026. Both directors have been part of the company since 2005.
BUY shares were trading at AUD 0.003 per share at the time of writing on 23 January 2026.
