CIBCHave an $82.50 target. GLTA
EQUITY RESEARCH
December 3, 2023 Flash Research
TOURMALINE OIL CORP Normal Course Management Appointments Announced
Our Conclusion
Tourmaline’s management appointments appear to be normal course
succession and promotion processes, and we do not expect these will have
an adverse impact on the stock with the senior management team remaining
unchanged.
Mr. Earl McKinnon has been appointed COO after serving as VP Operations
with Tourmaline since 2015. Mr. McKinnon is an engineer and previously
held operational roles at Shell Canada. Former COO, Al Bush, will serve in
the role of VP, Corporate Affairs to ensure an orderly transition of COO
responsibilities. Tourmaline also appointed Ms. Sarah Tait (Controller) to VP
Finance, Mr. Jamie Heard (Manager, Capital Markets) to VP Capital Markets
and Ms. Katie Beck (Associate General Counsel) to General Counsel and
Corporate Secretary.