Tony Buckingham
Anthony Leslie Rowland Buckingham | |
|---|---|
| Occupation(s) | Entrepreneur, oil industry executive |
| Known for | Ownership and leadership of Heritage Oil Corporation; involvement with Executive Outcomes; shareholder in DiamondWorks |
Anthony Leslie Rowland Buckingham is a British entrepreneur and oil industry executive who holds a substantial ownership interest in Heritage Oil Corporation, which has been publicly traded on the Toronto Stock Exchange since 1999 and on the London Stock Exchange since 2008. Buckingham owns approximately one-third of Heritage, although his share was partially diluted following a 2007 equity placement managed by JP Morgan and Canaccord. The Sunday Times Rich List of 2019 estimates his personal wealth at £425 million. His professional journey began as an oil-rig diver in the North Sea.
Private military background
Buckingham previously had ties to the private security firm Executive Outcomes. A classified British intelligence document indicated that Buckingham, together with Simon Mann, a former British military officer, registered Executive Outcomes in the UK. Buckingham disputes having registered or maintaining any corporate connection with the company.
In addition to Executive Outcomes' founder Eeben Barlow, Deputy CEO Lafras Luitingh, and Simon Mann, Buckingham served as an executive officer of Ibis Air, which was responsible for acquiring aircraft for Executive Outcomes. This entity functioned as the private air wing of the company, utilizing Soviet-era fighter jets sourced from the Angolan Air Force.
Since 1999, Buckingham has ceased involvement with private military firms, dedicating his efforts to managing Heritage Oil, which he established and previously led as CEO. He joined Heritage's board in early 2008, coinciding with its debut on the London Stock Exchange.
Buckingham’s name remains associated with the Valentine Strasser coup in Sierra Leone, where he supported mercenaries defending the National Provisional Ruling Council (NPRC), events linked to the subsequent governmental collapse.
Oil background
As Heritage’s former CEO and principal shareholder, Buckingham guided the company through significant exploration achievements, notably discovering hydrocarbon systems in Lake Albert, Uganda, and developing the M’Boundi oilfield in the Republic of Congo. Heritage Oil has also acquired exploration licenses in regions such as Iraqi Kurdistan and Mali.
In 2016, Heritage Oil's subsidiary Heritage Oil and Gas was named in the Panama Papers for relocating its domicile to circumvent a $400 million capital gains tax obligation owed to Uganda.
DiamondWorks
Anthony Buckingham became the controlling shareholder and a director of DiamondWorks following its acquisition of Branch Energy Ltd. for US$24.4 million during 1995-96. Branch Energy held mining rights to the diamond-rich Koidu concession in Sierra Leone. During the early 1990s, Buckingham’s military consultancy Executive Outcomes (EO) provided security services for foreign mining enterprises including DiamondWorks. EO shared office space in London with Sandline International, another private military firm.
DiamondWorks Ltd., based in London with operational headquarters in Johannesburg (TSX: DMW), was among junior mining companies negotiating investment deals with Sierra Leone’s government. The firm originated from Carson Gold and Vengold, promoted by Eric and Robert Friedland. Although controversy surrounded its connections to EO and Sandline, EO’s role was credited with safeguarding Sierra Leone’s elected government against insurgent groups.
Buckingham stepped down from DiamondWorks in 1998 but maintained a 25% ownership interest.
Sailing
Buckingham is a skilled sailor who has competed on behalf of Great Britain in various events. He has secured multiple awards at prominent regattas, such as Cowes Week and the Commodore's Cup in the year 2000. Frequently, his vessels bear names inspired by the Ngoni people.