Richard Cottee Commences CEO Role
Sydney, June 5, 2012 AEST (ABN Newswire) - Central Petroleum Ltd (
ASX:CTP) announces that Mr Richard Cottee has been confirmed as CEO following the Company's recent Board meeting.
Chairman Dr Henry Askin said Mr Cottee's appointment is effective immediately. His continuing engagement and the provision of his services, as previously detailed, are conditional upon shareholder approval of Mr Cottee as a director.
The appointment of Mr Cottee has been brought forward by the Board because of the pressing requirements of Company business, in particular the need to progress commercial negotiations in the development program.
The appointment of Mr Cottee as a director of the Company is subject to shareholder approval at a General Meeting (GM) on 22 June 2012. Details of the GM Resolutions were sent to shareholders in a Notice of Meeting released to the ASX on 21 May 2012.
The Company extends its appreciation and thanks to Mr Dalton Hallgren who as Acting CEO has provided key support in this interim period. Dalton will resume his position as Chief Operating Officer.
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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