The Board of Directors of Drillsearch Energy Ltd (ASX:DLS)(PINK:DRLLF) are pleased to announce the appointment of Mr. John Whaley as Chief Commercial Officer. John will take on responsibility for the development and commercialisation of Drillsearch's assets together with managing acquisitions and divestments.
A UK qualified accountant, John has worked in the Australian energy sector over the last 25 years initially in investment banking and more recently as an independent commercial consultant. He has extensive experience across upstream and downstream sectors of the oil and gas industry.
John has worked on a number of Coal Seam Gas projects including as the foundation commercial executive at CH4 Pty Limited. CH4 was a pioneer in the commercial development of Coal Seam Gas in Australia securing the first long-term coal seam gas supply arrangements for power generation in Australia. Most recently, John was commercial manager for the Gloucester Basin CBM Project which was acquired in December 2009 by AGL for A$370 million from A J Lucas Group Limited and Molopo Australia Limited. His experience in developing these unconventional gas projects will be applied in furthering the commercialisation of PEL106 and developing Drillsearch's resources in the Cooper Basin.
Managing Director Brad Lingo said "John is a great asset to bring into the Drillsearch team. I have worked with John in many capacities over the last 16 years and he is one of the best commercial professionals in the business. Whether it is a greenfield gas & liquids project like we have in the Western Cooper Basin or breaking new ground and getting a non-conventional gas resource into the market, I truly believe John is the right man for the job. John's appointment sends a clear signal that Drillsearch is highly focused on achieving its operational goals, with a clear objective of getting our resources to market and delivering returns for our shareholders.
This business is not just about what you can find but also about what you can get to market.
John has the wellhead to burner tip experience that is required to deliver shareholder value in this business especially in a rapidly changing market."
About Drillsearch Energy Limited
Drillsearch Energy Limited (ASX:DLS) explores and develops conventional oil and gas projects. Drillsearch has a strategic spread of petroleum exploration and production acreage in Australia's most prolific onshore oil and gas province, the Cooper/ Eromanga Basins in South Australia and Queensland. The company's focus is on 'brownfields' exploration where geological risk is reduced and there is access to existing infrastructure, ensuring that any discoveries can be brought into production. The company also has offshore exploration interests in the Gippsland Basin and in PNG as well as oil & gas production interests in Canada.
Contact
Brad LingoManaging Director
Tel: +61-2-9241-4440
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