Blue Energy (ASX:BUL) has scored a coup after former Santos managing director John Ellice-Flint accepted its invitation to join as an executive director of the company.
His appointment, which is subject to shareholder approval, will hand the reins of Blue’s exploration activity in Queensland over to a proven oil and gas executive who recognised the value of the State’s coal seam gas resources.
Besides oversight of exploration in Queensland, Ellice-Flint will also pursue new venture growth opportunities, and be responsible for building reserves up to the company’s stated goal of having 3000 petajoules of 3P reserves by the end of 2014.
Almost lost in the shadow of Ellice-Flint’s appointment is the company’s placement of A$10 million in new shares to professional and sophisticated investors and the launch of a partly underwritten share purchase plan to existing shareholders
His appointment, which is subject to shareholder approval, will hand the reins of Blue’s exploration activity in Queensland over to a proven oil and gas executive who recognised the value of the State’s coal seam gas resources.
Besides oversight of exploration in Queensland, Ellice-Flint will also pursue new venture growth opportunities, and be responsible for building reserves up to the company’s stated goal of having 3000 petajoules of 3P reserves by the end of 2014.
Almost lost in the shadow of Ellice-Flint’s appointment is the company’s placement of A$10 million in new shares to professional and sophisticated investors and the launch of a partly underwritten share purchase plan to existing shareholders
Proactive Investor
No comments:
Post a Comment