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Brisbane, May 31, 2010 (ABN Newswire) - WestSide Corporation Limited (
ASX:WCL) is pleased to announce the appointment of Mr Robert Neale and Mr John Clarke as Non-executive Directors as the Company prepares to embark on an exciting new growth phase.
WestSide is only weeks away from taking control of the Dawson Coal Seam Gas (CSG) fields in Queensland's Bowen Basin and plans with joint-venturer partner Mitsui E&P Australia Pty Ltd to jointly invest more than A$50 million over the next two years to increase gas production from the fields.
Mr Neale is the Managing Director and CEO of New Hope Corporation Limited (NHC) (ASX:NHC), while Mr Clarke is the Managing Director and co-owner of Infrastructure Capital Group Ltd (ICG), previously ANZ Infrastructure Services Ltd.
WestSide Chairman and CEO Angus Karoll welcomed Mr Neale and Mr Clarke to the Board.
"At this important stage of WestSide's development, Rob and John bring a wealth of experience and a pertinent mix of skills to the Company," Mr Karoll said.
"Rob's experience in the resources sector and John's infrastructure and financial market strengths will complement those of the existing Board members.
"Our Board is now well-balanced and equipped to guide the Company into an exciting period of growth, starting with completion of the acquisition and development of its first producing coal seam gas fields."
WestSide recently raised A$64.4 million from existing shareholders, NHC and the ICG-managed Energy Infrastructure Trust (EIT) to fund its acquisition of a 51 per cent interest in the producing Dawson CSG field and assets.
Both New Hope and EIT were also stakeholders in CSG pioneers Arrow Energy Ltd (ASX:AOE) (PINK:ARWEF) and Queensland Gas Company Ltd (QGC) respectively.
Robert Neale
Managing Director and CEO - New Hope Corporation Ltd
Rob has 40 years experience in the resources sector. His main areas of expertise lie in exploration and mining industries in several countries covering gold, base metals, synthetic fuels, coal, bulk materials and shipping as well as power generation projects.
Over the past 15 years, Rob has effectively led corporate growth through business improvement, asset management and successfully implemented new business ventures.
Rob is also a Non-executive Director of Planet Gas Limited (ASX:PGS) and a Director of both the Queensland Resources Council and Australian Coal Association.
John Clarke
Managing Director - Infrastructure Capital Group
John has extensive experience in the financing of infrastructure-related businesses and projects, including the Condamine Power Station (now owned by QGC) and Esperance Power Station and Pipeline in Western Australia. John's previous experience includes merger and acquisitions in the New Zealand electricity industry, and more recently he was the CEO of Infratil Australia Ltd and Managing Director of HRL Morrison & Co Pty Ltd.
John is Chairman of Stadium Australia Group (ANZ Stadium) and a Director of leading infrastructure industry group Infrastructure Partnerships Australia, Gas Pipelines Vic Pty Ltd, Esperence Pipeline Co Pty Ltd, Esperence Power Station Pty Ltd, Stadium Investments Pty Ltd, Biodiesel Producers Ltd, Neerabup Power Station Holdings Pty Ltd and Ochre Services Ltd.
ASX:WCL) is pleased to announce the appointment of Mr Robert Neale and Mr John Clarke as Non-executive Directors as the Company prepares to embark on an exciting new growth phase.WestSide is only weeks away from taking control of the Dawson Coal Seam Gas (CSG) fields in Queensland's Bowen Basin and plans with joint-venturer partner Mitsui E&P Australia Pty Ltd to jointly invest more than A$50 million over the next two years to increase gas production from the fields.
Mr Neale is the Managing Director and CEO of New Hope Corporation Limited (NHC) (
ASX:NHC), while Mr Clarke is the Managing Director and co-owner of Infrastructure Capital Group Ltd (ICG), previously ANZ Infrastructure Services Ltd.WestSide Chairman and CEO Angus Karoll welcomed Mr Neale and Mr Clarke to the Board.
"At this important stage of WestSide's development, Rob and John bring a wealth of experience and a pertinent mix of skills to the Company," Mr Karoll said.
"Rob's experience in the resources sector and John's infrastructure and financial market strengths will complement those of the existing Board members.
"Our Board is now well-balanced and equipped to guide the Company into an exciting period of growth, starting with completion of the acquisition and development of its first producing coal seam gas fields."
WestSide recently raised A$64.4 million from existing shareholders, NHC and the ICG-managed Energy Infrastructure Trust (EIT) to fund its acquisition of a 51 per cent interest in the producing Dawson CSG field and assets.
Both New Hope and EIT were also stakeholders in CSG pioneers Arrow Energy Ltd (
ASX:AOE) (PINK:ARWEF) and Queensland Gas Company Ltd (QGC) respectively.Robert Neale
Managing Director and CEO - New Hope Corporation Ltd
Rob has 40 years experience in the resources sector. His main areas of expertise lie in exploration and mining industries in several countries covering gold, base metals, synthetic fuels, coal, bulk materials and shipping as well as power generation projects.
Over the past 15 years, Rob has effectively led corporate growth through business improvement, asset management and successfully implemented new business ventures.
Rob is also a Non-executive Director of Planet Gas Limited (
ASX:PGS) and a Director of both the Queensland Resources Council and Australian Coal Association.John Clarke
Managing Director - Infrastructure Capital Group
John has extensive experience in the financing of infrastructure-related businesses and projects, including the Condamine Power Station (now owned by QGC) and Esperance Power Station and Pipeline in Western Australia. John's previous experience includes merger and acquisitions in the New Zealand electricity industry, and more recently he was the CEO of Infratil Australia Ltd and Managing Director of HRL Morrison & Co Pty Ltd.
John is Chairman of Stadium Australia Group (ANZ Stadium) and a Director of leading infrastructure industry group Infrastructure Partnerships Australia, Gas Pipelines Vic Pty Ltd, Esperence Pipeline Co Pty Ltd, Esperence Power Station Pty Ltd, Stadium Investments Pty Ltd, Biodiesel Producers Ltd, Neerabup Power Station Holdings Pty Ltd and Ochre Services Ltd.
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About WestSide Corporation Limited
WestSide Corporation Limited (ASX:WCL) is an ASX-listed company with interests in coal seam gas (CSG) projects in Queensland.
WestSide operates the Meridian SeamGas CSG fields west of Gladstone in Queensland's Bowen Basin. The Meridian gas fields comprise a range of CSG assets including a petroleum lease, gas rights in mining leases and gas compression and pipeline infrastructure connected to Queensland's commercial gas network. WestSide holds a 51% interest in the fields with Mitsui E&P Australia Pty Ltd holding the remaining 49%.
Elsewhere in the Bowen Basin, WestSide is currently operating an exploration and appraisal program at the ATP 769P (Paranui) and ATP 688P (Tilbrook and Mount Saint Martin) sites. WestSide holds a 25.5% interest in the tenements with Mitsui E&P Australia Pty Ltd, which has a 24.5 % interest in each, and QGC, which holds the other 50% in each case.
WestSide also has a 51% operating interest in two Galilee Basin (Queensland) tenements (ATP 974P and ATP 978P) covering an area of over 14,480 sq km, with Mitsui E&P Australia Pty Ltd holding the remaining 49% in each.
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