New Appointments Strengthen WestSide Corporation Limited (ASX:WCL) Board To Guide Next Growth Phase
Brisbane, May 31, 2010 AEST (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.
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.
Angus Karoll Chairman and CEO WestSide Corporation Ltd Ph: +61-7-3020-0900 www.westsidecorporation.com